The financial services industry is increasingly competitive, with new startups and technologies ceaselessly disrupting long established business models. Financial companies are adding new products and business lines while maintaining existing businesses and related technologies. This has increased complexity of business operations significantly. Not only do companies have to change and adapt quickly to the digital customer but they must change and integrate business processes internally to keep the lights on.
Adding to this complexity is an increasingly stringent regulatory environment. New processes, reporting and related technology must be established and integrated with day-to-day operations. The risk of noncompliance is high – fines or worse, being shut down. These operations can be very complex. Often, it’s hard to know when, where, and why they go wrong. Unfortunately, monitoring these processes is very difficult. Even if Business Process Management (BPM) tools are in place, they are usually not integrated across the organization and most report issues after the fact, leaving financial companies at risk from a business and compliance perspective.
In order to combat these risks and improve efficiency, financial services institutions need a way to efficiently monitor processes in real time. DRYiCE iControl (iControl) was specifically designed to provide companies with an end-to-end view of business process so they know when things are going wrong, when they happen and can identify where in the flow, the issue occurred. By creating meaningful views for both business and IT operations, iControl helps companies respond quickly and effectively to issues as they occur. iControl provides companies with the next generation of business flow intelligence.