Business Process Management Vendor Evaluations
| San Francisco, CA, USA February 27, 2004|
Reports Published by Celent
Celent projects that insurers will spend US$350 million on new business process management (BPM) projects in 2004.
Business process management (BPM) has moved towards the center of the insurance technology stage. Vendors謡ho twelve months ago were happily embedded in categories like enterprise application integration (EAI), workflow, document or content management, CRM, or business intelligence預re repositioning and/or redesigning their offerings. Celent痴 latest report, a follow-up to its recent strategic overview of the BPM and business rules engine (BRE) space, evaluates seven leading BPM vendors, and selects three that should be on every insurer痴 short list. The vendors evaluated in the report are FileNet, Fujitsu, IBM, Metaserver, Metastorm, Pegasystems, and Staffware.
"Business process management solutions give insurers the ability to orchestrate and monitor workflow among people and core systems," commented Donald Light, senior analyst in Celent痴 insurance group and author of the report. "They can achieve consistency and efficiency in inherently complex and geographically dispersed processes. They offer the ability to analyze history and model to optimize the future. And through a variety of ease-of-use features, they encourage business users to respond quickly to external shifts and internal constraints."
For each vendor, Celent evaluates how its BPM solution fits into its product portfolio, its compatibility and ability to integrate with various platforms, databases and legacy application; time and cost to implement; references; and a summation of value and issues. The report concludes with comparative analysis of the profiled vendors, Celent痴 picks for the vendors that should be on most insurer痴 short lists, and some concluding thoughts for insurers and vendors
The report also includes a summary of the business value which BPM can provide; the elements of a complete BPM solution; the types of technology solutions currently available; and projected spending levels. More detail on these areas is included in Celent痴 business process management strategic overview report, published in December 2003.
The 36-page report contains 16 tables and figures. A
Table of Contents is available online.
of Celent Communications' Property/Casualty Insurance and Life/Health Insurance research services can download the report electronically by clicking on the icon to the left. Non-members should contact email@example.com for more information.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].
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