Process Optimisation

Definition of process optimisation

Process optimisation is a systematic approach to improving existing processes. Typical 4 central steps:

  1. Identification and documentation
  2. Process analysis
  3. Process redesign
  4. Process implication

Process optimisation in 4 steps

Anyone who accidentally discovers an error in one of their business processes and fixes it, is not yet optimising the process. The solution requires a systematic, methodical approach. But what can such an approach look like? Process optimisation can be implemented in 4 steps, all of which serve to derive an improved target process from an as-is analysis.

Advantages of process optimisation

Efficient process management in insurance and financial institutions is the key to improved competitiveness. Not just implementation and introduction of business processes but with continual enhancement, optimisation brings countless advantages. The most important are:

  • Reduction of costs and resources:

e.g. Reducing water/electricity consumption

  • Improvement of process quality:

e.g. Planning accuracy & risk avoidance

  • Increase in process speed:

e.g. Reduction of processing time

  • Increase in employee satisfaction:

e.g. Via better working conditions

  • Increasing customer satisfaction:

e.g. Enhanced customer service

Four steps to successful optimisation

1.

Identify processes

Before optimisation comes the identification and documentation of the processes. Using a process organisation or an organisational chart, a process map can be created that shows all processes and dependencies. This creates an overview of all processes in the financial company or insurance company. This should be approached carefully as it represents the starting point for further process collection, analysis and optimisation.

2.

Analyse processes

After you have identified the processes, you should analyse them. This involves identifying weak points, bottlenecks and understanding how the processes work. Process metrics should be defined here in order to measure and compare the performance of processes. Examples of process metrics are:

  • Lead time
  • Error rate
  • Productivity

3.

Redesign processes

Once weak points and bottlenecks are identified, they can be optimised. There are different approaches for this. Three of them include:

  • Streamlining processes and eliminating waste
  • Reducing errors and fluctuations through continuous improvement
  • Radical redesign of deadlocked processes

Radical redesign of deadlocked processes

4.

Implement processes

After you have optimised the processes, you should ensure that the improvements are implemented. During implementation, it is important to define clear responsibilities and process descriptions. In addition, regular controls and reviews should take place so that the processes continue to run efficiently.

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