Executive Summary / Abstract
Lincoln Trust Company constituted a BPM program in 2007 with the initial goals focused on operational efficiency and going paperless in our back office processes. The overall program has been widely acknowledged for its tremendous success and directly contributed to Lincoln Trust Company’s survival in the face of the global financial crisis. This paper discusses the continuation of the program and specifically describes our experiences implementing one of our most evolved BPM processes to date.
Over the past year Lincoln Trust Company has faced a new, better, and very significant challenge- growth! One of Lincoln Trust Company’s most strategic business channels has developed a partner channel that has resulted in a 100% increase in sales from last year and is anticipating 1000% increases in new plan establishment. Thrilled with the prospects, but concerned with the impact to new customers, staff, and budget, Lincoln Trust Company executive management decided to leverage our BPM competencies to achieve a vision to provide “white glove” treatment to our new customers, automate the process, and significantly reduce the need for additional staffing within the business unit. The new business process is not only allowing us to efficiently establish significant new business, it is also seen as a sales differentiator helping our sales staff win new business. For the first time, IT is being invited by the business on sales presentations to partner in the discussion of superior process and technology for our customers.