What is your recommended BPM tool for a large financial institution? Why would you choose this tool?
Hi,
I work at a Financial Services company. I'd like to hear your opinion about your recommended BPM tool to provide solutions for a financial institution.
BPM Method and Tools Specialist at a pharma/biotech company with 10,001+ employees
Real User
Jul 12, 2022
Hi,
Just assuming that you mean BPM (business process management) rather than BMP (which I don't know what it stands for :) ).
I guess the right tool totally depends on your needs. If you want to have the highest flexibility when it comes to modeling, then I would choose ARIS.
There you can choose from about 100 different models (BPMN, EPC, Archimate, UML, Bow Tie, Customer Journey Map, Org-Charts, DMN, etc.). This provides you high flexibility to cover all of your colleagues' (future) needs. Also, in my experience, it's really easy to configure the tool. So, you can easily customize it.
I would recommend the Signavio Transformation suite which consists of Process Manager (BPMN 2.0), Collaboration Hub, Process Governance/ Workflow and Process Intelligence.
There's a Customer Journey Model integrated with the process model and process intelligence, Process simulation, Archimate and Decision Modelling Notation (DMN 1.0), and Org Chart.
I don't think that Signavio is necessarily better in all areas. However, I have found it to be a balanced suite of business tools, intuitive and also represents great value for money.
E.g. Celonis is a better tool in process intelligence than Signavio, but trails in Business Process Modelling and governance. SIMUL8 business process simulation capability is better than Signavio but lacks in process modelling and governance. GBTec is an up-and-coming product which deserves serious consideration as well.
Signavio is gaining market share in Australia and is used by a few major banks and superannuation companies.
This is just my personal opinion and I agree with everyone here; it depends on what your company needs.
Director of Process Optimization at a tech services company with 1,001-5,000 employees
Real User
Jul 12, 2022
The tool, in my opinion, comes after the strategy.
Building a BPM strategy and making sure you have key decision maker's support is key to then waterfalling down the organization to see what the objectives are for BPM. For finance, there are certain regulatory issues and conformance requirements.
After building the strategy then a tool selection that best fits the Value Proposition and the platform can be chosen. Today, I have a hard time finding a tool better than the integrated Signavio Transformation Suite.
You need to focus on the "definition of success" for the client. Are they interested in initial modeling and governance, or do they need deep process intelligence to build variant dashboards to manage compliance?
Business Process Management optimizes and automates business workflows. It enhances efficiency, agility, and customer satisfaction by aligning processes with organizational goals.Business Process Management focuses on improving corporate performance by managing, automating, and optimizing a company's business processes. It helps organizations map out their existing processes to identify inefficiencies, optimize workflows, and implement technological solutions for maximum productivity.What...
Currently I am using Bizagi Modeler for an organisation of about 2000 staff..
I know that ARIS as well is a very good tool -best for intergrating business processes,data,IT and organisation structure.
Although I have worked with ARIS, Celonis, Signavio, and a few others, I agree with Veronika... the tool depends on the need and strategy.
Hi,
Just assuming that you mean BPM (business process management) rather than BMP (which I don't know what it stands for :) ).
I guess the right tool totally depends on your needs. If you want to have the highest flexibility when it comes to modeling, then I would choose ARIS.
There you can choose from about 100 different models (BPMN, EPC, Archimate, UML, Bow Tie, Customer Journey Map, Org-Charts, DMN, etc.). This provides you high flexibility to cover all of your colleagues' (future) needs. Also, in my experience, it's really easy to configure the tool. So, you can easily customize it.
But again, it depends on your needs.
Hope this helps.
Best,
Veronika
I would recommend the Signavio Transformation suite which consists of Process Manager (BPMN 2.0), Collaboration Hub, Process Governance/ Workflow and Process Intelligence.
There's a Customer Journey Model integrated with the process model and process intelligence, Process simulation, Archimate and Decision Modelling Notation (DMN 1.0), and Org Chart.
I don't think that Signavio is necessarily better in all areas. However, I have found it to be a balanced suite of business tools, intuitive and also represents great value for money.
E.g. Celonis is a better tool in process intelligence than Signavio, but trails in Business Process Modelling and governance. SIMUL8 business process simulation capability is better than Signavio but lacks in process modelling and governance. GBTec is an up-and-coming product which deserves serious consideration as well.
Signavio is gaining market share in Australia and is used by a few major banks and superannuation companies.
This is just my personal opinion and I agree with everyone here; it depends on what your company needs.
Hope it helps.
The tool, in my opinion, comes after the strategy.
Building a BPM strategy and making sure you have key decision maker's support is key to then waterfalling down the organization to see what the objectives are for BPM. For finance, there are certain regulatory issues and conformance requirements.
After building the strategy then a tool selection that best fits the Value Proposition and the platform can be chosen. Today, I have a hard time finding a tool better than the integrated Signavio Transformation Suite.
You need to focus on the "definition of success" for the client. Are they interested in initial modeling and governance, or do they need deep process intelligence to build variant dashboards to manage compliance?
Contact me anytime and we can discuss further.
Anthony Murphy