Reinsurance is a complicated industry and it's only getting more complex. Reinsurers provide insurance for other insurance companies to keep those companies' risks to a minimum and according to a recent report from Deloitte, their industry is facing a problem. They're putting together increasingly customized, individually-negotiated contracts for clients, incorporating data from several disparate sources — business partners, administrative systems, internal documents and reinsurance terms — and they're doing it manually.
Business Process Management
Over-complicated workflows. Redundant information. Gigantic, terrifying, business processes! It can all be so scary. The latest episode of Omni's series, All Things BPM with Aaron and Mike: A Vlog Dedicated to Business Process Management, celebrates Halloween by getting spoooooooky with BPM. Solution Consultant Aaron Carmody and Project Manager Michael Matter spend this episode talking about some of the biggest fears organizations have when it comes to Business Process Management (BPM). So, grab some popcorn, sit back and get ready to confront your BPM fears.
You've invested a lot in your technology but it's not working out the way you were hoping. The software or infrastructure you were sold was supposed to solve all your business's problems — things were supposed to get easier for you and your employees. But what seemed like a good idea when you were making that purchase, has turned into a hassle and now you are seriously considering kicking your IT to the curb and starting over. Hold on right there because we have good news and bad news.
Being in charge of IT for a healthcare organization isn't easy. You're responsible for vast amounts of some of the most sensitive information that an organization can deal in; medical data. You're also dealing with financial information, insurance, securing your organization's Internet of Things (IoT) and other information that requires you to be up on compliance for laws like HIPAA and GDPR. You have to stay within your budget, keep everything updated and make sure all of your organization's tech works. It's a lot, especially for smaller healthcare providers who don't have the budget to constantly update software, maintain a server, hire a large IT staff or — in some cases — keep a compliance officer.
You've been at your job for a while, and, on paper, it looks great: your job pays well, the benefits are good and you've negotiated a flexible schedule. All of these things are great and you're grateful for them but there's a problem: you're bored. Maybe you've been doing the work long enough that it's not fulfilling. Maybe you've risen as far as you can at this job. So what do you do when you don't want to leave your benefits but your boredom makes you dread going to work? First of all, take heart because you're not alone. According to Gallup's State of the American Workplace report, of the 100 million workers in the US workforce, 67 percent are disengaged.
Organizations are drowning in data right now. This data is coming from all kinds of sources. It's generated by consumer surveys, sensors on smart objects, your CRM, consumer behavior on websites — every business is generating more data than ever before. In fact, according to IBM, every day, worldwide, 2.5 quintillion bytes of data is created and it's only going to increase. For example, one big data generator, the Internet of Things (IoT), is still in a period of growth. The International Data Corporation (IDC) Worldwide Semiannual Internet of Things Spending Guide predicts that worldwide IoT spending will surpass the $1 trillion mark in 2020.
Your server is down. Your organization needs custom software. Your company needs to buy and install new software. But information technology isn't your thing, so you've brought in a technology consultant.
If you've used a computer any time in the last 30 years, you're familiar with Microsoft Office and its iconic tetrad of applications: Word, Excel, PowerPoint and Outlook. You buy them and they live on your computer forever. Or, back in the day, you'd buy a computer and Office would come as part of the package. That was a different time. Today we're living an era of cloud computing and remote work, and Microsoft adapted to that, releasing Microsoft Office 365 in 2011.
Business Process Management
Don't know what Business Process Management (BPM) is? Know what it is, but don't know if you need it? Need to understand more about what it is and how it can help with your business challenges?