IBM (NYSE:IBM) today announced that Homeloans Management Limited (HML) is using IBM Software to improve business processes across its credit management, call centre and for all customer mortgages.
Market conditions and strict FSA rules around 'treating customers fairly' prompted HML to invest in the technology, IBM WebSphere Lombardi Edition, to streamline and accelerate its existing business processes. HML needed an agile and flexible system that could be customised rapidly to meet ever-changing FSA requirements.
Business Process Management (BPM) software and services from IBM help organisations optimise business performance by discovering, documenting, automating, and continuously improving business processes to increase efficiency and reduce costs.
Prior to using the IBM BPM solution, HML lacked an efficient account management system. Without an overarching view of the status of an account, numerous, overlapping HML were contacting customers. The system now provides prompts to coach and guide call centre staff, improving customer service by preventing redundant contact with valued customers.
According to Niki Quick, manager of business process management (BPM) for HML, "IBM Lombardi Edition has been crucial to our business in meeting FSA requirements and in helping to reduce customer complaints substantially.
The IBM software very quickly uncovered that thousands of customers had not been contacted in over a year and we are now able to meet service level agreements across all accounts and help customers to get more quickly out of arrears which is ultimately the aim of the company."
"Smart companies such as HML are looking for ways to work more efficiently for savings and growth," said Phil Gilbert, Vice President, IBM WebSphere BPM Software. "Key business functions that took months can now be processed in a matter of minutes to the delight of employees, customers and regulators."
According to Gartner, Business Process Management (BPM) spending has jumped 9.2 percent in 2010 and IBM was named the top vBPM) spending has jumped 9.2 percent in 2010 and IBM was named the top vendor with more than double the mararket share of any other company. (1)
This growth is supported by recent studies showing that inefficient business processes cost Fortune 500 companies alone more than $480 billion dollars a year. This statistic is even greater in the public sector where organisations have lost up to $1.3 trillion dollars per year through inefficiency, (2) As a result; increasing efficiency has been identified as one of the greatest priorities for organisations worldwide. (3)
(1) Gartner, Inc., Market Share: All Software Markets, Worldwide, 2010, March 30, 2011
(2) Tech CEO Council Report 2010
(3) McKinsey & Company Government Reform Report 2009