Your organization has an unstoppable digital transformation plan—at least that’s what you thought before you started encountering the disadvantages of data silos. Your teams were fired up and ready to go, but data separated by different systems created obstacle after obstacle to your digital transformation dreams.
The insurance industry is quickly moving into a digital-first future where emerging technologies will reshape the way policies are sold, claims are processed, and risks are managed, and where market leaders are automating critical workflows to deliver seamless experiences, enhance customer satisfaction, and unlock profitability.
If you’re worried about the potential for heightened regulatory scrutiny in financial services, you’re not alone. Business operations teams everywhere are focused on the end-to-end, client lifecycle management (CLM) process as they cope with ever-changing regulations governing how, when, and where client data can be stored and accessed. It’s hard to stay compliant when customer data is spread across multiple operational silos.
Large-scale enterprise modernization initiatives are taking place across the public sector, with agencies striving to gain efficiencies through better use of more modern technologies, such as low-code platforms, and employing data in novel ways in the decision-making process. These modernization efforts disrupt the business processes that have developed around the outdated solutions these efforts aim to replace.
Process efficiency might not be flashy, but its impact is substantial. Improving process efficiency—from developing new applications faster to automating manual tasks—can amount to millions in savings. According to a Total Economic Impact™ (TEI) study, conducted by Forrester Consulting and commissioned by Appian, a composite organization comprised of interviewees with experience using Appian realized: How exactly are customers realizing these benefits?
In January 1983 the computing world changed forever: Lotus 1-2-3 was released. This early spreadsheet program for IBM PCs ushered in the modern business computing environment by providing business users with a way to take ownership of their own solutions. Instead of relying on the IT department, users could use 1-2-3 to build applications by themselves, ushering in the era of end-user computing (EUC). Fast forward to today, and end-user computing is as popular as ever.
We recently sat down with several supply chain experts to identify the trends impacting global supply chains and what to expect going forward. KPMG Partner Peter Liddell weighed in on everything from the continuous disruption caused by materials shortages and geopolitical conflict to best practices for adapting to these challenges.
Ancient Greek mathematician Archimedes once said, “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” He was right. When you intelligently use the right tools, you can move worlds and accomplish what on the surface seems impossible. Right now, developers are doing the impossible—building applications in record time that truly transform industries, improve business processes, and unlock radical productivity.
Leaders are taking a closer look at bank stress testing in the wake of recent bank failures. The significant impact of these collapses on the financial system, along with the government's extensive measures to prevent additional bank failures, is increasing the sense of urgency around enhanced regulatory supervision.
The first quarter of 2023 was quite a rollercoaster ride for the banking industry, marked by not one but two of the largest bank failures in U.S. history. As a result, regional banks took a hit as well, losing nearly $200 billion in deposits in just one week, according to the Federal Reserve. Because regional and smaller banks in the U.S. make up over a third of total bank lending, any pullback in credit provisioning could undermine financial stability and growth. The bottom line?
