Business Process Transformation (BPT) is all about reengineering the existing business processes and aligning them with the overall business objective of the organization. This article talks about BPT at Syndicate Bank that was implemented by i-Flex which has a specific business process methodology that has metrics for improvement. The Bank was able to cut down on costs significantly as well as increase efficiency because of BPT. However, the true benefits of BPT can only be realized with proper implementation.

When Syndicate Bank went in for a Centralized Banking System (CBS) in 2001, it knew that the role out of the system would have to be accompanied by Business Process Reengineering (BPR). The coupling of BPR and IT transformation has helped the Bank save crores of rupees while launching an array of products. The objective was well-defined. "We were looking for a solution to improve the productivity of the Bank and its customers. It was never about an IT process", said B S Murthy, General Manager, Deptartment of Information Technology, Syndicate Bank.

When a Central Bank in Europe felt the need to migrate to a new software product for its back office the objective was clear. It defined the objective for BPR as "Rationalize existing processes through a change in the way things are done and achieve significant improvement in output with the aid of the new system." In both the above cases the objective was to improve business productivity by way of transforming its existing business processes. Business Process Transformation (BPT) aims to improve the efficiency of business operations by removing duplicate or unnecessary steps and automating as many processes as possible. It involves a thorough understanding as well as a radical rethinking of existing business processes and how they can be aligned with the overall organizational strategy. The first step in process alignment requires an operating model to be built that optimizes every process. Being competitive in financial services in the 21st century requires a strong focus on cost management and the ability to minimize costs of every business processes.

Business Process Transformation, BPT, Business process methodology, Centralized Banking System, CBS, Business Process Reengineering, BPR, IT transformations, Financial services industries, Global companies, Public Sector Banks, Management Information System,MIS, Real-Time Gross Settlement Services, RTGS.