STILLWATER NATIONAL BANK STREAMLINES KEY BUSINESS PROCESSES WITH PROCESS DIRECTORApril 23, 2012 No Comments
Bank Embraces BPM as it Automates Accounting and Loan Processing
San Diego, CA – April 18, 2012 – BP Logix, a developer of BPM software that accelerates time-to-value, today announced its growing success in providing banking institutions with a solution to optimize their processes. Stillwater National Bank and Trust Company (SNB) selected BP Logix Process Director to automate its loan credit and Accounting processes and automate more than 120 forms in use by employees across 28 locations. SNB turned to BPM to improve customer service, address compliance requirements and ensure a more efficient, cost-effective operation.
A subsidiary of Southwest Bancorp Inc., SNB was founded in 1894 and is headquartered in Stillwater, Oklahoma. The Bank, with assets of $2.3 billion, specializes in commercial and personal lending, deposit, investment services, specialized cash management and other financial services. In 2002, branching outside of Oklahoma began. In Texas, SNB is branded as SNB Bank of Austin, SNB Bank of Dallas, SNB Bank of San Antonio and SNB Bank of Houston. In 2007, Southwest purchased Bank of Kansas, who now boasts eight branches in Kansas.
Streamlining the loan credit process, as well as improving Accounts Payable processes, were key requests for the IT department. Laura Briscoe, SNB’s Director of Information Services, established criteria for the product she wanted to purchase. It needed to be: 1) Browser-based, 2) Provide rule-based routing, 3) Be able to handle complex logic 4) Offer a user-friendly dashboard with search and proxy capabilities and 5) Provide integration with SQL, Active Directory and SharePoint. Needing to replace an existing product that had proven to be incapable of developing useable workflow processes and electronic forms, Briscoe initiated a search. She short-listed five companies and met with three. Within 45 days her recommendation to purchase Process Director was approved by the Bank’s Oversight Committee.
“While doing a cost-benefit analysis we found that we could do everything we needed to with Process Director — including complex logic for forms, spawning, different rule sets and calculations on loan documents,” remarked Briscoe. As a result of streamlining the loan credit process, SNB will be saving man hours, time and money and will have a well-documented and audited process. “With Process Director, we will be doing what we do now – on steroids,” she added.
Process Director enables users to review historical and current data related to business processes, understand the implication of activities in running processes and to instantly implement corrective action to overcome a pending problem, if one is present. Process Director fuses traditional workflow automation with the BP Logix Process Timeline™. As a result, it enables process builders to specify dependencies and conditions, determine the planned duration of a process, and define the order for all activities within the process.
“Today’s economic conditions are fueling the need for the kind of cross-department process improvements that BPM brings to an organization. Stillwater National Bank and its affiliates are also embracing the kind of productivity improvements that are well-served with Process Director – and will result in bottom-line improvements,” concluded Jay O’Brien, CEO of BP Logix.
About BP Logix
BP Logix (http://www.bplogix.com/) is the first software company to introduce the dimension of Time into business process management. BP Logix Process Director provides the infrastructure and business intelligence that enables business users to anticipate and predict potential problems in recurring business processes. The system ‘learns’ how running processes behave, anticipates the impact of changing conditions and adjusts processes accordingly. BP Logix offers an on-premise and hosted model, providing users with the advanced capabilities they need to define, model, automate and track their business processes, resulting in greater efficiency across the organization. Customers include Abbott Labs, DuPont, IDEX, Johnson & Johnson, Leo Burnett USA, NEC Labs, NORESCO, Starwood Hotels and Resorts, the National Eye Institute and the National Institute of Mental Health. For more information, please visit http://www.bplogix.com/ or call 877-627-5871.
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