Tag: operations

Nov
2011

Challenges of Transformation in EMEA

Transformation in Financial Institutions such as Banks is a big topic to cover. The situation gets even more complex when we are talking about a diverse territory as EMEA. Diverse in culture, thinking, mindset, color, languages, Sio-economic background etc.

Banks in the region, today are faced with one common challenge- How to reduce Costs of Operations. This can only be achieved by transforming the way these entities function and strive to achieve operational excellence.

This solution is Easier Said than Done…

At a recent banking summit, it was interesting to note that global banks are focusing eastwards to draw business and this is where they are faced with the challenges of Operational excellence. Some of the banks in some of these countries may not have even their Standard Operating Procedures defined, leave alone the automation. Challenges such as “ Loan being approved from one branch of a bank, even though it was rejected by another branch of the same bank” are not unheard of.

To address these issues, banks are focusing on having a global strategy towards transformation and localizing it to meet the end objective of Operation Excellence.

What would ultimately drive the real transformation in banks is their willingness to adopt a continuous improvement cycle approach, rather than the big bang approach. The Mantra that is likely to work is “ Achieving Business results in One Business Quarter” and embarking on a continuous improvement cycle.

Aug
2011

KAIZEN way of Digitization: Automated Technologies for Scanning & Content Capture

Organizations are now more concerned about greater efficiency with low cost of operations, a great composition for win-win scenario. Every organization uses paper documents in some way to run their day to day business and is also putting its best efforts to reduce paper usage without affecting its business while trying to improve the efficiency at same time.  The best method to achieve the said goal is digitization and automation of the complete business process. Automation through BPM (Business Process Management) solution and digitization through DMS (Document Management System) solutions will improve the process time drastically and eliminate the use of paper documents respectively, a win-win situation.

Basic input for any automation or digitization process is to scan the documents (to eliminate the dependency on paper documents) and capturing of contents on paper documents (to run the process based on the contents mentioned on the paper documents), but the cost of operations and wrong selection of software/ hardware results in dropping the great idea of progress through automation in about 60%-70% of the cases.

In my earlier articles like “Document Quality Analyzer: Automated Quality Checking without Operators “, “DIGITIZATION OUTPUT: Operator, Not Scanner, Defines Production”, “SaaS (Software as a Service) – Software on Subscription Based Model”, “DIGITIZATION – King Without Crown of Business Universe”, “DIGITIZATION REDEFINED – Digital Camera as Book Scanner”, “Data Capture/Entry without Operators (ICR Technology)”, we have shown the methods to bring down digitization cost, but the cost of content capture is still a cause of concern. The simple reason for this is the lack of awareness about great technologies such as ICR (for automated capturing of hand written contents), OMR (automated capturing of bubbles, check marks etc) and OCR (automated capturing of machine printed contents).

Availability of ICR technology has helped to capture content from documents for many years, but the basic requirement of this technology is, documents in structured format (fixed position of text on the documents), whereas about 90% of the documents are semi structured or unstructured, but the advancement in ICR technology has now shown the way to cater even semi/unstructured documents, now even running handwriting can also to captured by the software and saved as digital content. ICR technology is now so flexible that even floating text (if the position of text varies in every document) can also be captured and saved as structured digital content.

Now the full cycle of digitization i.e. “Scanning” and “Content Capture” is completely automated and completed with minimal expenditure, while resulting in huge improvements in efficiency of business processes. A true example of the “KAIZEN” method.

Name: Hemant

Web Site: http://www.newgensoft.com

Bio: Hemant is Senior Manager - Processing Services with Newgen Software Technologies Limited

Mar
2011

SaaS (Software as a Service) – Software on Subscription Based Model

As a new model of software deployment in enterprises, Software as a Service (SaaS) is gradually reshaping the competitive framework in the enterprise application market. SaaS is a globally emerging software delivery model in which application software is delivered remotely through a subscription-based model rather than being sold for perpetual use. Moreover, businesses in India are increasingly looking at delivery and collaboration of software over the Web. It is a low-cost way for businesses to obtain the same benefits of commercially licensed, internally operated software without the associated complexity and high procurement costs.

Newgen is proposing the hosted application model for its enterprise product suites, to clients, in a collaborative business framework.

Current Pain Areas (associated with enterprise software)

  • High software cost
  • Perpetual licenses cost
  • Software Maintenance cost
  • Hiring manpower
  • High operational & management cost

In this model customers can opt for a shared model where one application (which includes the application server, web server, database server and image server) will be shared by many companies. There will be multiple cabinets in a server, one for each SME.

The customers can also enjoy the personalized services in this model.  It also caters to the need for integration with their core system and other systems like CRM and workflow etc.

Benefits to Customer

  • Reduces TCO i.e. Minimal or no Capital expenditure
  • Fast ramp up requirements to match business growth
  • Highly sophisticated delivery process, thereby reducing TAT
  • Storage and DR needs

 Newgen’s Key Differentiators

  • Total ownership of process
  • End-to-End Service Provider
  • Reliable Quality Delivery
  • Security Compliances with Global Benchmark
  • Focus on Statuary Compliances.
  • Use of technology to provide continuous process improvement.

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Swati Pandey
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