Boosting Efficiency with Straight Through Processing

Boosting Efficiency with Straight Through Processing

New software solutions are often launched to address a single problem in a specific operation or department. Financial software, CRM sales systems, and online permit applications are just a few tools that target distinct operations in different organization departments. But when complex services require departments to work together, a more streamlined process is needed. The idea of straight through processing facilitates a more efficient, consolidated workflow that can propel an organization to achieve and surpass its operational goals.

 

A single process that is handled individually by different departments can be more prone to inefficiencies, detriments, and duplicate information. Straight through processing (STP) is a way of looking at work across divisions and optimizing your processes. An organization’s workflow is mapped out into a journey with a beginning and an end, creating a transparent and logical plan. Streamlined workflows ultimately enable organizations to serve their customers quicker and more effectively. For example, a government institution had a permit application process that took 6-8 months to complete. Because of an unclear workflow, inefficient paper processes, and many inaccurate applications, this organization recognized the need for a more efficient and streamlined workflow. With the help of Fairfax Data Systems, this institution mapped out their operations and implemented intuitive automation solutions. As a result, their application system was condensed into a more efficient and dynamic 6-hour process.

 

Straight through processing is made possible by performing a lean business analysis, an investigation that ensures that an organization’s operations are as efficient as possible. The first step is to map and define the process or operation in question. Some organizations don’t understand their own workflow patterns thorough enough and are unable to take ownership of projects in their entirety. The second step is “trimming the fat,” getting rid of workflow inefficiencies and unnecessary resources. This reveals a variety of needs to be addressed, as well as goals that can be met by implementing automation technology. A transparent and logical workflow also provides metrics that measure an organization’s success and progress towards these goals. At Fairfax Data Systems, we can help your organization build software solutions that fulfill these requirements and create a new, efficient software solution.

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