If you are interested in using modern work platforms to create a successful and flexible on-boarding system for your organization, here are key elements to consider:
• Fully automate all steps (leaving no gaps between steps or system components where manual re-entry of data is required).
• Maintain flexibility so the system can be changed as the organization discovers new opportunities for up-sell and cross-sell, new ways to streamline the process to reduce costs and improve service and learns how to incorporate new regulations that require additional data collection.
• Ensure a visual “no coding” development environment, so business process owners can work with their IT counterparts to modify and evolve the application to fit new needs and opportunities. Coding stands in the way of collaboration.
• Ensure existing legacy applications are integrated. This minimizes the need to “rip and replace” technology to accommodate older systems.
• Ensure that your on-boarding process embraces regulatory compliance. Missing compliance issues during on-boarding leads to rework, increased costs, new client frustration and the risk of fines and penalties.
• Ensure that desktops, smart phones and tablets have a single interface to support an increasingly mobile workforce.
Financial services institutions that want to gain competitive advantage need to create on-boarding systems that support process excellence. The technology approaches of past years have led to IT systems that can’t keep pace with the needs of the business, exposing weaknesses to new clients just at the moment when you most need to impress them—those crucial first 90 days.
Evan McDonnell leads the industry practices group for Appian. He can be reached at [email protected]