This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
It’s difficult sometimes to carve out the required time and thought process to establish the path to excellence, especially when you are focused on supporting the demands expected from others of procurement in a complex organization—every single day, that is.
This transformation entails replacing manual, paper-based workflows with digital systems that use technologies like Robotic Process Automation (RPA) for routine tasks. This might include streamlining payroll processes, digitizing HR operations or automating invoicing procedures.
For example, AI-driven data mining can identify clients with a financial planning need and begin to build out the financial plan, decreasing advisor administrative time. Cutting costs In addition to boosting revenue, AI can also contribute to cost-cutting measures within financial advisory practices.
According to Vin Kumar, Managing Partner and Digital OperationsAdvisory Practice Leader at The Hackett Group, “Overall, three strong themes this year have been comprehensive automation of end-to-end processes, acceleration of digital transformation, and a greater focus on business enablement.
For instance, JP Morgan Chase plans to roll out a neo-bank this year, code-named ‘Dynamo’. Artificial intelligence and technological advancements will render better management of banking services executed at lower operationalcosts. A millennial-geared service headquartered in London, it has already created 400 jobs in the UK.
The pressing need to grow and expand soon eclipses any immediate cost relief. The task of rebuilding what you’ve lost can be daunting. It’s time we considered an alternative approach: a more comprehensive cost optimization strategy. Send Thank you for reaching out. We will get back to you. Please try again.
Payments enterprisesfrom issuing and acquiring banks to PayTechs and card networksare increasingly looking to BPS providers as strategic partners to help them navigate complexity, tame operationalcosts, and power new revenue streams. Reach out to discuss this topic in depth.
We organize all of the trending information in your field so you don't have to. Join 19,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content