Compliance

Using decision management to prepare for an unknown future

November 18, 2008

Recently, Ronan Bradley discussed the challenges for banks in the area of compliance, given the rapidly changing environment. He made three specific points with which I agree and that I think shows the value of a decision management approach for banks and others facing an unknown but difficult regulatory environment in the next year or [...]

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On the importance of holistic decision making

November 6, 2008

I was chatting with someone the other day who shared a story of a European health insurer.   Their decision-making in claims looked only at the validity of the claim and nothing else. This of course created a situation where good (and very profitable customers) could be treated correctly but ineffectively – such as one [...]

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Integrating Predictive Analytics and BRM to Improve Health Plan Member Experience

October 30, 2008

Two gentlemen from Deloitte presented Integrating Predictive Analytics and BRM to Improve Health Plan Member Experience. 80% of healthcare costs are incurred by 20% of members and traditionally the 20% get all the focus. Analytics and data mining get applied to claims, authorization, costs as a result. Segmentation focuses on the unprofitable and unhealthy. Increasingly [...]

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Building Blocks of Decision Management

October 30, 2008

Michele Edelman of Discover presented on Building Blocks of Decision Management: “Tools to Rule”. Michele spends a lot of time educating people inside Discover and her team use sources like McKinsey to show executives why EDM matters. For instance, a report on top 10 macro-economic trends:

Centers of economic activity will shift profoundly not just globally [...]

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Live from the EDM Summit – From Here to Agility

October 28, 2008

I am at the EDM Summit this week and will be blogging live from some of the sessions and posting random thoughts and comments in addition. Despite the difficult market conditions, attendance looks good with a nice full room for the keynote and attendees from 17 countries. This year’s event also has a dozen new [...]

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Using decision management for Governance, Risk and Compliance

August 20, 2008

A reader asked me to blog about GRC – governance, risk and compliance – this week and, in particular, the difference between IT governance and true business governance or what is broadly known as GRC. I have been thinking about this and will write some more posts when I get back from vacation but, for [...]

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EDM and the role of line managers

July 14, 2008

Tammy Erickson wrote an interesting piece last week The End of Line Managers as We Know Them – Peter Drucker’s Prediction that made we wonder how applying enterprise decision management, EDM, would change the role of line managers. Several changes would seem to be likely:

Less rubber-stamping
With the automation of approvals, eligibility, refunds, pricing decisions and [...]

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The future of consumer banking needs EDM

July 11, 2008

Naumi Haque wrote this nice piece on The future of consumer banking and it struck me how many of the things she suggests, with which I agree, require a broad-based adoption of EDM.
For instance she suggests a single financial cockpit – she calls it a dashboard but she wants to be able to do things [...]

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Business Process – Linking Business and IT

June 18, 2008

Janelle Hill of Gartner kicked off day 2. Business Process Management is the current approach to being process-centric and part of a long history stretching back to Taylor/Deming, Business Process Reengineering and more. In particular it is an evolution from computerized process flow, to packaged applications as best practices and now flexible and adaptive processes. [...]

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Age of Dynamic Business Applications

May 21, 2008

Dean Hager from Lawson came on to follow-up on the dynamic business applications story. Dynamic means “continuous change, activity, or progress” and Enterprise Applications “suck at this” to use his words. But this is a problem as the world is changing – people change, events cause change, the business climate changes and more. He asked [...]

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Live from InterACT – Closing Keynote

April 30, 2008

Ted Iacobuzio of TowerGroup gave the closing keynote, expanding on the survey results Fair Isaac announced today. More than 100 of the InterACT attendees took the survey – clearly this is top of mind. Some highlights:

Lenders appreciate the need for integrated customer information and multi-product decisioning
Lenders are not all at the same speed in implementation
Respondents [...]

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Live from InterACT – The Mortgage Crisis

April 29, 2008

Interesting session on the Mortgage Crisis next, subtitled “Implications for a Global Economy”. Joe Breeden of Strategic Analytics and Daniel Melo of Fair Isaac. Joe started by saying that this is the 3rd time this has happened in the last 16 years. And, as before, it’s not just about mortgage and it’s not just about [...]

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Live from InterACT – Insurance in the 21st Century

April 28, 2008

After lunch I joined the Insurance track and listened to Don Light of Celent (who wrote this nice paper some time ago) and Mike Gordon of Fair Isaac. Mike started and his first slide was headlined “survival of the fittest” which seems like the right headline! There is clearly a lot on in insurance these [...]

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Live from DAMA – What do they mean, BUSINESS Metadata?

March 18, 2008

Next up was a session from some folks at ASG talking about business metadata. They started by discussing the metadata audience and how it is changing as the syntactic and semantic richness of metadata increases. Initially there was a focus on consistent definitions for, say, COBOL copy books. Gradually expanded out to DBAs, Data Architects [...]

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Governance, Risk and Compliance (GRC) Reality Check with IDC

March 11, 2008

I dropped by the IDC Directions event today and saw two presentations. First up was Kathy Wilhide talking about Governance, Risk and Compliance or GRC as it is known. The GRC market has grown from a need for higher levels of confidence in financial and operational information. As compliance is not built into most existing [...]

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How to prioritize the use of EDM in a recession

February 8, 2008

Last post in my series today – how to prioritize your use of EDM in a recession. As with any effort to prioritize EDM, the first thing to do is identify the decisions that make the difference. This means finding the micro decisions that are often hidden in your processes as well as correctly identifying [...]

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Automating detection of insider trading, money laundering and fraud

January 29, 2008

One of the most interesting uses of enterprise decision management or EDM is in automating detection of various kinds of “bad” activity. Whether the concern du jour is insider trading, money laundering or just plain old fraud. There are a number of reasons why EDM is such a powerful approach.

Automation is fundamentally the best approach [...]

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Using EDM to manage call center (and other) costs

January 18, 2008

While the primary focus of applying EDM to customer service should not be cost containment or reduction, there is still a role for EDM in managing costs. For instance:

With 25% churn and complex IT systems, training costs are a huge problem for call centers.
By automating decisions EDM can reduce the complexity and thus cost of [...]

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More thoughts on RuleBurst and Haley

November 28, 2007

Having posted some initial thoughts on RuleBurst’s acquisition of Haley, I was lucky enough to get some time with Peter Still, VP Strategy. Peter and I spent an interesting hour discussing the merger and the combined companies plans so I thought I would share some of my thoughts.
The first interesting thing to note is that, [...]

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Live from Business Rules Forum (almost) – Agile Compliance

October 26, 2007

I am now back from the Business Rules Forum, after a long delay in Denver, and catching up on my blog posts. First session on Thursday morning was Hugh Taylor talking about Agile Compliance. It was very early and Hugh tells us that he was thrown up all over on the plane down! The room [...]

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