The Stone Coast Story – Digital Transformation Webinar Series
Right now digital leaders are using Centers of Excellence (CoEs) to speed up digital change in the enterprise. According to Gartner, “Centers of excellence accelerate the uptake of new technologies and optimize core capabilities with higher efficiency and lower costs.”
In this interactive session you’ll hear the story of hedge fund administration and consulting firm Stone Coast, currently building their CoE team to provide digital leadership, best practices and training in order to embed a culture of process digitization.
View this presentation to explore:
•When a CoE is the right strategy for accelerating progress
•Four practical steps in building your Center of Excellence
•Why Stone Coast Fund Services chose to build its CoE
•Your questions about how to create your own CoE
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Bizagi and Stone Coast Fund Services: How Centers of Excellence Speed Up Digital Process Automation
1. How Centers of
Excellence Speed Up
Digital Process
Automation
Digital Transformation Series
Featuring Stone Coast Fund Services
2. Today’s speakers
2
TODAY’S HOST MAIN SPEAKER
John Webster – CMO, Bizagi Derek Marshall – PMO Manager,
Stone Coast Fund Services
SUBJECT EXPERT
Ana de Miguel Gazquez -
Customer Success Manager, Bizagi
5. What is a Center of Excellence?
for Process Automation
A shared unit responsible for the strategy and consistent
delivery of digital process automation across the enterprise
6. to accelerate the delivery of structured change across the enterprise
Why build a Center of Excellence?
7. “Centers of excellence
accelerate the uptake of new
technologies and optimize
core capabilities with higher
efficiency and lower costs.”
Gartner
Create a culture of
continuous digital
improvement
Goal
8. “Of the companies stating that process
automation significantly exceeded their
goals, 67% had a CoE”
Forrester Research
9. When operating at a high level of process maturity
Running complex operations across many business units
When you need more than a process factory – what’s your strategy?
But when is a CoE for process
automation the right strategy?
10. 1. Prepare the foundation for success
2. Create the perfect CoE team
3. Build your process automation capabilities
4. Work with the right tools
Four steps for building a CoE
11. Prepare the foundation for success
What is your overarching business strategy?
Transform, don’t settle for change
Create a dedicated COE team
Build a foundation of knowledge
Motivate and incentivize the team
12. Create the perfect COE team
Key roles:
Executive Sponsor
Project Manager
Business Relationship Managers
Central Design Team
Quality Assurance
Support
13. Build your process automation capabilities
Choose the right first process
Establish a robust feedback workflow
Learn rapid / agile development methodologies
14. Work with the right tools
Select a proven platform that is easy to use
Focus on business user enablement
Concentrate on standardization
Must scale across the enterprise
Implementation methodology
15. Want to learn more?
www.bizagi.com
Whitepaper:
Building a Digital
Process Center of
Excellence
16. Poll Question 2
Which element is the hardest part of establishing a CoE
A: Strategy – establishing a strategy that can be translated into practical steps
B: People – getting the right team and executive sponsorship in place
C: Process – to adopt a process-centric view for managing the business
D: Technology – creating process agility in your current IT landscape
17. How Centers of
Excellence Speed Up
Digital Process
Automation
Digital Transformation Series
Featuring Stone Coast Fund Services
19. About Me
Derek Marshall – PMO Manager
Derek is a Group Manager at Stone Coast and leads the project
management team. He brings over 20 years of IT and project
management experience leading and delivering large scale,
enterprise projects. Before joining Stone Coast in 2015, Derek held
senior IT and project management positions at companies such
as Thomson Reuters, Nike, Unum and IDEXX.
21. Document our business rules
Digitize financial processes
Create a Center of Excellence
Bizagi Operational Services & Support a.k.a B.O.S.S.
Actions
22. Why Bizagi
• Try before you buy
• Wealth of documentation
• Ease-of-use
• Platform scalability
• Expectation of success
23. Our Implementation
• Selected Bizagi Partner InnoVelocity
• Prioritized training
• Self-service tutorials
• Learn agile by doing
24. • Getting IT and business in the same room
• Process model becomes the application (6 weeks total)
• Enables conversations around data and integrations
• Increases the visibility of that data in external systems
• Low risk of project failure
Facilitating collaboration
25. We digitized our complex cash
transfer process in just six weeks
26. Why we created our CoE
1. Do the right things – selecting the right projects
2. Do things correctly – following best practices
3. Provide the training and support people need
27. What our CoE looks like
We split our team into three key roles:
Planning – Strategic Lead
Building – Product Manager
Running – Operations (Support etc.)
28. My Recommendations
Pick an expert implementation partner
Start small and prioritise team training
Use a platform that helps you to learn
Learn agile methodologies by practicing them
Digitize financial processes for competitive advantage
Standardize operations to reduce complexity
Create robust processes to ensure regulatory compliance
Increase visibility of the organization’s data to discover important insights
Establish a culture of continuous digital improvement
Creating skills needed for your CoE
The key thing here is what this session is all about.
It’s the fact that the right platform facilitates collaboration between two parts of the business that often struggle to work together effectively.
And it’s a way of allowing business units to fully understand, brief and manage their digital needs…
While ensuring that IT retain the control they need to protect the business from spiralling costs and security issues.
Result for us:
Fast turn around of first project – just 6 weeks from design to up and running
Quick results essential for gaining support across the business
Follow up iteration
Working in this way meant we had an extremely low risk of project failure
For us the Center of Excellence was an obvious step in making sure that we were:
Select the right projects to do next, based on where we will see the most value in line with our business strategy
Define best practice and procedures around the process of digitizing our operations
Provide training and support to business units as they become involved in a digitization project
For us the Center of Excellence was an obvious step in making sure that we were:
Select the right projects to do next, based on where we will see the most value in line with our business strategy
Define best practice and procedures around the process of digitizing our operations
Provide training and support to business units as they become involved in a digitization project