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Bizagi and Stone Coast Fund Services: How Centers of Excellence Speed Up Digital Process Automation

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Bizagi and Stone Coast Fund Services: How Centers of Excellence Speed Up Digital Process Automation

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The Stone Coast Story – Digital Transformation Webinar Series

Right now digital leaders are using Centers of Excellence (CoEs) to speed up digital change in the enterprise. According to Gartner, “Centers of excellence accelerate the uptake of new technologies and optimize core capabilities with higher efficiency and lower costs.”

In this interactive session you’ll hear the story of hedge fund administration and consulting firm Stone Coast, currently building their CoE team to provide digital leadership, best practices and training in order to embed a culture of process digitization.

View this presentation to explore:

•When a CoE is the right strategy for accelerating progress
•Four practical steps in building your Center of Excellence
•Why Stone Coast Fund Services chose to build its CoE
•Your questions about how to create your own CoE

The Stone Coast Story – Digital Transformation Webinar Series

Right now digital leaders are using Centers of Excellence (CoEs) to speed up digital change in the enterprise. According to Gartner, “Centers of excellence accelerate the uptake of new technologies and optimize core capabilities with higher efficiency and lower costs.”

In this interactive session you’ll hear the story of hedge fund administration and consulting firm Stone Coast, currently building their CoE team to provide digital leadership, best practices and training in order to embed a culture of process digitization.

View this presentation to explore:

•When a CoE is the right strategy for accelerating progress
•Four practical steps in building your Center of Excellence
•Why Stone Coast Fund Services chose to build its CoE
•Your questions about how to create your own CoE

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Bizagi and Stone Coast Fund Services: How Centers of Excellence Speed Up Digital Process Automation

  1. 1. How Centers of Excellence Speed Up Digital Process Automation Digital Transformation Series Featuring Stone Coast Fund Services
  2. 2. Today’s speakers 2 TODAY’S HOST MAIN SPEAKER John Webster – CMO, Bizagi Derek Marshall – PMO Manager, Stone Coast Fund Services SUBJECT EXPERT Ana de Miguel Gazquez - Customer Success Manager, Bizagi
  3. 3. Global customers and partners PARTNERS
  4. 4. What is a Center of Excellence? for Process Automation A shared unit responsible for the strategy and consistent delivery of digital process automation across the enterprise
  5. 5. to accelerate the delivery of structured change across the enterprise Why build a Center of Excellence?
  6. 6. “Centers of excellence accelerate the uptake of new technologies and optimize core capabilities with higher efficiency and lower costs.” Gartner Create a culture of continuous digital improvement Goal
  7. 7. “Of the companies stating that process automation significantly exceeded their goals, 67% had a CoE” Forrester Research
  8. 8.  When operating at a high level of process maturity  Running complex operations across many business units  When you need more than a process factory – what’s your strategy? But when is a CoE for process automation the right strategy?
  9. 9. 1. Prepare the foundation for success 2. Create the perfect CoE team 3. Build your process automation capabilities 4. Work with the right tools Four steps for building a CoE
  10. 10. Prepare the foundation for success  What is your overarching business strategy?  Transform, don’t settle for change  Create a dedicated COE team  Build a foundation of knowledge  Motivate and incentivize the team
  11. 11. Create the perfect COE team Key roles: Executive Sponsor Project Manager Business Relationship Managers Central Design Team Quality Assurance Support
  12. 12. Build your process automation capabilities Choose the right first process Establish a robust feedback workflow Learn rapid / agile development methodologies
  13. 13. Work with the right tools Select a proven platform that is easy to use Focus on business user enablement Concentrate on standardization Must scale across the enterprise Implementation methodology
  14. 14. Want to learn more? www.bizagi.com Whitepaper: Building a Digital Process Center of Excellence
  15. 15. Poll Question 2 Which element is the hardest part of establishing a CoE A: Strategy – establishing a strategy that can be translated into practical steps B: People – getting the right team and executive sponsorship in place C: Process – to adopt a process-centric view for managing the business D: Technology – creating process agility in your current IT landscape
  16. 16. How Centers of Excellence Speed Up Digital Process Automation Digital Transformation Series Featuring Stone Coast Fund Services
  17. 17. Stone Coast Fund Services Hedge Fund Administrator
  18. 18. About Me Derek Marshall – PMO Manager Derek is a Group Manager at Stone Coast and leads the project management team. He brings over 20 years of IT and project management experience leading and delivering large scale, enterprise projects. Before joining Stone Coast in 2015, Derek held senior IT and project management positions at companies such as Thomson Reuters, Nike, Unum and IDEXX.
  19. 19. Objectives  Standardize operations  Increase visibility of data  Ensure regulatory compliance
  20. 20.  Document our business rules  Digitize financial processes  Create a Center of Excellence  Bizagi Operational Services & Support a.k.a B.O.S.S. Actions
  21. 21. Why Bizagi • Try before you buy • Wealth of documentation • Ease-of-use • Platform scalability • Expectation of success
  22. 22. Our Implementation • Selected Bizagi Partner InnoVelocity • Prioritized training • Self-service tutorials • Learn agile by doing
  23. 23. • Getting IT and business in the same room • Process model becomes the application (6 weeks total) • Enables conversations around data and integrations • Increases the visibility of that data in external systems • Low risk of project failure Facilitating collaboration
  24. 24. We digitized our complex cash transfer process in just six weeks
  25. 25. Why we created our CoE 1. Do the right things – selecting the right projects 2. Do things correctly – following best practices 3. Provide the training and support people need
  26. 26. What our CoE looks like We split our team into three key roles: Planning – Strategic Lead Building – Product Manager Running – Operations (Support etc.)
  27. 27. My Recommendations  Pick an expert implementation partner  Start small and prioritise team training  Use a platform that helps you to learn  Learn agile methodologies by practicing them
  28. 28. Thank you
  29. 29. Questions Answers
  30. 30. WhitepapersCase Studies For more information visit www.bizagi.com E-learning Join our next Live Demo Download for free Webinars

Editor's Notes

  • Digitize financial processes for competitive advantage
    Standardize operations to reduce complexity
    Create robust processes to ensure regulatory compliance
    Increase visibility of the organization’s data to discover important insights
    Establish a culture of continuous digital improvement
  • Creating skills needed for your CoE
  • The key thing here is what this session is all about.

    It’s the fact that the right platform facilitates collaboration between two parts of the business that often struggle to work together effectively.

    And it’s a way of allowing business units to fully understand, brief and manage their digital needs…

    While ensuring that IT retain the control they need to protect the business from spiralling costs and security issues.

    Result for us:
    Fast turn around of first project – just 6 weeks from design to up and running
    Quick results essential for gaining support across the business
    Follow up iteration
    Working in this way meant we had an extremely low risk of project failure
  • For us the Center of Excellence was an obvious step in making sure that we were:


    Select the right projects to do next, based on where we will see the most value in line with our business strategy
    Define best practice and procedures around the process of digitizing our operations
    Provide training and support to business units as they become involved in a digitization project

  • For us the Center of Excellence was an obvious step in making sure that we were:


    Select the right projects to do next, based on where we will see the most value in line with our business strategy
    Define best practice and procedures around the process of digitizing our operations
    Provide training and support to business units as they become involved in a digitization project

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