Today, the ways in which the organizations conduct businesses, interact (or are expected to interact with their customers) have become really complex. The market environment has become more dynamic, social and highly mobile. In this age, the focus on the customer matters more than any other strategic business needs. Unfortunately, traditional packaged software applications do not provide the advanced levels of adaptability and flexibility necessary in such highly dynamic collaborative activities. Customer frustration in such highly personal, competitive and costly markets, can spell disaster.
This is exactly how a smart process application plays an important role.
What is a Smart Process Application?
The term Smart Process Applications was introduced by Forrester to help describe collaborative, process-based packaged applications for human-centric work processes. In Forrester’s words, smart process apps are “a new generation of applications to help make human-centric, collaborative business activities be more effective in order to help people be smarter in executing critical business activities.”
Smart Process Apps are off-shoots of an underlying enterprise process created to cater to a specific purpose or an activity to deliver value. These are “out of the box” solutions that tend to be lighter than the big, heavy, packaged apps and are easy to deploy. They are designed to simplify activities that are people-intensive, variable, loosely structured and is subject to change. Cloud computing, mobile computing, IT consumerisation and smart computing are the changing forces behind the adoption of smart process applications.
Many forward-thinking organizations have deployed Smart Process Applications in the following areas:
- Contract lifecycle management
- Supplier risk and performance management
- Customer service and support management
- Advanced supply chain planning and scheduling
- New customer on-boarding
- Loan servicing
Core: Smart Process Application
Elements & Features of a Smart Process Application:
Smart process applications are based on five main elements. These design principles are also applied in the use cases seen above:
- Availability of relevant data – Information relevant to my customer ID
- Accessibility – Ability to access this data from anywhere
- Document capture – Scan & Upload a Photo Signature proof
- Collaboration – Back end team involved for validations
- Off shoots to complement core process – Account cancellation process
The changing market environment will influence businesses to invest in the next generation of packaged software applications that combine enterprise capture, business rules, business process management, event processing, collaboration, analytics, and the ability to deploy within the cloud. With smart process applications, organizations will be able to achieve:
- Higher operational efficiency and accelerated processing times
- Improved cost structure, revenues, profits and returns on assets
- Superior customer service by quickly responding to the needs of internal and external customers – irrelevant of the time and place
- Compliance with all rules and regulations through increased visibility into critical business processes
On a lighter note, I hope the next time I call up the bank I’d be able to close down my account with a few clicks!Loading Likes...