Business Process Management (BPM) improvement has understandably risen up the strategic agenda both of regulators and senior management over the past few years. Poor workflows or ineffective business processes not only add to operational cost but can introduce unnecessary risk and frustrate revenue generation.
As the range of instruments, markets and service propositions have all increased in both number and complexity, some banks have not updated their processes, procedures or IT architecture at the rate needed to keep pace with their ever evolving business models.
Too often these omissions result in an overreliance on manual or piecemeal fixes, which when stacked up over time blunt any inherent efficiencies or dull process effectiveness in key areas of accounting, audit, compliance, customer services and management information reporting.
paragon’s Automation Scheduler was built specifically to enable all paragon modules to initiate their key transaction and reporting processes in the correct order and the right time. Our scheduler works to automate key workflows or processes within paragon as well as across other third party systems or data feeds to achieve maximum efficiency.
Important benefits are delivered immediately:
- Avoidance of manual input errors brings confidence that data is accurate across all related systems, enabling better decision making at all levels
- Automation and monitoring of multiple/repetitious routine tasks reduces cost and improves control;
- A real time status monitor keeps operations team and management informed at all times
- Sophisticated exceptions management ensure your processing team will always be working on the tasks that matter – only those where manual intervention is required
- Extended working periods as unattended processes can run during off hours.
Read more about how paragon’s specialist modules have been developed to support specific trade services as fixed income service offerings, instruments and regulatory requirement have all evolved.