Remove technology data-security
article thumbnail

Hackett Research: Inflation, Geopolitical Unrest, Other Factors Drive Up Operational Costs of Finance for the First Time in Decades

The Hackett Group

Miami, FL — July 13, 2023 — For the first time in decades, most finance organizations experienced a significant increase in operating costs in 2023, driven by inflationary pressures, geopolitical unrest and other uncertainty factors, according to new research from The Hackett Group , Inc. NASDAQ: HCKT).

article thumbnail

How Platform Modernization Can Boost Claims Processing Speed by 95%

3Pillar Global

Growing revenue and reducing costs remains a top priority for healthcare organizations in 2024. As such, revenue cycle optimization, streamlining payment, and reducing billing and coding errors are critical areas of focus. Platform modernization presents a solution. Compliance risks. Revenue leakage.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

History of BPO: Past, Present and The Future

Offshore India Data Entry

The Business Process Outsourcing (BPO) industry has undergone significant transformations since its inception, revolutionizing the way businesses operate. This was a time when companies first began exploring the idea of outsourcing data processing and back-office operations to external providers. from 2020 to 2028.

BPO 52
article thumbnail

The Future of Blockchain in Banking and Financial Services and FinTechs | Blog

Everest Group

Blockchain technology promises to transform banking, financial services, and FinTechs by enhancing the digital customer experience while lowering costs and reducing data risks in a secure environment. Blockchain is a distributed ledger that records transactions in an immutable, cryptographically secure way.

Banking 98
article thumbnail

Revolutionizing Risk: Exploring Actuarial Outsourcing in Insurance | Blog

Everest Group

Outsourcing is a growing trend in the insurance industry to transform the actuarial function by reducing costs, creating innovation, increasing efficiencies, and filling the talent demand. This transformation involves reimagining the role of actuaries in the organization and adopting new technologies and methodologies.

article thumbnail

Business process reengineering (BPR) examples

IBM Services

Background of business process reengineering BPR emerged in the early 1990s as a management approach aimed at radically redesigning business operations to achieve business transformation. This might include streamlining payroll processes, digitizing HR operations or automating invoicing procedures.

article thumbnail

What Is Business Process Management (BPM)?

Metasource

” This includes identifying process bottlenecks, automating manual tasks, and streamlining workflows for maximum productivity. Increased Efficiency : Business process management services help identify and eliminate inefficiencies within workflows by reducing manual, time-consuming tasks. According to a McKinsey & Co.