Technology is just one piece of the puzzle, according to Bank of New York Mellon.
David Palmieri, MD of client service delivery at BNY Mellon, shares his top three tips on how to perfect your business process management.
1. Focus on work culture
Focus as much on cultural change aspects as much with the technology aspects. Start with things like an assessment of readiness for change within the organisation. Understand what the employees’ perception is of their tools, and how they’re used and whether or not they actually help them to do their jobs. These are all things that are typically found in any annual employee satisfaction survey. Those things are usually pretty telling, especially if they provide a lot of verbatim-type commentary. So I would say start with an assessment. Look at learning and development and look at recognition and rewards systems to make sure that employees have an incentive to do the right thing. Culture is huge.
2. Don’t rely on gut feeling
Try to implement a structure that allows you to fly by the numbers. This is much more data centric, much more about the KPIs and the metrics as opposed to just gut feeling and intuition. You get a lot false positives that way.
3. Take an holistic approach
The solution is normally a combination of things so think holistically about the solution. That, to me, is so important. As we’re rolling out a number of projects and pilots in my space, the phonecall I always get is ‘the process doesn’t work’. But there are so many other factors that are important to, not just the process working, but making it sustainable. Your operating model, your location strategy, your site strategy are all integral parts of making it work.