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Oh, hello there! I seem to be a bit lost. This hike started out well, but the forest has gotten so thick – I can’t even see the trail. And I think I heard a bear.
What I wouldn’t give for a GPS unit right now. Real-time data is exactly what I need.
Your business is no different. Real-time data can provide you with visibility into core business processes helping you make smart decisions and to respond quickly to change.
For this demo, I’ll play the part of a Loan Officer at JK Lending. We specialize in mortgages and home equity loans.
JK recently redesigned two core processes -- mortgage applications and loan approval for home equity loans. Both require active monitoring to ensure a streamlined process and high customer satisfaction.
Today’s mortgage market is going through ups and downs, and we need end-to-end process visibility to optimize our processes and react quickly when things change. WebSphere Business Monitor from IBM provides us with the insight and visibility we need to be agile.
Let’s take a look at the WebSphere Business Monitor dashboard. Now this dashboard is customized for the Key Performance Indicators and Service Level Agreements that I need to keep my eye on. I’m able to personalize what I see on my dashboard myself rather than involving the IT department.
As we fine tune our new processes, I’ve been adding new KPIs and assembling my own dashboards using the simple drag-and-drop Palette. My boss has a completely different dashboard to see how well I’m doing – so I should get back to work.
And right on time, too. I just got an automated alert to let me know that certain loans have not been approved within 24 hours of the loan package submission. Looking at my dashboard, it appears we’re taking too long to approve loans.
I’d better drill down to learn more.
From the analysis I can see that Robert is my best performing underwriter, so I’m going to re-assign some of these loans approval delays for him to investigate. I can use WebSphere Business Monitor to create an event trigger to automate these kinds of workload escalations in the future.
It’s easy to configure my dashboard to always keep track of my team’s workload and duties, helping me keep everything balanced and avoid a backlog situation.
We’ve also used the WebSphere Business Monitor to boost profitability. The home equity loan applications from our website enter directly into our automated credit evaluation process. A quick analysis showed that customers with great credit scores have the biggest up-sell potential. So, we created an event trigger to alert one of JK’s Relationship Managers whenever these customers submit a loan application. This extra focus has enabled us to sell our additional products to over 25% of these creditworthy customers, leading to increased revenue.
Subscribing to the business alerts most relevant to me keeps me informed of the latest status. I can receive an alert on the dashboard, or a message by email, cell phone and pager, letting me stay on top of my business anywhere, anytime.
Both processes have benefited from data we collected using WebSphere Business Monitor. Our BPM process expert exported the actual process performance data directly from the WebSphere Business Monitor dashboard into our business modeling tool, WebSphere Business Modeler, for more accurate analysis and simulations of core business processes. As a result, our process models and simulations have dramatically improved, and we have realized major cost savings. And of course I’ll be able to update any new metrics in my dashboard without ever involving IT.
WebSphere Business Monitor can provide these benefits to all industries, not just the Financial Sector. And best of all, IBM offers monitoring templates and sample KPI’s for several industries out of the box, helping jumpstart effective monitoring efforts in any business.
Here’s another alert. Looks like Robert handled those loan approvals delays I mentioned earlier, and our loans are now back on track – it’s good to be back in the green. He’s fast, but that’s how quick things move around here.
With the speed of today’s business, it’s crucial to know how fast you’re going, and what direction you’re headed.
WebSphere Business Monitor delivers the real-time insights you need to keep your business agile.
I think this is the spot. What a beautiful view!
You’ve seen the demo, now click the link to learn more.