Process study and re-engineering of process - Board Room thru Shop Floor approach
 

ANC’s seven-stage process to help in BPR exercise adopts a pragmatic and holistic view of organizations’ operations, risk and compliance and subsequently suggests changes to their existing business.

The 7-stage process is outlined below:
 
Stage-1

Business and technology experts’ work with customers to obtain a detailed level understanding of their current and future business models in this phase. This also includes discussion with the respective team members, Head of Departments across functions and products. Comprehensive review is initiated for the existing processes along with system level workflow in the following areas:

» Account opening and client registration process across products:
 
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 Broking operations
Depository business
PMS/Private wealth group
Margin trading
» Trade processing
» Settlement process( stock and funds)
» Compliance and Risk management across processes.
» Branch and HO workflow mechanism
» MIS requirement
     
Stage-2

The diagnostic study, together with the activities in stage 1, leads to the preparation of a gap analysis document. This document highlights bottlenecks/risks and recommendations on points of control in the existing way of functioning.

Stage-3
The key impact areas based on the above study are identified by the Management to formulate a future roadmap.
Stage-4
The resulting analysis and roadmap provide inputs for areas requiring any business process realignment. This stage focuses on defining of the revised operating procedures at process level and system level.
Stage-5

Cluster of initiatives or recommendations to be implemented are drawn up along with broad timelines and the required technology infrastructure. These timelines and requirements are checked  with the vendors for the development of the modules recommended and prioritized to roll out a common implementation roadmap
Stage-6

This phase involves setting up of a team, with representation from business, operations, technology and compliance functions, to periodically review the UAT and Implementation of the product/modules/recommendations. This facilitates in reviewing the progress of the project and helps in initiating remedial measures with senior management involvement as and when required.
Stage-7
Preparation of standardized operating procedures (SOP) of realigned processes.
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