Doculabs On BAM: Three Good Targets

Numerous business applications, representing various industries, can benefit from BAM technology. Three good targets for BAM technology are:

1. Multiline financial services: Leading applications are the management of processes that cross various lines of business (for example, customer accounts that span multiple products and services). Key applications are customer service or financial-adviser support, in which a client may be setting up and needing to track new accounts for multiple financial products or services.

2. Commercial/retail banking: Commercial banking cross-border and in-network funds transfer is a very process-oriented and highly regulated environment in which incomplete transactions have a huge impact. Retail banking involves similar movement of funds, although at smaller dollar volumes, and is equally susceptible to the lack of activity monitoring between hand-offs within legacy applications and across multiple institutions. Additionally, the Patriot Act has laid down additional requirements for cross-border electronic funds transfer. Significant market potential exists for BAM applications, which can monitor entire processes.

3. Insurance: The primary application in the insurance market is in claims processing within a health-care or property and casualty insurance company. A BAM application can track high volumes of both electronic and paper claims, with business rules for calling out exceptions and taking actions through initiating notifications or automated processes.

Gaurav Verma and Linda Andrews are analysts with Doculabs (www.doculabs.com), a research and consulting firm that helps organizations reduce the risk of their technology decisions.