Advantys and Business Process Management (BPM) solution WorkflowGen help a leading Insurance company preserve their data integrity and achieve financial compliance.

The Challenge
Having spent two years consolidating the company’s General Ledger, the Finance division of a leading Insurance company was beginning to see the fruits of their labor unravel as each new change request came in. Change requests were submitted through e-mail and entered into a centralized set of Excel spreadsheets. Due to this manual process, requests were either not being addressed, or changes were being made without proper authorization. The Excel spreadsheets were becoming impossible to maintain, were highly complicated, and there was no audit trail of changes–thus invalidating all the work that had been done to streamline the General Ledger structure. What they needed was an automated system that gave them the ability to dynamically change business rules as the approval process changed, and web based forms that could be built and customized easily, all without having to pay for extensive additional consulting. The Head of Data Management was tasked with finding a solution amongst the nine systems running across the organization that had a “workflow” component, but nothing was suitable – they were too big or too small, too complex or not flexible enough. They realized they would have to purchase a solution that gave them what they needed without breaking the bank.

The Solution
Enter WorkflowGen BPM by Advantys, which had the flexibility and ease of use that the client was looking for. The team at Advantys worked with the client to understand their issues and problems and presented them with workable solutions that they were able to implement quickly. Advantys provided assistance in the creation of web based forms which included several integration points with the client’s internal systems for data validation purposes. This work was performed on time and on budget by Advantys consultants. Ultimately, using WorkflowGen BPM for General Ledger change management has prompted numerous requests from other departments in the organization about different ways they too can use the tool to control their processes – a true measure of success!

Benefits

Implementing WorkflowGen BPM resulted in stringent process control and Sarbanes-Oxley compliance.

• Because change requests are now routed through approval channels, all the data in the General Ledger maintains its integrity.
• Total visibility into the requests coming in, including reporting and tracking of request status, in order to pinpoint bottlenecks, increase turnaround time and adhere to required services levels.
• WorkflowGen BPM highlighted areas where the process needed to be tweaked or re-designed, resulting in greater efficiency.
• Accountability has increased due to the extensive reporting available – requests were no longer just another e-mail lingering in an Inbox.