Often, Business Processes look great in the boardroom but the field performance of the same is an issue. A key issue is that the same functional areas or third-party agencies that create or implement these processes are responsible for evaluating the performance. Think of a Digital Marketing Agency that is tasked with running a campaign for thousands of dollars to evaluate and report the campaign effectiveness – it’s like an examinee asked to evaluate his own paper! Abuse of business processes is also linked to risk management, business process efficiency management, and frauds.
Facts 'n' Data executed multiple projects – using a combination of Advanced Analytics, Artificial Intelligence and Marketing Research – to get the real insights and have implemented real-time reporting systems to run audit and optimise the business processes. Examples include identification of warranty fraud for an automobile company, poor adoption of banking app (due to process issues), Customer data leakage due to process abuse for an automobile company, near-real time flagging of insider trading, to name a few.
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