Case management, provided “as a Service,” is the answer to many current challenges for the public sector.
Political, economic and societal changes mean that public sector organizations must become extremely agile, effective and efficient. This necessitates a new level of flexible,
responsive IT capabilities. Advanced case management, delivered as a managed service, overcomes today’s resource constraints to put these capabilities within reach.
How to mitigate risk in the age of the cloudJames Sankar
The convergence of mobile, cloud computing and the Internet of
Things (IoT) heralds a new era of hyper connectivity, and with it,
high expectations from students, staff and faculty for anywhere,
anytime Internet availability and data sharing in real time.
Moving services to the cloud can deliver significant infrastructure
benefits and cost efficiencies to help the education sector meet these
new expectations, but these opportunities come with risks that are
sometimes overlooked in the rush to join the crowd in the cloud.
It’s important to consider the risks, as well as the benefits, when
making decisions around out-sourcing IT services to the cloud.
Rethinking business continuity and disaster recovery plans is vital for
ensuring that any investment in cloud services will meet the service
delivery expectation goals of institutions, now and into the future.
IDC Study on Enterprise Hybrid Cloud StrategiesEMC
White Paper discussing IDC Survey of over 650 enterprise IT decision makers that was designed to understand the evolution of the cloud across world’s largest IT organizations.
How to mitigate risk in the age of the cloudJames Sankar
The convergence of mobile, cloud computing and the Internet of
Things (IoT) heralds a new era of hyper connectivity, and with it,
high expectations from students, staff and faculty for anywhere,
anytime Internet availability and data sharing in real time.
Moving services to the cloud can deliver significant infrastructure
benefits and cost efficiencies to help the education sector meet these
new expectations, but these opportunities come with risks that are
sometimes overlooked in the rush to join the crowd in the cloud.
It’s important to consider the risks, as well as the benefits, when
making decisions around out-sourcing IT services to the cloud.
Rethinking business continuity and disaster recovery plans is vital for
ensuring that any investment in cloud services will meet the service
delivery expectation goals of institutions, now and into the future.
IDC Study on Enterprise Hybrid Cloud StrategiesEMC
White Paper discussing IDC Survey of over 650 enterprise IT decision makers that was designed to understand the evolution of the cloud across world’s largest IT organizations.
Public Sector and the Cloud: Doing more for less CGI
Cloud services bring the flexibility the public sector needs. For example, hosting a number of existing local and national applications in one place boosts cooperation between governmental organisations and provides a scalable platform for the future. http://bit.ly/sYe3at
EMC Perspective: What Customers Seek from Cloud Services ProvidersEMC
This EMC Perspective elaborates on how service providers can capitalize on the fast-growing cloud services market by being responsive to customers' goals, concerns, and performance and support requirements.
Strengthening Operational Resilience in Financial Services by Migrating to Go...run_frictionless
Operational resilience is a key area of focus for financial services firms, and could be thought of as the next goal in addressing systemic risk in the financial services sector. Regulators are also increasingly focused on this risk: it is recognised that despite many years of bolstering financial stability by enhancing financial resilience following the financial crisis, the shocks that come from the operational side can be as significant as the shocks from the financial side.
https://runfrictionless.com/b2b-white-paper-service/
Forrester: How Organizations Are Improving Business Resiliency with Continuou...EMC
This analyst report describes reasons why adoption of continuous availability is rapidly increasing, citing research on benefits they believe they can realize in their IT environment.
Business Readiness—The Key to Surviving and Thriving in Uncertain TimesDana Gardner
Transcript of a discussion on how companies and communities alike are adjusting to a variety of workplace threats using new ways of enabling enterprise-class access and distribution of vital data resources and applications.
NJVC Implementation of Cloud Computing Solutions in Federal AgenciesGovCloud Network
This paper outlines the essential steps to constructing a solid cloud computing roadmap.This paper outlines the essential steps to constructing a solid cloud computing roadmap.
Techaisle’s survey of nearly 300 large enterprises currently using desktop virtualization shows that while the virtualization market remains healthy, it also shows that perhaps customers suffer from some misperceptions about the value and benefits of desktop virtualization. While desktop virtualization should be part of the arsenal, customers should pragmatically evaluate the scenarios where virtualization might have the greatest benefit.
In this eBook, we will uncover the specifics of how a
hybrid cloud solution can transform IT management so
that you can become the leader your business needs.
We will compare traditional and hybrid requirements with
respect to three critical areas: how you’ll govern the
system, the management tools you’ll need, and what
your management opportunities will be.
All organizations need a Disaster Recovery (DR) plan, but many are unsure what is appropriate or how to scope the organization’s needs. Operating with an insufficient DR plan leaves organizations vulnerable to negative business impacts in the event of a disaster. Organizations can save time and money by properly scoping their DR plan.
The process of examining your DR plan can be broken down into a series of steps:
* Determine the current DR capability which IT can provide
* Know what DR capabilities the business wants
* Align the business’ and IT’s DR priorities
Use this Storyboard to begin the process of building your organization’s ultimate DR plan.
Cloud Computing: Is Your Bank on Board?cloudecision
Accenture stresses that, “As banks adapt to changes in their competitive and technology environments, cloud computing will play a major role. Cloud’s combination of low cost and high scalability, effectively unlimited processing power and storage, unprecedented agility and speed to market, and variable pay-per-use cost structures all support the qualities that banks will need to compete and win in the future.”
Public Sector and the Cloud: Doing more for less CGI
Cloud services bring the flexibility the public sector needs. For example, hosting a number of existing local and national applications in one place boosts cooperation between governmental organisations and provides a scalable platform for the future. http://bit.ly/sYe3at
EMC Perspective: What Customers Seek from Cloud Services ProvidersEMC
This EMC Perspective elaborates on how service providers can capitalize on the fast-growing cloud services market by being responsive to customers' goals, concerns, and performance and support requirements.
Strengthening Operational Resilience in Financial Services by Migrating to Go...run_frictionless
Operational resilience is a key area of focus for financial services firms, and could be thought of as the next goal in addressing systemic risk in the financial services sector. Regulators are also increasingly focused on this risk: it is recognised that despite many years of bolstering financial stability by enhancing financial resilience following the financial crisis, the shocks that come from the operational side can be as significant as the shocks from the financial side.
https://runfrictionless.com/b2b-white-paper-service/
Forrester: How Organizations Are Improving Business Resiliency with Continuou...EMC
This analyst report describes reasons why adoption of continuous availability is rapidly increasing, citing research on benefits they believe they can realize in their IT environment.
Business Readiness—The Key to Surviving and Thriving in Uncertain TimesDana Gardner
Transcript of a discussion on how companies and communities alike are adjusting to a variety of workplace threats using new ways of enabling enterprise-class access and distribution of vital data resources and applications.
NJVC Implementation of Cloud Computing Solutions in Federal AgenciesGovCloud Network
This paper outlines the essential steps to constructing a solid cloud computing roadmap.This paper outlines the essential steps to constructing a solid cloud computing roadmap.
Techaisle’s survey of nearly 300 large enterprises currently using desktop virtualization shows that while the virtualization market remains healthy, it also shows that perhaps customers suffer from some misperceptions about the value and benefits of desktop virtualization. While desktop virtualization should be part of the arsenal, customers should pragmatically evaluate the scenarios where virtualization might have the greatest benefit.
In this eBook, we will uncover the specifics of how a
hybrid cloud solution can transform IT management so
that you can become the leader your business needs.
We will compare traditional and hybrid requirements with
respect to three critical areas: how you’ll govern the
system, the management tools you’ll need, and what
your management opportunities will be.
All organizations need a Disaster Recovery (DR) plan, but many are unsure what is appropriate or how to scope the organization’s needs. Operating with an insufficient DR plan leaves organizations vulnerable to negative business impacts in the event of a disaster. Organizations can save time and money by properly scoping their DR plan.
The process of examining your DR plan can be broken down into a series of steps:
* Determine the current DR capability which IT can provide
* Know what DR capabilities the business wants
* Align the business’ and IT’s DR priorities
Use this Storyboard to begin the process of building your organization’s ultimate DR plan.
Cloud Computing: Is Your Bank on Board?cloudecision
Accenture stresses that, “As banks adapt to changes in their competitive and technology environments, cloud computing will play a major role. Cloud’s combination of low cost and high scalability, effectively unlimited processing power and storage, unprecedented agility and speed to market, and variable pay-per-use cost structures all support the qualities that banks will need to compete and win in the future.”
VMware Business Agility and the True Economics of Cloud ComputingVMware
New groundbreaking global survey findings demonstrate
the true value of cloud computing to the business. While it is understood in the industry that cloud computing provides clear cost benefits, CIOs are having difficulty getting a true fix on the business value that cloud might offer beyond cost reduction. These survey results reveal a direct link between cloud computing and business agility—how business outcomes are associated with agility, the role of IT for agile companies and the importance of cloud computing to business leaders.
Netmagic solutions, leading IT Managed service provider with Data centers & Cloud Computing in India fulfills your entire IT infrastructure requirements: from collocation services to dedicated hosting, diaster recovery & data Storage solutions.
The Information Agenda Guide for CSPs - Transform your business through information and analytics. The elements of an effective Information Agenda plan for communications service providers to help ensure the right information is delivered to the right people at the right time.
AN APPROACH FOR A BUSINESS-DRIVEN CLOUDCOMPLIANCE ANALYSIS COVERING PUBLIC SE...ijmpict
The need for process improvement is an important target that does affect as well the government processes. Specifically in the public sector there are specific challenges to face .New technology approaches within government processes such as cloud services are necessary to address these challenges. Following the current discussion of „cloudification“of business processes all processes are considered similar in regards to their usability within the cloud. The truth is, that neither all processes have the same usability for cloud services not do they have the same importance for a specific company.
AN APPROACH FOR A BUSINESS-DRIVEN CLOUDCOMPLIANCE ANALYSIS COVERING PUBLIC SE...ijmpict
The need for process improvement is an important target that does affect as well the government processes.
Specifically in the public sector there are specific challenges to face .New technology approaches within
government processes such as cloud services are necessary to address these challenges. Following the
current discussion of „cloudification“of business processes all processes are considered similar in regards
to their usability within the cloud. The truth is, that neither all processes have the same usability for cloud
services not do they have the same importance for a specific company.
The most comprehensive process within a company is the corporate value chain. In this article one key
proposition is to use the corporate value chain as the fundamental structuring backbone for all business
process analysis and improvement activities. It is a pre-requisite to identify the core elements of the value
chain that are essential for the individual company’s business and the root cause for any company success.
In this paper we propose to use the company-specific value-creation for the “cloud-affinity” and the
“cloud-usability” of a business process in public sector considering the specific challenges of addressing
processes in cloud services. Therefor it is necessary to formalize the way the processes with its
interdependencies are documented in context of their company-specific value chain (as part of the various
deployment- and governance alternatives (e.g. security, compliance, quality, adaptability)). Moreover, it is
essential in the public sector to describe in detail the environmental / external restrictions of processes..
With the use of this proposed methodology it becomes relatively easy to identify cloud-suitable processes
within the public sector and thus optimize the public companies value generation tightly focused with the
use of this new technology.
The Federal government today is in the midst of a revolution. The revolution is challenging the norms of government by introducing new ways of serving the people. New models for creating services and delivering information; new policies and procedures that are redefining federal acquisition and what it means to be a federal system integrator. This revolution also lacks the physical and tangible artifacts of the past. Its ephemeral nature, global expanse and economic impact all combine in a tidal wave of change. This revolution is called cloud computing.
AGILE CLOUD: MANAGING THE EMPOWERED USERdinCloud Inc.
As important as the back end technologies of virtual data center operations, application virtualization
and orchestration may be, a substantial portion of cloud’s ‘magic’ is its ability to provide new forms of
support to line-of-business staff, providing advanced automation options for functions that were
previously poorly automated or entirely manual.
Customer centric digital platform for utilities: Process to valueCapgemini
New digital technologies like smart metering and smart
homes, together with the rise of mobile connectivity and
social media, are playing a major role in transforming
how utilities and customers interact
To prosper in this new environment insurance companies can look to the cloud, in conjunction with other technologies, to help drive reinvention of their business model to offer new services and create direct, multi-channel relationships with customers
COVID-19 heightened chronic challenges within the global healthcare industry. It became a catalyst amid fierce competition and tight regulations for health providers and payers to focus on digital health, cybersecurity, patient data transparency, and a variety of customer-centric and operational enhancements. As a result, we found the 2022 trendline pointing to improvements in access and quality of care.
Healthcare challenges such as optimizing the cost of care while simultaneously enabling personalized interventions and consumer-friendly shoppable services are long-standing − but, historically, the industry has been slow to react.
Read our Top Trends 2022 report to examine the lingering ramifications of the pandemic, responses from medical and insurance organizations, and the worldwide impact of ever-changing regulatory standards and mandates.
A combination of factors − the pandemic, catastrophic weather events, evolving policyholder expectations, and insurers’ drive for operational efficiency and future relevance − are sparking P&C industry changes.
In a post-COVID, new-normal environment, the most strategic insurers are building resilient, crisis-proof enterprises poised to take advantage of emerging and future business opportunities. They are leveraging advanced data analytics and novel technologies to assure agility and achieve positive revenue and customer satisfaction outcomes. Competitive advantage will hinge on accelerated digitalization and faster go-to-market. Therefore, win-win partnerships and embedded services with InsurTechs and other ecosystem players are critical.
Read Capgemini’s Top P&C Insurance Trends 2022 for a glimpse at the tactical and strategic initiatives carriers are undertaking to boost customer-centricity, product agility, intelligent processes, and an open ecosystem to ensure profitable growth and future-readiness.
This analysis provides an overview of the top trends in the commercial banking sector as they shift to technology high gear to boost client efficiency and battle a volatile, uncertain, competitive, and evolving landscape.
First, it was retail banking. Now, advanced technology is shifting to – and disrupting − the commercial banking space. Many commercial banks, known for paperwork, red tape, and branch dependency, were unprepared to support clients during their post-COVID-19 ramp-up. But now, the digital pivot to new mindsets, partnerships, and processes is in overdrive.
As commercial banks grapple with competition from FinTechs, BigTechs, and alternative lenders, their inability
to fulfill SME demands and pandemic after-shocks necessitates transformative process changes and a move
to experiential, sustainable, and inclusive banking models. We expect banks to strive to meet the demands
of corporate clients and SMEs by digitally transforming critical workflows and improving client experience.
Additionally, incremental process improvements in the middle and back-office that leverage intelligent
automation will keep the competition at bay because engaged clients are loyal.
Adopting newer methods to mine data and moving to as-a-Service models will prepare commercial banks
to flexibly respond to newcomers and find ways to co-exist through effective collaboration. The time has come for commercial banks to put transformation on the fast track as lending losses in wallet and market share could spill over to other functions!
How incumbents react and respond to 2022 trends could determine their relevancy and resiliency in the years ahead.
The Covid-19 pandemic necessitated the payments industry undergo a facelift, sparked by novel approaches from new-age players, fostered by industry consolidation, and customers’ demand for end-to-end experience. Crossing the threshold, the industry is entering a new era – Payments 4.X, where payments are embedded and invisible, and an enabling function to provide frictionless customer experience. As customers make a permanent shift to next-gen payment methods, Digital IDs are critical for a seamless payment experience. The B2B payments segment is witnessing rapid digitization. BigTechs, PayTechs, and industry newcomers are ready to jump in with newfangled solutions to help underserved small to medium-sized businesses (SMBs).
As incumbents struggle with profits, new-age firms are forging ahead to take the lead in the Payments 4.X era by riding the success of non-card products and services. The new era demands collaboration, platformification, and firms can unleash full market potential only by embracing API-based business models and open ecosystems. Data prowess and enhanced payment processing capabilities are inevitable to thrive ahead. The clock is ticking for banks and traditional payments firms because the competitive advantage is not guaranteed forever. As industry players seek economies of scale, consolidations loom, and non-banks explore new territories to threaten incumbents’ market share. While all these 2022 trends are at play, central bank digital currency (CBDC) is emerging globally and might open a new chapter in the current payments landscape.
As we slowly move out of the pandemic, financial services firms have learned the criticality of virtual engagement to business resilience. Wealth management firms will need capabilities to cater to new-age clients and deliver new-age services. This report aims to understand and analyze the top trends in the Wealth Management industry this year and beyond.
A year ago, our Top Trends in Wealth Management report emphasized how the pandemic sparked disruption and digital transformation and changing investor attitudes around Environmental, Social, and Corporate Governance (ESG) products. As we begin 2022, many of those trends continue to hold as COVID-19’s wide-reaching effects continue to influence the wealth management industry.
As wealth management (WM) firms supercharge their digital transformation journeys, investments in cybersecurity and human-centered design are becoming critical to building superior digital client experience (CX). Another holdover trend − sustainable investing – is gaining mainstream attention and generating increasingly sophisticated client demands. Data and analytics capabilities will become ever more essential for ESG scoring and personalized customer engagement. As large financial services firms refocus on their wealth management business while new digital players make industry strides, competition is becoming historically intense. Not surprisingly, client experience is the new battleground.
This analysis provides an overview of the top trends in the retail banking sector driven by the competition, digital transformation, and innovation led by retail banks exploring novel ways to create and retain value in evolving landscape.
COVID-19 caught banks off guard and shook legacy mindsets to the core. With 20/20 (2020) hindsight, firms are more aware, digitally resilient, and financially stable as they head into 2022. The trials of the past 18 months forced firms to shore up existing business and consider new models and revenue streams.
Customer-centricity remains at the top of most FS agendas and is a 2022 focal point. Banks will focus on achieving operational excellence as diligently as delivering superior CX. In 2022 and beyond, it will be paramount for FIs to explore and invest in new technologies to remain relevant and resilient.
Banking 4.X will arrive in full force in 2022 with platform-supported firms monetizing diverse ecosystem capabilities and aggressively harvesting data to create experiential customer journeys through intelligent and personalized engagements. The new era will compel future-focused banks to finally abandon legacy infrastructure and collaborate with third-party specialists to solidify their best-fit, long-term roles. Increasingly, open platforms will make banks invisible as banking becomes embedded into customer lifestyles. At the same time, banks will shed asset-heavy models and shift to the cloud for greater agility, speed to market, and faster innovation. The shift will act as a precursor to adopting new technologies on the horizon – 5G and Decentralized Finance.
The recent past was filled will extraordinary lessons for financial institutions. Now is the time to act on those learnings and move forward profitably.
While COVID-19 has sparked the demand for life insurance, it has also exposed the operating model vulnerabilities in distribution, servicing, and customer retention. In a post-COVID, new-normal environment, insurers need to enhance their capabilities around advanced data management and focus on seamless and secure data sharing to provide superior CX and hyper-personalized offerings. Accelerated digitalization and faster go-to-market are vital to remaining competitive, and win-win partnerships with ecosystems are critical in the journey.
Read our Top Life Insurance Trends 2022 to explore the tactical and strategic initiatives carriers undertake to acquire competencies around customer centricity, product agility, intelligent processes, and an open ecosystem to ensure profitable growth and future readiness.
Property & Casualty Insurance Top Trends 2021Capgemini
The Property & Casualty insurance landscape is evolving quickly with the changing risk landscape, entry of new players, and changing customer expectations. The ripple effects of COVID-19 on the P&C insurance industry and natural disasters such as forest fires have adversely impacted insurance firm books.
In this scenario, to ensure growth and future-readiness, the most strategic insurers strive to be ‘Inventive Insurers’ – assuming a customer-centric approach, deploying intelligent processes, practicing business resilience and go-to-market agility, and embracing an open ecosystem.
Read our Property & Casualty Insurance Top Trends 2021 report to explore the strategies insurers are adapting to remain competitive amidst the evolving business landscape and how they can explore new ways to enhance their profitability.
A combination of factors such as demographic changes, evolving consumer preferences, and desire to become operationally efficient were already spurring changes in the life insurance industry. Enter 2020 – the COVID-19 pandemic is having a significant impact on the industry.
At the peak of disruption, the focus was on ensuring business continuity, but new initiatives are cropping up to tackle the challenges as the industry is adapting to the new normal.
Furthermore, COVID-19 has acted as a catalyst, pushing life insurers to prioritize their efforts on improving customer centricity, developing go-to-market agility, making processes intelligent, building business resilience, and embracing the open ecosystem.
Read our Life Insurance Top Trends 2021 report to explore the strategies insurers are adopting to manage the changing market dynamics.
The uncertainty of 2020 is setting the global tone for the immediate future in the financial services industry. So it is no surprise banks are laser-focused on business resilience, emphasizing both financial and operational risks. The need to adapt quickly to new normal conditions through virtual customer engagement is clear.
Customer centricity continues to drive commercial banks’ solution designs. And, the pandemic compelled products that deliver immediate client value ‒ quick digital onboarding, seamless lending, and support for small and medium-sized enterprises (SMEs). The onus is now on banks to go to market more quickly, which requires the implementation of intelligent processes and integrating corporates’ enterprise resource planning (ERP) systems with banking workflows.
To achieve go-to-market agility, banks across the globe are investing in and collaborating with FinTechs. Many of these partnerships are focused on boosting digital lending and providing seamless support to anxious small-business clients in need of assurance.
With newfound impetus for FinTech collaboration, commercial banks have picked up their step on the path toward OpenX. COVID-19 made it evident that survival during turbulence is manageable through collaboration with ecosystem players.
Read our Top Trends in Commercial Banking 2021 report to explore the strategies banks are adapting to transform their businesses from a product-led, siloed model to an experiential and agile plan.
When we published the Top Trends in Wealth Management 2020, little did we foresee the pandemic that would sweep through the world and disrupt life as we knew it. Yet, when we reviewed last year’s trends, we found that many still hold and some have taken on even greater relevance. One such trend is sustainable investing, which had begun to gain prominence as investors became more aware of ESG considerations, and firms rolled out more sustainable investing offerings. Another trend that has accelerated in the post-COVID world is the importance of investing in omnichannel capabilities and technologies such as artificial intelligence (AI) to enhance personalization and advisor effectiveness. The pandemic has driven wealth management firms to accelerate their digital transformation journey, with some immediate focus areas being interactive client communications and digital advisor tools.
There is no denying that time is of the essence. Yes, budgets are tight, but the Open X ecosystem offers wealth management firms opportunities to reimagine their operating models and deliver excellent customer experience cost-effectively.
Top trends in Payments: 2020 highlighted the payments industry’s flux driven by new trends in technology adoption, innovative solutions, and changing consumer behavior. The pandemic has tested the digital mastery of players, who are already grappling with transition. Non-cash transactions are on a robust growth path, accelerated by increased adoption during COVID-19. Regulators are working to instill trust and address non-cash payments risk amid unparalleled growth as players collaborate to quell uncertainty. Regional initiatives, such as the P27 (Nordics real-time payments system) and the EPI (European Payments Initiative), are gaining traction in response to country-level fragmentation and competition.
Investment in emerging technologies is looked upon as an elixir to mitigate fraud, data-driven offerings are being considered for providing value-added propositions, and distributed ledger technology is in focus for digital currency solutions, efficiency enhancement, and cost gains. New players, such as retailers/merchants, are integrating payments into their value chains while technology giants are upscaling their financial services game by weaving offerings around payments as a center stage. Constrained by budgets, firms consider business models such as Platform-as-a-Service (PaaS) to provide cost-effective and superior customer experience.
A combination of factors, including demographic changes, evolving consumer preferences, and regulatory and compliance mandates, were already spurring change in the health insurance industry. Enter 2020 and the COVID-19 pandemic, which is having sweeping implications for the industry.
At the peak of disruption, the focus was on ensuring business continuity, but new initiatives are cropping up to tackle the challenges as the industry adapts to the new normal.
Furthermore, some changes are here to stay, and it will be prudent for the industry players to be resilient to the market shifts by being agile, improving member centricity, making processes intelligent, and embracing the open ecosystem.
Read our Health Insurance Top Trends 2021 report to explore the strategies insurers are adopting to manage the external pressures.
The banking industry’s resilience is being tested as banks navigate through a remarkable 2020 filled with uncertainties. The impact of COVID-19 has been about setting the tone for future operational models. Retail banks have shifted focus towards integrated risk management with a more holistic view of operational risks. Adapting to the new normal, banks have prioritized cost transformation while engaging customers virtually. Incumbents sought to be more responsible within fast-changing environmental conditions and ESG remained a critical focus.
To provide more experiential services, banks are leveraging techniques such as segment-of-one to hyper-personalize offerings while aiming to humanize digital channels for increased engagement. Banks are also revamping middle and back offices, going beyond the front end leveraging intelligent processes. Open X is enabling banks to play on their strengths and use the expertise of ecosystem players. Going forward, banks are poised to become an enhanced one-stop shop by providing consumers value-adding FS and non-FS experiences.
To acquire customers in cost-effective manner, retail banks are tapping value-based propositions ‒ such as POS financing and mortgage refinancing. Further, Banking-as-Service provides incumbents a way to provide their high-value offerings to other players. In preparation for the future, banks will be looking to improve their go-to-market agility by leveraging the benefits of cloud. This analysis outlines the top 10 trends in retail banking for 2021.
Explore how Capgemini’s Connected autonomous planning fine-tunes Consumer Products Company’s operations for manufacturing, transport, procurement, and virtually every other aspect of the supply-value network in a touchless, autonomous way.
Financial services is undergoing a paradigm shift that is forcing incumbent retail banks to rethink growth strategies as they struggle to remain relevant. Growing competition from BigTechs, FinTech firms, and challenger banks has added to the complexity created by increasingly stringent regulatory and compliance requirements. Customers now expect a seamless customer journey and personalized offerings because they have become accustomed to top-notch individualized service from GAFA giants Google, Apple, Facebook, and Amazon. The changing ecosystem offers established banks new, unexplored opportunities and encourages a transition beyond traditional products to meet the exacting requirements of today’s customers. Bank collaboration with FinTech and RegTech partners is becoming commonplace. Incumbents are exploring point-of-sale financing and unsecured consumer lending, while they also boost their digital channel competencies to reach a broader customer base. Banks are beginning to accept open APIs and are working with third-party specialists to create an open shared marketplace. Technological advancements such as AI are fueling efforts to evolve customer onboarding and touchpoint processes. Increasingly, banks are turning to design thinking methodology to understand the customer journey, extract deep insights, and develop a more refined user experience across the customer lifecycle.
Our analysis of the top retail banking trends for 2020 offers a glimpse into the fast-changing banking ecosystem and explores the tools and solutions being used to face new-age challenges.
Aspects of the life insurance industry have remained constant for years – and so have premiums. Traditional savings products have taken a huge hit in terms of attractiveness because low interest-rates prevail. Meanwhile, the risk landscape is shifting, and insurers need to align better with the emerging business environment, manage changing customer preferences, and improve operational efficiencies. Within today’s scenario, industry players are undertaking tactical and strategic shifts in attempts to manage unpredictable market dynamics. Insurers must develop alternative products to breathe new life into policies and leverage emerging technologies (artificial intelligence (AI), analytics, and blockchain) to improve efficiency, agility, flexibility, and customer-centricity.
Read Top Trends in Life Insurance: 2020 for a look at the innovative steps future-focused insurers are considering to meet industry challenges and opportunities.
The health insurance industry is evolving and undergoing significant changes. As the risk landscape shifts, insurers are working to improve operational efficiencies, meet evolving customer preferences, and align better with the changing business environment. Accordingly, payers must adapt and align business models and offerings. An incisive tactical approach is required to accommodate members’ needs and related emerging risks — medical, health, and environmental. Advanced technologies such as artificial intelligence, analytics, automation, and connected devices are enabling insurers to manage these changes proactively, partner with members, and help to prevent risks, all the while continuing to fulfill payer responsibilities.
Read Top Trends in Health Insurance: 2020 to learn which strategies insurers are adopting to navigate and align with today’s challenges.
Similar to other financial services domains, payments is evolving into an open ecosystem. The EU’s Payment Services Directive (PSD2) pioneered open banking by encouraging banks and established payments players to securely open the systems to foster competition, innovation, and more customer choices. In tandem with non-cash transaction growth, regulations are driving banks and payments firms to expand their array of payment methods and channels. Governments are encouraging financial inclusion by also promoting the adoption of non-cash payments. Increasingly, merchants and corporates seek to offer alternative payment systems because of widespread popularity among consumers. Alternative payments also enable merchants to provide real-time and cross-border payments to boost business efficiency.
Banks, payment firms, card firms, BigTechs, FinTechs, and other players are continuously developing new technology to cash in on market changes. However, data breaches and fraud continue to hinder innovation as firms devote countless resources each year to address security issues. Many governments are also designing new regulations to reduce ecosystem threats. All these measures are expected to make the current ecosystem much more secure and simple for players as well as customers.
Top Trends in Payments: 2020 explores and analyzes payments ecosystem initiatives and solutions for this year and beyond
Transforming the Public Sector Affordably in the Cloud
1. White Paper
TRANSFORMING THE PUBLIC SECTOR
AFFORDABLY IN THE CLOUD
Case management, provided “as a Service”,
is the answer to many current challenges
Abstract
Political, economic and societal changes mean that public
sector organizations must become extremely agile, effective
and efficient. This necessitates a new level of flexible,
responsive IT capabilities. Advanced case management,
delivered as a managed service, overcomes today’s resource
constraints to put these capabilities within reach.
November 2012
3. Table of Contents
Executive Summary ........................................................................4
The Public Sector’s Challenge ..........................................................5
Meeting the expectations of empowered citizens .............................................................. 5
Resource constraints seem to limit technology choice ....................................................... 5
The Solution: Case Management Provided as a Managed Service ..........6
Why case management? .................................................................................................... 6
Why “as a Service”? .......................................................................................................... 7
Business Benefits of the Approach ...................................................8
The Case-as-a-Service Solution from EMC and Capgemini .................. 10
Conclusion .................................................................................. 11
Transforming the Public Sector 3
Affordably in the Cloud
4. Executive Summary
Public sector organizations face demands from increasingly empowered
and connected citizens for more, faster, and better services. Other pressures
include the need to minimize risk, collaborate and share information, and deal
with a complex systems scenario. To meet these demands, the organizations need
configurable solutions leveraging flexible, responsive IT systems. An advanced case
management solution is ideal because it can address the vast majority of public
sector activities, including correspondence management, citizen registration,
investigations, and digital evidence management.
Today’s resource constraints might seem to put solutions like this out of reach.
However, the constraints can be overcome by adopting an advanced, end-to-end case
management solution provided as a cloud-based managed service. Compared with
a traditional implementation, this approach can save 20-30% of overall costs,
principally through faster delivery and use of preconfigured business processes
and workflow. Benefits include faster payback, greater flexibility, better decisions
and higher productivity. Citizens enjoy improved services as a result.
EMC and Capgemini have pioneered this approach with their Case-as-a-Service
offering. The Case-as-a-Service approach means public sector leaders can realize
their vision of an agile, effective and efficient organization – and can start doing
so today.
Transforming the Public Sector 4
Affordably in the Cloud
5. The Public Sector’s Challenge
Meeting the expectations of empowered citizens
Public sector agencies and government departments, like organizations in all sectors,
face demands from increasingly empowered and connected citizens for more, faster,
and better services.
But these organizations are also under intense pressure to minimize risk. Making
the right decisions – which includes preventing fraud and abuse – is not enough:
it is also necessary to be able to show that the decisions were right in the event
of an appeal or investigation.
Public sector organizations are also expected to collaborate and share information
with relevant parties (critical in areas like child protection) as well as ensure data
reliability and security; handle complex inputs from multiple systems, channels,
and organizations; and leverage legacy systems that are difficult and costly to
update.
The needs are clear: become more agile, effective and efficient. These aims are only
achievable with flexible, responsive IT systems that allow decisions to be based
on comprehensive, instantly available information.
Resource constraints seem to limit technology choice
However, public sector options are limited by today’s heavy cost pressures.
They need to avoid major capital expenditures and long-term contractual
lock-in. Any solution must be up and driving efficiencies in days or weeks,
not months or years.
"We live in a hyper-connected world that has provided new and beneficial
experiences in our personal and social lives. A good example is our experience
of social media but a consequence is a growing expectation that we should be able
to interact in a similar way with private and public sector organizations that provide
citizen-facing services.” – Bill McCluggage, Chief Technologist – Public Sector at EMC
Computer Systems (UK) Ltd.
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6. The Solution:
Case Management Provided as a Managed Service
Why case management?
Case management addresses the full lifecycle
of information, which comprises capturing Business scenario 1:
information in various sources and formats, Correspondence management
managing and processing it as an aid to decision- The agency receives letters of complaint and
making, providing the right user experience, and appeal which are distributed to teams who
outputting decisions or outcomes. investigate and respond – usually manually.
There are delays as paper is routed through the
The vast majority of public sector activities organization, and stored paper takes up
can be understood in terms of case management. expensive office space.
Correspondence management, citizen The agency adopts case management,
registration, investigations, and digital evidence implemented as a managed service, to provide
management are just a few examples. a standardized process for all incoming
correspondence, moving it to digital channels
In all these situations, effective automation where possible.
of case management processes allows staff
The process speeds up dramatically. Scanning
to base their decisions on comprehensive accuracy improves to 95%, reducing effort
information, available instantly and from required in processing correspondence by over
anywhere. It makes collaboration effortless, and 2000 days. Staff have earlier access to
processes agile enough to respond rapidly to correspondence, which reduces processing
times by many days. Automation accelerates
changing stakeholder needs and expectations.
the process further. Correspondence is always
The right case management solution gives public routed to the right department, is processed
sector leaders the power to streamline the way efficiently, and receives the right response.
Costs are reduced and errors avoided. Filing
their organization works. It eliminates paper
requirements are minimal.
at the point of origin and provides all decision-
makers with a single version of the truth,
available wherever and whenever required.
"Casework is a fundamental component of most public service delivery chains,
and it is often seen as a time-consuming and wasteful 'necessary evil' of public sector
bureaucracies. However, the maturing cloud-based services market has provided
an opportunity to redesign casework using an 'as a Service' approach." – Bill
McCluggage, Chief Technologist – Public Sector at EMC Computer Systems (UK) Ltd.
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7. Why “as a Service”?
We have just argued that an effective case Business scenario 2:
management solution can address many public Citizen registration
sector challenges. However, given the This public sector organization deals with
constraints currently faced by public citizens who register for a service or benefit.
organizations, the costs of implementing and The current process is fragmented, with a
maintaining such systems can seem prohibitive, mix of online applications and expensive
paper-based activities. A single view of process
and their time to value unacceptable.
and information is difficult to achieve, and cases
The answer is to make case management are often misplaced.
available as a cloud-based managed service. The solution is to introduce digital working
This is a low-risk approach that minimizes both practices via the adoption of case management
upfront investment and total cost of ownership as a managed service. With the “as a Service”
approach, the agency sees value on day one
(TCO), while providing maximum flexibility and
because the case management solution is ready
rapid time to value. for immediate use (its preconfigured rules
can be tweaked later to meet the agency’s
The “as a Service” concept means that
specific needs).
organizations have access to a fully-functioning,
ready-configured case management system, Processes rapidly become more reliable
and staff are freed up from routine
hosted and supported in a third-party data
administration to tackle customer-facing tasks.
center, and can pay for it on a per-case basis. The risk of fraudulent claims, or incorrect
There is no need to invest in new infrastructure rejection of claims, is greatly reduced because
or support staff, or to deal with the cost and staff have full visibility of an individual’s
complexity of implementing and operating a overall position.
case management solution on site.
Since using a managed service does not require a large capital outlay, organizations can
procure the solution through existing frameworks without a lengthy tender process. If business
requirements grow or change, then they have the flexibility to extend or scale the solution,
again without the need for capital outlay or investment in new infrastructure.
“The public sector can no longer afford the traditional approaches to IT. There is now
a ‘burning platform’ that demands 20%+ budget reductions. IT needs to play a key
role in enabling these reductions, and ‘as a Service’ approaches are a way to make
that happen.” – Nick James, Vice President, Capgemini Public Sector
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8. Business Benefits of the Approach
A case management solution provided as a managed service can offer lower TCO,
accelerated delivery (weeks instead of months), greater flexibility, and a richer user
experience. User organizations get a fully integrated solution that addresses public
sector processes and applications with low risk and a rapid time to value.
In fact, compared with a traditional implementation we believe that this approach
can save 20-30% of overall costs. The chart compares the cost/benefit profile
of a typical case management implementation with case management provided
as a managed service.
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9. This saving is achieved in four main ways:
The cost to implement is reduced by using a solution that is already available.
The cost to get started is reduced by leveraging the “as a Service” model.
Services can be purchased on a utility basis, without the need
for a large upfront investment.
The cost to run and maintain solutions is reduced by using a single
platform to meet varied business needs.
With the right case management solution
and hosting options, this approach:
Reduces time to value and increases payback.
Increases flexibility.
Enables fact-based decisions. Improves productivity and efficiency.
Increases service levels.
Reduces procurement and implementation risk.
Ensures compliant and secure information management.
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10. The Case-as-a-Service Solution from EMC and Capgemini
Business scenario 3: Investigations
This agency conducts long investigations with large amounts of data and multiple workflows. Its 40,000
users process around 20,000 case per annum. Its current solutions are outdated and unwieldy and have
become expensive to run and maintain.
By using case management, provided as a managed service, this organization gains end-to-end visibility of,
and control over, progress and performance, even for highly complex business processes. The agency not
only streamlines existing processes but also gains the flexibility to respond rapidly to future change, since
end-users are empowered to reconfigure processes, workflow and management information themselves
with no risk to governance or security.
Our pioneering Case-as-a-Service offering is an end-to-end case management
solution provided as a cloud-based managed service. It is delivered as a pre-existing,
IL3 accreditation ready platform, offering the benefits of speed, simplicity, cost-
effectiveness, and in-built innovation.
The solution provides pervasive governance, with full audit trail and management
of records retention. It offers a rich user experience, with access to information from
any device, any time. It comprises a completely integrated, proven technology stack:
F u l l y m a n a g e d s e r v i c e Hosted, operated and supported by Capgemini, so client needs
no IT resources to deploy or maintain it
Secure cloud-based Secure and flexible hosted environment based on VCE Vblock
environment technology comprising VMware for virtualization, Cisco servers,
EMC Ionix for provisioning, and EMC for storage
Document capture Capture based on EMC Captiva, which transforms paper from a
liability into a business advantage by converting paper, faxes
and other content into application-ready information
Case management Case management and processing based on EMC Documentum
and processing xCP, which leverages predefined accelerators and best
practices to automate public sector processes
Personalized Output based on EMC Document Sciences, which allows rich,
Branded output personalized and branded communication that improves
constituent relationships and perceptions
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11. Conclusion
In the current economic and political climate, the public sector needs to do the same
– or more – for less. The answer is to use the latest case management solutions,
enabled by an integrated technology stack. But major technology implementations
can seem out of the question because of spending constraints.
By adopting case management on a managed service basis, organizations
can overcome these constraints and obtain the flexibility to meet the changing
demands of citizens and other stakeholders. Authorized users are empowered
to reconfigure processes, workflows, correspondence outputs, and management
information in response to shifting requirements. Strong information governance
and security are automatically maintained. Since the solution is completely scalable,
IT departments avoid the need to provision hardware or forecast requirements.
There are no contractual lock-ins.
With the CaaS approach, public sector leaders can immediately begin to realize their
vision of an agile, effective and efficient organization.
“Today’s political, economic and societal changes require governments to be much
more agile, something that doesn’t come naturally. A Case-as-a-Service approach is
now a viable and cost-effective alternative to previous options." – Bill McCluggage,
Chief Technologist – Public Sector at EMC Computer Systems (UK) Ltd.
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12. About EMC
EMC Corporation is a global leader in enabling businesses
and service providers to transform their operations and deliver
IT as a service. Fundamental to this transformation is cloud
computing. Through innovative products and services,
EMC accelerates the journey to cloud computing, helping
IT departments to store, manage, protect and analyze their
most valuable asset — information — in a more agile, trusted
and cost-efficient way.
Additional information about EMC can be found
at www.EMC.com.
About Capgemini
With around 120,000 people in 40 countries, Capgemini is one
of the world's foremost providers of consulting, technology and
outsourcing services. The Group reported 2011 global revenues
of EUR 9.7 billion. Together with its clients, Capgemini creates
and delivers business and technology solutions that fit their
needs and drive the results they want. A deeply multicultural
organization, Capgemini has developed its own way of working,
the Collaborative Business Experience™, and draws on
Rightshore®, its worldwide delivery model.
More information is available at www.capgemini.com
Rightshore® is a trademark belonging to Capgemini
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