BKS Business Consultants - An ISO Certified Company

23/11/2021

RPA/IPA WITHIN BFIS: BANKING, FINANCIAL AND INSURANCE SERVICES

The pandemic has surged the requirement and scaling of robotisation, amidst many organisations. Affiliations are experiencing, significant influences across practical environments as outstanding innovation begins to emerge. In this article, we proceed to see one such innovative advancement, Intelligent Process Automation (IPA), that has recently enabled organisations with robotising excess and rule-based strategies, whilst using bots to mirror customers. Therefore, an extraordinary development and advancement enabling yielded theory is accomplished, in a relatively short period of time. Regardless, this does not conclude; there are different avenues for IPA for BFIS and ex*****on in various ventures yet to be accomplished.

RPA/IPA TECHNOLOGY

RPA, relates to development that may be used to robotise definitive work processes. RPA is uncommonly viable in digitising varying degrees of tasks (rules-based services) these processes ordinarily, are quite time consuming. RPA uses a specialised technique involving data control and mechanical intervention to automate rule based tasks without requiring dependable human participation.

RPA in finance services can save up to 75% on operational costs while retaining, not only quality, but the desired level of competency is realised. The most prevalent procedures that RPA advancement may help, associated with financial projects are financial assessment, orchestration, cash flow, and endorsement analysis.

INTELLIGENT PROCESS AUTOMATION (IPA)
Intelligent process automation is a hybrid of machine learning and robotic process automation that aids humans in their work and evolves over time, without the necessity to be monitored. IPA developments assist banks in extending adequacy and dynamic accuracy by interpreting both structured and unstructured data into important information. Various benefits include human-robot coordination, automation of both, what are considered as unpleasant and mundane, all whilst enabling quality assurance, throughout, the entire process and customer journey. Thus, attributing to robust governance and consistent risk strategy.

Organisations consider Intelligent Process Automation to be a vital part of cutting-edge working models, as indicated by a McKinsey investigation.

As indicated by Forbes research from 2019, 85% of banks have as of now carried out IPA to accelerate essential undertakings and business tasks.

ADVANTAGES OF RPA/IPA

Further developed Efficiency: RPA/IPA can restrict human error altogether. It furthermore prompts a 20% reduction in the number of help-desk enquiries, similarly as an addition in client dependability by shortening the response time.

Cost-Effectiveness: At present, during what one would consider as turbulent times, globally, cost-cutting is essential for every industry, including banks. According to different assessments, RPA/IPA can diminish the amount of full-time indistinguishable, resources needed by 67%. Additionally, by engaging employees in high-priority work, businesses can reduce cost associated with resource and resource management, whilst still managing to increase productivity.

Enhanced Customer Experience: IPA can be used by organisations to track the development of their process at every stage. This end-to-end audit trail will improve the client experience by optimising the outcomes.

The Paradigm Shift: As development advances, the BFIS business is going through an adjustment period, with context to, banks searching for instantaneous and negligible cost elective arrangements, that facilitate definitive achievements and benefits. RPA/IPA is a vital part of this change since it further creates client reliability by means of digitalising the entire organisation and thinking about more noteworthy availability and versatility in operational processes.


According to McKinsey, automation will change economies and workforces, with ‘obvious genuine work’ addressing 81% of developments of each sort with automation potential.



HOW SHOULD THE ORGANISATION ADAPT TO EMERGING TECHNOLOGIES SUCH AS RPA/IPA?


With headway in innovation and utilisation of RPA/IPA for business operations being carried out in a large portion, of the financial sector, the nature of work of humans is certainly improving. Now representatives are turning out to be liberated from tedious activities (unskilled/repetitive tasks are currently handled by RPA Technology) therefore, can use their time for more skilled tasks, whilst up-skilling and preparing, to align with latest tech and innovation.

Starting today, the robots are dealing with rules-based positions and capacities like finance and several tasks associated with, the handling of information.

According to Gartner, there are assumptions for 90% of huge associations embracing some type of RPA by 2022.

RPA/IPA tools are being implemented within the BFIS sector as it has multiple benefits – such as reduction in operational costs, increased work efficiency, with unparalleled response times. With increasing use of RPA/IPA tools there will be a rise in the demand for skilled RPA/IPA professionals and new jobs will be created.

According to Polaris Market Research, due to the increasing demand for RPA, the market is estimated to reach USD 8.7 Billion by 2026.

RESHAPING BFIS WITH INTELLIGENT PROCESS AUTOMATION


Banking and financial businesses are, required to stay aligned to change in innovation and advancements. Organisations must recognise the complexity of customer requirements as they arise and swiftly oversee activities – IPA, provides the capability required, to undertake processes and avoid ineffective process deployment. IPA offers immediate client response automation.

IPA tools can be programmed and trained to interpret a wide scope of information and interact with a variety of systems. By eliminating the need for reiteration, while transitioning between systems, organisations, inevitably save time and money.

https://bksbusinessconsultants.com/rpa-ipa-within-bfis-banking-financial-and-insurance-services/

17/04/2021

PMO-as-a-Service is a forward-thinking approach to a successful PMO. Developed and initiated encompassing unparallel experience and then deployed seamlessly, enabling your organisation to overcome the usual challenges of setting up and sustaining a Project Management Office.



BKS Business Consultants PMO, PgMO, PPM, EPMO, PSO is an outsourced PMO providing PMI, APM, Prince2 and Agile aligned Project Management and PMO services to support your organisational portfolio of programmes and projects.

HOW DO WE DO?


Our unparalled service will provide you PMO facilities to ensure that project plans, dependencies, risks and issues, changes, project documentation, configuration management, training, OPAs, quality and costs are managed in a controlled manner.



Initially we analyse organisational and programme requirements once established we will work collaboratively to establish the optimal solution to support and ensure that your organisation has the correct support in place to optimise successful completion of projects.



PMO as a Service
We provide complete PMO service with varying level of support and management, PMO analysis, scheduling services, and tools.



ARTIFICIAL INTELLIGENCE (AI) DRIVEN PROJECT MANAGEMENT OFFICE (PMO)


AI driven PMO service to ensure strategic Initiatives, drive projects and updates are available for senior management offering real-time project, programme and portfolio status reporting, offering invaluable forecasting which helps senior management in effective decision making.



Our AI driven PMO service includes:


AI Driven Project Forecasting.
AI Driven Risk Management & Escalation.
AI Driven Issue Management & Escalation.
AI Driven Complete Distribution Of Tasks And Scheduling.
AI Driven Resource Allocation And Management.
AI Driven Lessons Learned.
AI Predictive Analytics Highlighting Project Within Your Portfolio In Terms Of Their Success.


We at BKS Business Consultants ensure you have a structured framework enabling proficient delivery of projects. The support required to make the role of project resource less stressful. We can provide a service to undertake portfolio and program reviews to ensure you optimise delivery of your portfolio, programme and projects.





The advantages of BKS Business Consultants services:


Ability to step up and down on demand, ensuring holistic solution and provide a complete PMO/PM capability.
Ability to leverage resources across multiple programs.
Consistency of approach and quality of resources.
Quality assurance over all outsourced service.


Our services and solutions are tailored to suit the scale, complexity, and risks associated with your projects and to ensure a methodical, although tailored, approach is applied across for your projects.



BKS BUSINESS CONSULTANTS PMO OUTSOURCING MODELS


The Supportive PMO:
Provides support in the form of on-demand expertise and access to information.



The Governance/ Controlling PMO:
Provides support, guidance in managing projects. Enforces compliance to align with Organisational practices.



The Directive PMO:


All PMO Services and Deliverables. Direct end-to-end project support from a project management team that takes complete control and responsibility for the project.



All these services include:

Indirect support through the adoption of project management methodologies, templates and tools and the provision of project ex*****on assistance.
Education on the use of the processes, templates, and project workspace. Coaching on individual projects and assistance in addressing challenging projects.
Development, maintenance, and storage of project templates including project documentation and version control and the configuration management requirements to enable you to align to your audit trail obligations.


OUR EXPERTISE


AI Driven PMO As Service
PMO-as-a-Service starts with an in-depth evaluation of your business’ current state.

All ongoing and future actions are evaluated in terms of:

Scope
Budget
Planning
Risk
Strategic Business Alignment
Prioritisation
WHY BKS?


BKS’s PMO-as-a-Service offering is designed to interface seamlessly with any sector across all business functions. Our domain specialists have a deep understanding of their areas of expertise and after an in-depth Consultation and evaluation will determine the appropriate solution required to achieve the objectives of your organisation.
https://bksbusinessconsultants.com/services/ai-driven-pmo-as-a-service/

17/04/2021

We analyse, plan and execute business and cutting-edge technology strategies to meet our client's requirements and achieve their objectives, added Baljinder Kaur Sanghera, CEO.

Baljinder Kaur Sanghera, based in the United Kingdom, is an outstanding leader with extensive experience founding and developing disruptive organisations.

PMP, CAPM, Prince2 Practitioner, Agile – DSDM Practitioner, and ITIL v3 are only a few of the important certifications she already holds.

PMP, CAPM, Prince2 Practitioner, Agile – DSDM Practitioner, and ITIL v3 are only a few of the important certifications she already holds.

Working internationally she has nearly two decades of experience in finance, project management and consulting. Baljinder began her career as a Trainee Engineer and project manager at Nottingham City Council. Subsequently working with reputable companies such as Synergy Financial System, Atos, most recently One of the Big 4 Consulting companies Deloitte to name a few. With her finger on the pulse at all times diversification is the key driver of her success.

She began her entrepreneurial journey by founding her own Consultancy Company, BKS Business Consultants Ltd., an ISO accredited company, where invaluable experience gained in various aspects of management and consulting will drive her own Consulting company to achieve success and become a world renowned consultancy.

We analyse, plan and execute business and cutting-edge technology strategies to meet our client's requirements and achieve their objectives, added Baljinder Kaur Sanghera, CEO. Baljinder graduated with honours from De Montfort University with a Bachelor’s degree in “Accounting and Management“ ...

17/04/2021

BKS IS ACCREDITED WITH ISO STANDARISATION CERTIFICATION (9001, ISO 20000-1 AND 27001)

Providing Our Clients With High Quality, Efficiency, Standardisation, Sustainability and Predictability


Our primary mission, in addition to our employees, has been to provide the best service to our clients over the past decades. This involves putting in place the optimal management practises to ensure they receive the optimised standard service. We are enabled to achieve this in accordance with International Organisation for Standardisation (ISO). ISO creates and publishes International Standards, giving clients assurance in regards to the quality of services.

BKS Business Consultants Ltd. has been accredited by the International Organisation for Standardisation (ISO)/IEC 9001:2015 (Quality Management), (ISO)/IEC 20000-1:2018 (IT Service Management), and ISO/IEC 27001:2013 (Information Security Management) as of April 2021. Obtaining this credential also indicates to our organisation’s maturing processes as our client base grows, as well as how all of our major business areas work collaboratively to provide a stable foundation for our anticipated future growth inline with our strategy.
The ISO 9001:2015 certification attests to the introduction and maintenance of a quality management system and ensures that quality is met in all facets of their services.



ISO/IEC 20000-1:2018 is a service management system (SMS) specification that defines the specifications for an organisation to prepare, design, transition, implement, and enhance services that meet customer needs and add value.



We will use ISO/IEC 27001:2013 to develop, introduce, maintain, and improve our information security management system. We classify information and data using this framework to define potential threats and develop a risk reduction strategy.



Our clients can rest assured that the services and products we provide are of high quality, and that their data is secure.

FURTHERMORE, ACHIEVING THESE ACCREDITATION IS INLINE WITH OUR ORGANISATIONAL QUALITY POLICY, WHICH STATES, “BKS IS DEDICATED TO SUPPORTING OUR CLIENTS AND EMPLOYEES BY PROVIDING SERVICE EXCELLENCE, GENERATING VALUE THROUGH TECHNOLOGY, AND CONTINUOUSLY ENHANCING OUR SKILLS, FACILITIES, AND PROCESSES.