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Hire Writer The case of Chase Manhattan Bank Scope of the project The scope of reengineering includes process improvement, process reengineering, business reengineering and transformation.
The case of Chase Manhattan Bank belongs to the process reengineering, not process improvement or quick hits. In Chase Manhattan Bank, reengineering requires not only the rethinking of the business process but a concurrent examination and redesign of the information technologies and organization that support these processes.
The Scope also includes entire business enterprise, entire delivery system, one functional process and single sub-process crossing many functions. Chase Manhattan Bank is a financial institution and its focus is on service process and financial process.
Which parts of the business were reengineered? There are six business processes be reengineered in Chase Manhattan Bank.
Firstly, name and address change process reengineering, the team improved a redesigned process model to eliminate duplication and improve the efficiency of this work.
Secondly, the branch cash management process has been reengineered. The team improved cash tracking models to predict the cash levels.
Thirdly, retail funds transfer process reengineering, when recurring funds transfer requests occur, the customers can get the real-time processing instead of manual intervention in back-office areas.
Fourthly, Chase had the reengineering of account holds and levies. Chase also reengineered E-funds disbursement card and service charge processes. These efforts resulted in new products and services in addition to dramatic increases in revenue and operating savings.
Tools Process mapping Tool Business process mapping refers to activities involved in defining exactly what a business process does, who is responsible, to what standard a process should be completed and how the success of a business process can be determined.
It is a workflow diagram to bring forth a clearer understanding of a process or series of parallel processes. In chase, when it is in the second phase, focus, it used the process mapping tool to assess the process, organization, financial and information technology.
The process mapping gathers the financial and production data, collects the costing information based on activities, performs the automated simulations. In additional, it also includes the organization mapping.
Organization Mapping provides senior executives with a cross-functional picture of their organization and the provider-customer relationships within and between the organization and its customers. From the organization mapping, it reflects the spans of control, productivity among others, staff skills and training, relationship between organization and its customer and so on.
Chase Manhattan Bank can identify high-level process improvement opportunities and further can eliminate double handling, reduce cycle time, eliminate the errors, eliminate the reviews, optimize supplier relationship and so on.
The banks have also explored the opportunities provided by information technology IT to automate and improve its service customer satisfaction, e-banking, ATMs, integrate branch network etc. Organization Sub-system and organization structure It helps to think of organization as a system.
Simply put, a system is an organized collection of parts that are highly integrated in order to accomplish an overall goal.
Each organization has numerous sub-systems. Each of these subsystems has a way of doing things to, along with other sub-systems and achieves the overall goals of the organization.
Sub-systems are organized in a hierarchy needed and have many functional levels. Organization structure reveals vertical operational responsibilities, and horizontal linkages, and may be represented by an organization chart.
The relationship between various levels can be mapped across functions.
Chase Manhattan Bank drew the sub-systems mapping in traditional functional organization. From the map, it can be seen the organization has major sub-systems, such as departments, programs, divisions, and business units, etc.
This old model divided a task into a lot of individual tasks and lack of teamwork and coordination. Therefore, in a reengineering initiative, newly reengineered process is need.Customer engagement in the digital era requires a new, expanded ° view that unifies insurers’ front and back office operations.
Achieving this ultimate ° experience delivers profound improvements in customer relationship management, the experience of customers, and the value that an insurance company can deliver.
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The case of Chase Manhattan Bank Scope of the project The scope of reengineering includes process improvement, process reengineering, business reengineering and transformation. "The conference continues to provide a comfortable and effective platform where we can learn new things, be reminded and refreshed in things we already knew and feel part of a data community which has similar challenges to ourselves. The workforce is changing as businesses become global and technology erodes geographical and physical srmvision.com organizations are critical to enabling this transition and can utilize next-generation tools and strategies to provide world-class support regardless of location, platform or device.
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