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Due to business pressures and increased competition, corporations are forced to reduce costs through self service or automation.
This is not always possible because a number of business processes are complex, requiring a number of human touch points. Each human touch point
introduces process latency, increases cost of processing and impacts the bottom line. Some amount of automation has been introduced by SOA and web
initiatives but these are not sufficient to enable Straight through processing, which requires that the end-to-end business process happens in a single
user session. This is because many of the business processes that requires decision making such as loan approval, underwriting, claims processing are
still done manually. With the advent of fast computers and non-traditional computational models such as rule based systems and predictive modeling, it
has become possible to automate decision making STP possible.
Jarus has enabled STP for complex business processes in many industries reducing the process times from days to minutes. Complemented by its
Automation framework ,
Jarus is able to codify knowledge as flexible business rules that make automated decision making a reality. Enabling STP makes the
software make routine decisions reducing the workload for experts and let them concentrate on more complex business issues.
Case Studies
Enabling STP for Commercial Insurance Underwriting
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