TIBCO Software Inc, a leading business integration and process management software company that enables real-time business, today announced that Nedbank won an award at the industry recognised 2005 Global Excellence Awards for innovation and excellence in business process management (BPM). TIBCO`s BPM software represents the technology foundation that helped secure this award (Middle East Africa region) for Nedbank.
The Nedbank entry details how it has used BPM to meet two objectives - to increase business for the bank by processing credit applications more rapidly and, secondly, to further enhance customer service as a result. Since implementing the TIBCO BPM solution, the Credit Control Department went from processing between 2 000 and 6 000 applications a month, to up to 15 000 by the fourth month of implementation without any additional resources required to process the extra applications.
The awards - supported by the Workflow Management Coalition (WfMC) and the Workflow and Reengineering International Association (WARIA) recognise best practices in BPM. Against heavy competition from other BPM projects, Nedbank was singled out for the tangible results it has enjoyed following its TIBCO BPM implementation.
"The industry has considerable respect for the Global Excellence Awards for innovation and excellence in business process management, because it celebrates real-world projects, with real-world results," said Marco Gerazounis, Country Manager, South Africa, TIBCO Software, Inc. "That TIBCO should be behind a high profile winner, is an independent endorsement that validates our BPM proposition."
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TIBCO Software Inc (NASDAQ:TIBX) is a leading business integration and process management software company that enables real-time business. Real-time business is about helping companies become more cost-effective, more agile and more efficient. TIBCO has delivered the value of real-time business, what TIBCO calls The Power of Now, to over 2 000 customers around the world and in a wide variety of industries. For more information on TIBCO`s proven enterprise backbone, business integration, business process management and business optimisation solutions, TIBCO can be reached at (011) 467 3111 or on the Web at www.tibco.com TIBCO is headquartered in Palo Alto, CA.