A workflow strategy using FileNET Panacon eProcess solutions and implemented by The IQ Business Group`s content management and workflow division at the Standard Bank of South Africa has won international recognition.
The solution received a Silver Award for Global Excellence in Workflow at the AIIM 2002 Conference and Exposition in the United States last month. The award was presented by the Workflow Management Coalition, Giga Information Group, and the Workflow and Reengineering International Association, in recognition of Standard Bank of South Africa`s innovative implementation of FileNET`s Panagon(TM) eProcess solutions, which "have extended beyond corporate boundaries to address strategic business objectives".
According to Steven Spark, Head of IQ`s content management and workflow division Content IQ, the award was won because the workflow solution at Standard Bank clearly demonstrated an improvement in efficiency, cost reductions and increased productivity across several divisions of the organization.
"In doing so it also surpassed regional and industry standards in the implementation of business process applications," Spark added. Standard Bank`s Frank Barac, IT Director Corporate, said the solution has produced several strategic benefits.
"Productivity has improved by 140 percent, turnaround on asset financial decisions has been significantly reduced from seven hours to an average of 40 minutes, and regional staff have been streamlined resulting in substantial organizational savings"
Spark added that the award is particularly gratifying as the project demanded not just a technical solution, but a business one, which demonstrated value add in significant productivity improvements and reductions in processing time. "We were able to achieve this by extending our service offering through leveraging the business process and systems/application development skills of The IQ Business Group at large," he said.
The IQ business process and workflow solutions using FileNET`s Panagon applications were first implemented in Stannic, the asset finance division of Standard Bank, which includes motor vehicles and airplanes. Since then, Standard Bank has deployed the solutions throughout the organisation to include retail banking and corporate and merchant banking, and is in the process of being implemented in home loans, insurance and trusts.
"It is important to note the significant role that vendors play in supporting their customers throughout a workflow implementation," said Connie Moore, VP of Giga Information Group and Global Excellence in Workflow Award presenter.
"Success is not just based on the relationship between an organization`s IT and business operations, but a strong relationship between customer and vendor that all together leads to an innovative and successful implementation."
The Global Excellence in Workflow Awards, now in its 12th year, takes place annually in conjunction with the AIIM 2002 Exposition & Conference. AIIM is the Association for Information and Image Management - the global industry association that connects the communities of users and suppliers of Enterprise Content Management.
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The IQ Business Group is a thought leadership organisation, focussing on the holistic design, implementation and management of technology enabled business process solutions. The company has grown in three years to a process leader that is regarded as one of South Africa`s premier unlisted information technology players.
Starting from with a core of 19 professionals in 1998, IQ`s staff complement has grown to over 600, most of who are university graduates with skills in commerce and information systems. In addition, IQ sports a set of industry-focussed development and operational outsourcing teams focussed in the financial services, healthcare, and supply chain industries.
IQ has grown its business by partnering with leading players in niche sectors that see information technology as strategic to their growth objectives. These partners include Investec, Reunert, NSP Buck (Australia) and Nedcor.
The IQ Group has operations in Sydney, Perth and Melbourne in Australia, Boston and Atlanta in the USA and in London in the UK.
FileNET
FileNET Corporation (Nasdaq: FILE) provides The Substance Behind eBusinessTM by delivering Enterprise Content and Business Process Management solutions that improve operational efficiency and leverage information resources. FileNET`s solutions are designed for both the enterprise content management and collaborative commerce markets, enabling organizations to realize increased productivity, customer satisfaction, and profitability by empowering customers, business partners, suppliers, and employees to engage in business processes and exchange relevant content.
Headquartered in Costa Mesa, Calif., FileNET markets its solutions in more than 90 countries through its own global sales, professional services, and support organizations, as well as via its ValueNET(R) Partnernetwork of resellers, system integrators, and application developers. To put more substance into your eBusiness, visit FileNET`s Web site at www.FileNET.com or call 1 800 FileNET.