Understanding your business dimensions

At iMeta we pride ourselves in knowing your business’

• We know your clients and prospective clients
• We know your KYC rules and operational processes
• We know your products
• We know your entities
• We know your 3rd party relationships
• We know your risk profiles
• We know your exposure
• We know your contracts
• We know your client lifecycle management context
• We know your profitability
• We know your customer service
• We know your locations
• We know your data

Starting with a Radial Approach

We know all these things about your business. And it is because we know these things that we ALSO know that the various aspects of your business inter-operate in a complex and often circular fashion. This means that when we are defining solutions in the Onboarding and Client Lifecycle Management (CLM) space, it is better to start with a radial (i.e. non-linear) approach.

And so, while we know and have enabling capability for the many challenging aspects within client lifecycle management, we also recognise that the physical and political topography (distribution of parts and features) of your business, make it nearly impossible to holistically understand and then provide an end-to-end solution at once – all in one go.

And this is where, unlike other vendors, we will never try to sell you a one-stop / fits-all solution for everything under the CLM sun.

Albert Einstein noted that if he were given only one hour to save the world, he’d spend fifty-five minutes understanding and defining the problem and only five minutes finding the solution.

Why CLM Projects Fail

In our opinion, the reason why so many implementations of ‘traditional’ CLM management technologies have either taken years to complete and/or have been costly failures, is because firms, along with lesser-capable vendors, have adopted a straight-line approach to solution delivery – start here and end there. They have often failed, through lack of expertise or lack of imagination, to adopt a resolution methodology that takes into account the significant topographical considerations of the domain.

This flawed linear approach results in operational assessments that aligns tasks against each other chronologically, within defined timelines. When this is done, the associated solution will then try to describe the impact of aligned tasks, continuous communication, multiple feedback loops and process iterations all in a constant manner.

One thing we know about business operations is that there is very little constancy! Hence, creating logical processes dependent on constrained starting points (start here, end there), unfortunately, results in linear solutions that ultimately diminish game-changing ideas, and curb change strategies to restricted points on a pre-defined path.

It is not surprising then that this methodology limits adaptability within design, confines solutions to a single direction and often delivers capability too black-and-white to be fully and permanently effective in our complex and evolving business landscapes.

Delivering Maximised Outcomes

iMeta advocates a non-linear plan of attack (like Mr Einstein’s), that should involve fleshing out business and process connections, discovering blockers, identifying control risks and finding ways to eliminate work repetition (a common symptom of outspread topographies).

A better evaluated and radial assessment of your business areas will result in smarter solutions that deliver maximised outcomes in shorter windows of time, and this will be more durable over time.
Given that iMeta has a relevant and deep understanding of business requirements, together with a suite of solutions to meet your many needs, in the weeks ahead we will post a series of blogs considering the realities of navigating the Financial Services CLM topography.

These will explain how to observe, quantify and understand your business in a non-linear way; seeking to deliver a visual representation of your organisation that shows the core operating units and their relationships (e.g. process flows, decision drivers, interactions), and results in the creation of a shared unambiguous view of how your organisation can deliver its CLM transformation strategy, both for today and tomorrow.