Your challenges
You want to increase efficiency and productivity while managing your risks. For this, it is crucial to analyse and optimise processes and assess their compliance with your internal policies. Indeed, there are often gaps between how business processes should work and how they work in reality, because of complexity, changes that occur over time and deviations for operational reasons.
The traditional way to analyse and fix processes is through interviews, workshops, observations and document analysis. This approach is time-consuming and is complicated by the fact that people often only see part of processes and miss the complete picture.
How it works
“Process Intelligence” is a data-enabled approach where we quickly structure, federate and analyse multiple computer datasets generated by end users in their daily activities. The aim is to model all steps of a process (business, IT or financial) in order to create a true visual representation of that process. Our focus is on analysing the efficiency and conformity of a targeted end to end process.
Our services include:
1. Process discovery: We extract activity-related data to identify a full process map. Our tools then bring the process to life, comparing it to expected ideals and producing a custom-made dashboard to support the analysis.
2. Process visualisation: Inefficiencies within the real-world process can be easily identified based on a visualised process map. This can then help in standardisation across an organisation and to drive costs down, providing 100% clarity into process activities.
3. Conformance checking: We reveal how existing processes differ from the ideal/expected way of working, as well as highlighting the impact of these changes on wider operations.
4. Time analysis: By successfully drilling down into the time required to complete individual elements of processes, our tools can help to identify hold-ups and bottlenecks in the flow of data and support future improvement.
Analyses can be performed on any type of dataset and for any process and industry, as shown below:
- Accounts payable / receivable
- Trading of financial instruments
- Purchase to Pay
- Order to Cash
- Order Management for Transfer Agent
- Real Estate contract management
- Insurance claims management
- Travel Expenses
- KYC Client on-boarding
- Credit allocation
- IT Change and Release Management
- …and many more!
At PwC, we believe that adopting a data-enabled approach to process management ensures organisations can identify, monitor and improve the real processes that individuals within a business use on a daily basis.
Your benefits
- Analyse the processes on a very quick, innovative and reliable way
- Reduce costs of operations by reducing re-work and increasing process automation
- Identify unwanted behaviours, e.g. fraudulent transactions and duplicate payments
- Optimise shared service centres by improving process design and monitoring of operations
- Increase the effectiveness of internal audit teams and second lines of defence
- Identify inappropriate access rights that increase process risk
- Identify transactions where controls were circumvented
Value
Our price offer is considered on a case-by-case basis, depending on the scope and complexity of assistance for our clients.
Sponsor
Julie Batsch
Risk Assurance Partner, PwC Luxembourg
Mathieu Muller
Director, PwC Luxembourg
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