Business Process Reengineering – Straight-through Processing (STP)
Organizations frequently struggle to align technology and operations, often hindering the success of transformation initiatives. However, there are a few proven frameworks that can facilitate the integration of technology modernization and process optimization with the primary focus on improving straight-through processing (STP) capabilities. By bridging the gap between technology and operations, they offer a solution to streamlining business processes. These frameworks can empower companies to improve their STP, adapt to the evolving business landscape, and gain a competitive edge.
The ultimate benefit of using these frameworks is that stakeholders from BizOps and IT, including leaders, managers, architects, product owners, and process specialists use the same semantics of processes and capabilities. They share a common definition of STP, align on the factors that drive improvement, prioritize investments, and measure progress as well as the benefits of IT investments through simple, yet well-defined, metrics.
There is a need for close partnership and a unified approach between IT and BizOps to driven meaningful organizational change. Long-term strategies using effective frameworks and guidelines aimed at interleaving technology modernization and process optimization can elevate an organization’s STP. Infosys STP-Up©, SIPOC-for-STP©, STP-Up-Factor©, and ACE© offer practical solutions to minimize manual interventions, enhance technology adoption, and streamline processes. By embracing Infosys’ frameworks, organizations can position themselves to thrive in today's competitive business environment, delivering improved STP and reduced costs.
Business Process Reengineering – STP: Are we there yet?