Front Arena is one of the leading front office systems for trade capture and is accordingly widely used in the banking environment. However, there are often significant deviations from the target process, which means additional work for employees and longer processing times. This is also reflected in increased costs. In this use case, Nagler & Company shows how deviations can be identified through the use of Celonis in order to subsequently eliminate them.
Initial situation:
- A clear target process exists for recording transactions in FIS Front Arena.
- In reality, however, deviations from the target process occur.
- These deviations cause unnecessary costs - their causes are mostly unknown.
Questions:
- How many other process variations exist and how often do they occur?
- How high are the costs caused by the deviations from the target process?
- Which causes lead to a deviation from the target process?
- At which points do repetitive activities occur?
Solution:
- N&C offers a solution based on Process Mining
- Process analysis with the help of interactive Celonis dashboards
- Results and evaluations based on transaction data
To evaluate the benefits, the average cost per trade before and after using Celonis is compared.
Cost per trade = Ø lead time (in h) * cost/h
Benefits for the user
- In this example calculation, even a first analysis would lead to a saving (after costs) of more than 250,000 €. By implementing Celonis, further costs can be saved in the long run and resources can be allocated more efficiently.
- In this example, only the trading process in Front Area was evaluated. The entire trading process, including booking in the trading book and settlement process may contain further inefficiencies that can be uncovered through process analysis. Further cost savings are possible.
1. Front arena data export
- The customer exports the Front Arena Trade data set to be analyzed
- Analysis period can be flexibly selected
- Data is exported without mapping tables. There is no anonymization effort
2. Process analysis in Celonis
- Nagler & Company analyzes the data set in an individual procedure and evaluates the processes
- The customer gets access to the results through a written final report
- The N&C team presents the results to the customer during a workshop
- Together, possible solutions are uncovered, discussed and measures are planned to exploit the optimization potential
Option 1: Ad-hoc and routine process analysis
- N&C supports the customer with recurring process analyses
- Customer can monitor and measure progress and improvements
- No implementation costs or use of internal resources
Option 2: Software implementation
- N&C supports companies in the implementation of Celonis
- Employees are trained in the use of the software and empowered to use it independently
In order to meet your individual needs, Nagler & Company offers three service models. These differ according to the type and scope of the analyses.
In this offer, we combine our many years of professional expertise in the front area with the possibilities Celonis offers for your added value.
- Definition of the process to be analyzed
- Detailed analysis and deep dive into process characteristics
- Discussion of various measures to address the identified issues
- Detailed analysis +
- Proof of Business Impact from Celonis
- Customer gets direct access to dashboards
3. Implementation of Celonis
- Ongoing process control and optimization
- Use of the entire Celonis product range
- Staff training
Our employees are excellently prepared for project deployment at the customer's site through a combination of official Celonis certifications and technical expertise.
Please feel free to contact us with any questions or for an individual offer.
