How This Global Bank is Maximizing Their Knowledge Workers’ Value with Flowable

Despite advances in automation technology, many businesses continue to rely on manual processes for essential tasks. A 2022 study by Forrester Research revealed that 60% of companies still depend heavily on manual processes for critical operations. This over-reliance on manual work can hinder operational efficiency and increase the risk of errors and inconsistencies.

Naturally, businesses across all industries are seeking precisely the contrary, and none more so than banking. They want ways to enhance productivity, streamline operations, and empower their all-important workforce—who, in the end, are the most significant investment and biggest drivers of value.

At FlowFest24, Oksana Dovorecka, a Senior Transformation Lead at a global bank, delivered a compelling presentation on how her global organization successfully leveraged technology to empower knowledge workers and give them the tools they need to excel.

Overcoming old habits

We are living in a moment where innovation and adaptability are paramount. Businesses cannot afford to be held back by cumbersome processes and outdated technology; the cost is simply too high. In a frequently cited study by IDC, researchers found that something as basic as document management reduces productivity by 21.3% annually, which, in monetary terms, costs $19,732 USD per information worker per year.

Many large organizations find themselves grappling with the limitations of outdated systems and inefficient manual processes. Oksana Dovorecka highlighted a tendency humankind has turned to since the construction of the pyramids: to simply “throw people at the problem." This often leads to a lack of agility, hindered productivity, and an inability to fully leverage the potential of knowledge workers. Meanwhile, there is a reticence to leave outdated applications in the past; for example, companies may turn to the Microsoft Office Suite simply because they won’t have to invest in training. However, as the cited data suggests, this is an increasingly false economy.

Instead, companies shouldn’t fall back on old faithfuls like Excel and embrace new approaches and tools, such as Flowable. With an open mind, organizations can break free from these constraints and empower their workforce to achieve greater efficiency and drive meaningful progress. That said, not all business processes are created equal when it comes to automation.

Identifying the right automation opportunities

Of course, automation’s promise of greater speed is tantalizing, but implementation is not something to be rushed. As Oksana Dovorecka astutely observed, "Simply automating a bad process just makes a bad process faster." To truly unlock the power of automation, organizations must first identify the truly suitable processes. She provides a framework for making these critical decisions, emphasizing three key criteria:

• Stability: The process should be well-established and predictable, not subject to frequent ad-hoc changes. A stable process ensures that the automated workflow remains relevant and effective over time.

• Clear definition: The process needs to be clearly defined and mappable, with well-defined roles, responsibilities, and decision points. If a process can be modeled using standard business process modeling notation (BPMN), it's likely suitable for automation with a tool like Flowable.

• Genuine need: The process should truly benefit from a workflow solution involving handovers, rules, and a clear journey with multiple steps. Automating a single-step process or simply digitizing a data storage problem might not yield the desired value.

This targeted approach ensures that automation efforts are focused on areas where they will have the greatest impact, maximizing efficiency and delivering tangible benefits. If an appropriate business case is identified, the team can execute the project.

A phased approach

Oksana Dovorecka's team follows a structured, phased approach to implementing low-code workflow solutions, ensuring that each stage builds upon the previous one and incorporates valuable user feedback before integrating with other systems, refining data management, and potentially incorporating advanced features like AI or machine learning into an end application. Ongoing support and maintenance are also established to ensure the long-term success of the solution.

By adhering to this phased approach and prioritizing user involvement, Oksana Dovorecka's team ensures that their workflow solutions are not only technically sound but also effectively address the needs and expectations of their end-users. As she said, buy-in is a huge factor; you don’t want to create an application you have to beg people to use, but something they’re enthusiastic about.

Building in-house expertise and a collaborative culture

However, getting to this stage was a journey; after all, the reason that the use of manual tools like the Microsoft Suite persists is familiarity. Indeed, as Oksana Dovorecka remarked, it would be lovely to wake up and have a magically up-skilled team of Flowable modelers. In the real world, the bank needed to invest in some training. Thankfully, the decision-makers recognized the value of self-sufficiency, which has been the foundation of long-term success.

To build in-house expertise in Flowable, Oksana Dovorecka’s team began by incorporating Flowable modelers and developers directly into their agile teams. This fostered close collaboration and knowledge transfer, allowing the team to gain a deep understanding of the platform and its capabilities through hands-on training. Over time, they expanded their team, recruiting and training modelers and developers internally. This internal expertise enabled them to take full ownership of their workflow solutions, from design and implementation to maintenance and support.

To further foster collaboration and knowledge sharing, they established a "Flowable Guild" – an informal community of practice where practitioners across different business units and geographies could connect, share their experiences, and learn from each other. This collaborative culture not only promoted best practices but also helped to feed creativity and experimentation. And, with a positive network of Flowable ambassadors, they could accelerate the adoption and successful implementation of Flowable solutions across the organization.

Now, equipped with internal knowledge, rigorous business case analysis, and agile development processes, the organization is driving positive change across various areas:

• Improved compliance: Automated workflows provide a clear and auditable record of every step in a process, ensuring compliance with internal policies and regulatory requirements. This not only reduces the risk of errors and inconsistencies but also simplifies audit processes and interactions with regulators.

• Enhanced data management: Workflows facilitate the structured collection and management of data, enabling better decision-making, strategic planning, and reporting. This organized data can also be used to train AI models and drive further insights.

• Empowerment of knowledge workers: By automating routine tasks and streamlining processes, knowledge workers are freed from tedious administrative burdens. This allows them to dedicate more time to their core responsibilities, such as problem-solving, innovation, and strategic thinking.

These outcomes are crucial in the financial services environment. As Oksana Dovorecka remarks, complexity is always going up and never down; the cost of compliance, for instance, is always rising. Never once in her professional career has she seen a regulation withdrawn, only more added. In this scenario, the workflows are indispensable; there is a clear paper trail for regulators and high-quality, clean data. Meanwhile, knowledge workers are free to focus on things other than filing.

Always improving

In the spirit of continuous improvement, we can always do better. Oksana's presentation at FlowFest24 shows how, by prioritizing user involvement and fostering a culture of collaboration, you can significantly improve efficiency, compliance, and knowledge worker empowerment. As a result, the bank is making the most out of its most crucial investment: its people. To summarize the key takeaways:

• Don't just automate for the sake of automating. Choose processes that will truly benefit from a workflow solution.

• Start with a proof of concept. This will help you get buy-in from stakeholders and identify any potential issues early on.

• Get your end-users involved early and often. Their feedback is essential for ensuring that your solution meets their needs.

• Build up your in-house expertise. This will allow you to take ownership of your workflow solutions and make changes and updates as needed.

• Don't be afraid to experiment. There are many different ways to use low-code workflow solutions. Find what works best for your organization.

Do you want to know how Flowable helps organizations worldwide to improve processes and overcome data silos? Check out our success stories or contact us to discuss your specific use case.