Decrease process complexity
Dynamic processes can be overly complex with multiple paths and complex routing. Extracting the decision and putting it first creates a dynamic process—one driven by the specific customer, case or transaction—without increasing process complexity.
A European agency took this approach and found it had one simple, decision-intensive process, not the 30 processes it had expected.
Explicit decision handling also increases the rate of straight through processing (STP) and reduces the number of processes that wait while items are put on worklists or in queues. This marriage of explicit decisions and process management keeps transactions moving with only exceptions ending up on worklists. Staff can then focus on higher value activities.
An insurance company used advanced decisioning to handle the majority of underwriting decisions, freeing underwriters to work with agents to grow the business and reduced their combined ratio, a critical cost measure, by 8 points.
Increase agility and engagement
Business users like process management software because it allows them to change their workflow easily. Advanced Decisioning takes this flexibility to the next step, because business changes often involve changes to business decisions—to pricing, eligibility or risk assessment decisions, for example. Adding advanced decisioning allows business users to control processes and the critical decisions within them.
A high tech manufacturer used business rules to puts its engineers in charge of decision making in its diagnostic system and got a six-fold improvement in time to market.
Opportunities to Apply Smarts
Applying analytics is a major focus for many organizations. The power of analytics lies in making better decisions. Advanced decisioning allows analytics to be applied to data about process execution and data about customer behavior. Advanced decisioning puts these analytics to work embedding more precise, more profitable decisions in your business processes.
A Warehouse Club used advanced analytics to personalize its cross-sell offers, making them precisely targeted by analyzing historical sales data, and achieved a 2000% increase in offer acceptance.
If you want to know more about how to apply advanced decisioning to achieve process excellence you can view this
or download the
on this topic. If you want help adopting decisioning or decisioning technologies, drop me a line.
James Taylor, CEO
james@decisionmanagementsolutions.com
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