In January 2020, TriFinance embarked on a transformative journey through the Process Insights project. The main aim of the project, which is still ongoing, is to enhance process maturity within the organization. By eliminating redundancies and fostering engagement, the TriFinance leadership wanted to provide clients and candidates with a standardized experience. In this article, we'll discuss key steps, that include mapping processes, validating them with stakeholders, and leveraging peer groups for valuable feedback.
We also documented the project in a few videos where some stakeholders discussed the method, implementation, advantages, and their contributions to the project. In a separate video, Pieter Smit, a member of the leadership team, and Alexander Van Caeneghem, BCB leader CFO Services, explain how TriFinance, with the Process Insights project, implements a bottom-up transformation approach that focuses on transparency, dialogue, and continuous improvement.
Achieving Consistency and Efficiency
For most organizations, consistency and efficiency in their processes are key to a seamless client, employee, and candidate experience. Still, many companies face the challenge of having different approaches and variations across teams.
TriFinance helps clients tackle this challenge on a daily basis through the many transformation projects we deliver, but recently we have tackled the issue head-on in our own organization. The Process Insights project started in January 2020, and is still running. It aims at improving collaboration and creating uniform processes throughout the organization.
Driven by the TriFinance vision of having consistent processes across the board, the project team aimed at eliminating redundant practices and reinventing working together, ultimately providing clients and candidates with a standardized experience.
The vibrant exchange of ideas within the peer groups paved the way for process alignment and improvement. Once consensus was reached, the newly refined processes were ready for implementation, marking a significant milestone in standardizing operations
The Journey towards Standardization: Mapping, Validation, and Improvement:
To kick-start the project, TriFinance began mapping their primary processes, the TF customer journey and the TF employee journey, leveraging valuable insights from process owners.
Using the process modeling tool Mavim, the information was transformed into a visual representation of the organization's processes. This visual model served as a foundation for discussion and validation with the Process Owners, ensuring accuracy. 'The next step involved bringing together the peer groups,' Business Process Manager Kyra Boudrez says. 'We asked participants to share feedback and discuss the modeled processes and proposals for improvement.' At TriFinance, peer groups convene on a regular basis according to a Peer Group Program, basically set up for knowledge exchange between people in the same role but working for different business units called Blue Chip Boutiques.
The collaboration within the PGPs yielded a remarkable amount of feedback and constructive suggestions. This vibrant exchange of ideas paved the way for process alignment and improvement. Once consensus was reached, the newly refined processes were ready for implementation, marking a significant milestone in standardizing operations.
For TriFinance, true process maturity requires active engagement and ownership from all employees. We recognize the importance of allowing processes to live and evolve within the organization.
Engaging Employees for Continuous Improvement
However, the Process Insights project went beyond mere documentation. TriFinance understood that true process maturity requires active engagement and ownership from all employees. The organization recognized the importance of allowing the processes to live and evolve within the organization. This responsibility fell on the Process Owners and on Business Process Manager Kyra Boudrez, who played a pivotal role in ensuring that processes adapted to changing needs and continuous improvement.
Additionally, the project included the establishment of BPM governance, integrating the FARM (Financial and Accounting Reporting Manual) framework, and modeling the financial processes. The next stage of the project is the formalization and modeling of the management processes. This comprehensive approach aimed to create a solid foundation for ongoing process optimization and sustainability.
Watch the videos on the Process Insights projects.