Automation of cross-functional business processes and own workflow and its impact on business performance
Moneyveo is a service that helps Ukrainians to solve their financial problems here and now. Our goal is to provide innovative services that help people.
Moneyveo occupies a leading position in the Ukrainian online lending market and is one of the promising players in the fintech sector.
The first position in the market requires close attention to business and continuous improvement. This can only be realized by developing a process approach to management. It is within the framework of this task that we have identified one of the goals – the implementation of the ВРМ system
Sergey Sinchenko – Chief Operating Officer
May 2020 was exactly one year since the launch of the project for the selection and implementation of a BPM system. During this time, we managed to feel its influence on the efficiency of business processes, and, as a result, business. How we did it and continue to do it:
1. Chose the main goal and system requirements
The issue of switching to an electronic document management system in our company lay in the plane of optimizing cross-functional business processes. We strive to ensure the transparency of the company’s business processes, make them as flexible as possible, and increase their efficiency.
In this regard, the criteria for choosing a system were:
Simplicity and flexibility in setting up business processes.
– Setting up the routes of business processes can be carried out by a business owner, without the need to fully connect the resource of narrow specialists from the development;
– the setup should be ready for change, without the need to re-route the business process from the very beginning.
The system should be equipped with a wide range of functions for setting up business processes (parallelism/sequence of stages, the possibility of improvements, the possibility of assignments and delegation, and many others that are important to us).
Customization and the ability to implement integrations with another complex IT – systems.
As part of the automation of business processes, we include the need to integrate the system with other platforms, therefore, we need a system with an open API.
Friendly user interface
The system should be understandable and user friendly, business processes of absolutely any direction should fit well into the interface to ensure universality and quick user switching from one business process to another.
Availability of a mobile application.
Provide the opportunity for participants in the business process to make decisions, sign documents, having an only a mobile phone at hand.
Almexoft with the AlmexECM system was chosen as a partner for our business, as it met the requirements and selection criteria.
2. Developed and applied an iterative approach for system implementation and new business processes
The iterative implementation of the system at Moneyveo took 3 months. For this period:
- The system is deployed and integrated with our Active Directory;
- Trained system administrators within our company;
- The first business process in the system (consisting of a number of sub-processes) is automated;
- Employees who are part of the first automated business process are connected to work in the system.
We do our subsequent automation in the same way – iteratively, which allows us to adjust the automation vector, if necessary, make improvements with fewer resources, and launch processes quickly.
At the moment, we have automated business processes for processing incoming correspondence, agreeing with payments, regulatory documents, and a number of others. We connect new business processes to the system every month.
3. Automate business processes, keeping the focus on the result
«If you want to be in trend and take first place in the market, it is very important to know your plan of action on the way to improvement. And improvements are impossible without analyzing the current picture. Performance and reporting – the road to maximum efficiency»
Romana Timoshchuk – Project Manager
- Model the routes of business processes as optimally as possible, adding steps carried out by the system based on the input parameters at the start / during business processes.
- At the start of automation, we lay down indicators that will be assessed within the framework of the business process.
- Connect analytical reports that allow you to quickly make decisions about the need to make changes, improvements in business processes.
Now we have a tool that helps us see the effectiveness of cross-functional business processes and understand which aspects should be influenced in order to improve it. And this is our main task on the path to continuous improvement.
Our plan is to create a large process ecosystem, the tool for this is the AlmexECM product.
Having implemented the AlmexECM system for optimizing business processes and electronic document management, at Moneyveo we are developing a process approach to management.