Recent wins underline strength with leaders in Banking
London, 8th July 2003. Staffware, a global leader in Business Process Management (BPM) software, announces significant new orders from leading European banks including ABN AMRO in the Netherlands and a multi-million pound enterprise-wide agreement from a major UK bank. In total, in the last few weeks, Staffware has received orders from the Banking Sector to the value of £6.5 million.
These wins underline Staffware’s continuing success in the banking sector. They are also an indication of Staffware customers’ satisfaction with Staffware BPM solutions, as several orders are from existing customers broadening the scope of BPM within their organisations. For example, ABN AMRO is extending its existing contract with Staffware to cover credit and loan processing.
“These new orders are noteworthy achievements at a time when business management has become increasingly sceptical about the under-performance of its previous investments in enterprise software,” said John O’Connell, Chairman and CEO of Staffware. “It is also very pleasing that we continue to grow our business with existing customers, reflecting the fact that returns are being achieved from their current deployment of Staffware BPM.”
Staffware can also report that its BPM solutions have been implemented at five of the top seven banks identified by research published by Mercer Management Consulting*. The leading banks were more profitable, showed lower ratios of costs to revenues and had a higher proportion of staff working in customer facing roles.
The decisions of five of these leaders to implement Staffware BPM solutions in various parts of their business is a recognition of the importance of effective process management in reducing costs and improving service, as well as reflecting the strength of Staffware’s technology, reputation and depth of experience in the sector.
Staffware BPM allows management to identify and remove bottlenecks in the day-to-day activities of banks, as well as providing the process flexibility to deliver effective change-management. Streamlined functions facilitate adoption of ‘straight through processing’ techniques, reducing the time and resource needed to execute the core functions of banking, such as loan approvals, mortgage processing and customer servicing. Significant productivity gains ensue, often in the order of 30-40% for Staffware’s customers in this sector, dramatically reducing costs per transaction. In addition, freeing up staff from time-consuming, labour-intensive back-office activities facilitates the transfer of roles to customer facing activities. This is a hallmark of the most successful banks, as identified in the Study.
“In our experience, it is the most forward looking and successful organisations that embrace our business process management technology,” said O’Connell. “These leaders have understood the importance of process and have now acted to equip themselves with the Staffware tools to continuously improve business processes and help maintain outstanding performance,” he concluded.
* “Deutsche Banken: Der Weg zurück in die europäische Spitzenklasse”, published by Mercer Management Consulting, January 2003
About Staffware Plc
Staffware is the leading Business Process Management specialist and has over 2 million licensed users in 5,000 customer organizations within the Banking, Insurance, Telecommunications, Utilities, General Commercial, Manufacturing, and Government sectors. Staffware is headquartered in the UK, has offices in 16 countries and employs approximately 350 people. The company is listed on the London Stock Exchange and is the leading profitable, debt-free, global vendor focused exclusively on providing BPM solutions.
Staffware’s BPM expertise has evolved from 15 years of automating and managing processes, so the interaction of people and processes has remained central to its philosophy. Unlike the majority of its competitors, it has a deep understanding and unique insight of the complex people-to-people, people-to-application and application-to-application interactions that make up business processes.
The Staffware Process Suite provides a complete set of tools to create, transform and streamline the internal and external processes and tasks of an organization. Staffware enables the creation of an Independent Process Layer that separates process from the underlying IT/data environment, facilitating the rapid development and change to an organization’s process. The Staffware Process Suite is an open and standards-based solution that ensures seamless integration and full interoperability with existing IT infrastructures and applications.
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Kristen Lazur/Stephanie Kane
Harvard Public Relations
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