Industry
- Insurance
Reinventing the Insurance Industry with a Digital-first Strategy
Highlights
- TCS Integrated Business Workflow Solution (IBWS) facilitates the easy setup of process states, rules, and forms across the workflow with integrated case management capabilities.
- The solution enables the cognitive approach to eliminate manual touch points across business processes and helps BFSI organizations establish a better straight-through processing capability.
- Users can create new capabilities by leveraging the solution’s pre-built, ready-to-implement business components.
In this article
The Challenge
TCS Integrated Business Workflow Solution helps BFSI organizations interconnect disparate systems to streamline workflow, achieve enhanced straight-through processing capability, and maintain quality assurance.
The business workflow solution helps track processes at every step in order to meet the SLAs. It enables rapid workflow configuration or creation, making the entire process more agile and responsive to business change.
Clients across BFSI companies are looking to streamline their workflows due to the diversity of work items and variation in case volumes. However, the lack of integrated workflow capability, usage of multiple channels, and limited access to centralized data lead to manual handover between systems and duplication of data entry. This requires automation of business processes and integration of all digital channels. Further, the lack of visibility to internal stakeholders on handling pending cases and the lack of audit of records pose challenges in case management.
Solution
TCS IBWS enables workflow configuration while enabling transparency across processes .
The solution can be leveraged for:
Configurability and orchestration: Leverage a configurable form builder with drag and drop options to enable workflow and case management simulation.
Access control: Enable dynamic role creation with entitlements and self-service capabilities to provide user access along with workflow-based approvals.
User management: Leverage form-based authentication and active directory integration to manage multiple user access and entitlements.
Reports and notifications: Leverage live dashboard and KPI metrics to support business activity monitoring and track cases systematically.
Integration and implementation: Enable UI integration through a rule-based routing engine supported by on-premises and cloud-based implementation models.
The Benefits
Reduced operational costs with optimized process cycle time.
Removal of manual errors and workflow configuration.
Improved employee productivity by 20% based on the scale of automation of business processes.
Reduced cycle time ranging from 40% to 150%.
High visibility on the business processes with workflow configuration and self-service revolution.
30% improvement in the quality assurance process with business-specific dashboards.
Why TCS
Strategic partnerships for faster value identification and realization.
Greater certainty with mitigation of execution risks via the COIN™ ecosystem.
Practical approach in business and operations strategy build-out along with self-service revolution.
Re-imagined business processes with technologies ranging from ‘board room’ to ‘the floor’.
Machine First Delivery Model to address workflow and case management-related challenges.
Ready-to-deploy business workflow solution which can be implemented on premise or cloud.
Contact
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