Development of process and project management methodology, business process reengineering in the State Corporation of the financial sector
Deposit Insurance Agency
With the growing scope of activities and strengthening of regulatory requirements, the Agency has an urgent need for structural changes and reengineering of current business processes. SBS Consulting was tasked with implementing the Agency’s transition to process and project management in order to improve operational efficiency, as well as the company's level of customer focus.
The project was carried out in three stages. At the first stage, methodological documents were developed in terms of project and process management, reengineering instructions, costing methodologies and key performance indicators of business processes. Methodological materials were created taking into account the specifics of the company and formed the basis of internal regulatory documents defining the procedure for the interaction of structural units and employees during the transition to project and process management. During the analysis of the main activities of the Client, a Business Process Map was generated and a list of key processes for reengineering was determined.
In the course of implementation of the proposed measures, the cost of business processes included in the reengineering contour was significantly reduced (including labor costs), target values of key performance indicators were achieved. The reorganization of core business processes, initiated with the participation of Consultants, will also affect other business processes on the basis of the internal reengineering competencies developed by the Client and will bring even more measurable effect to the Corporation.
At the second stage of the project, analysis and evaluation of current business processes were carried out, shortcomings were identified and areas for business process improvements identified, hypotheses formed for further reengineering, and targeted business processes were modeled. For each business process included in the reengineering contour, a roadmap was developed for the implementation of the target business process, key performance indicators were determined, and the current and target values of the business process cost and KPI were calculated.
The third stage consisted in piloting and implementing targeted business processes, including replication, development of regulatory documents, restructuring and personnel training.