Business Process Automation - Are We Ready

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					Business Process Automation -
       Are We Ready?

              Panel C
    WFIC, London, 1st November
           12:00 - 13:15
         Today’s Session
   Introductions
    – Janet Simpson; Chris Newson; Peter
      Fruitema; Mike Atkin
 Overview of “BPA”
 User View and Inventory Management
  System provider view
 Report from the FISD study
 Questions and panel discussion
     What does BPA cover?
A massive topic encompassing many
  different areas
Invoice in electronic format    Users being able to analyse,
                                  by coding, the exchange
Exchanges being able to
                                  or specialist data
   audit vendors remotely
                                  elements included in a
 Vendors being able to accept     vendor product
    electronic DADs
                                XML standard for electronic
Vendors supplying machine-         invoices & declarations
  readable service codes        Straight-through processing
  for Inventory Systems            of market data, no paper
 …consistent across and            involved, just like an on-
   within vendor offerings         line stationery order
    Background and History

   WFIC Conference 1999 Toronto -
    increased use of inventory management systems

   Administration Simplification -
    a mandate for Business Process Automation
    What customers didn’t like

 Too much paper - orders, price lists,
  additional contracts, installed position
 Manual invoice reconciliation
 Inconsistent Service code conventions

 Datafeed Access Declarations: reams of
 Not enough on-line tools
What customers wanted instead

    Invoices in electronic form for easier reconciliation
   Links to inventory management systems
      –   Initial data entry
      –   Catalogue of service names and prices
      –   Interface to permissioning systems
      –   Automated DAD completion
      –   Globally consistent service codes

   Electronic price lists and DADs - on-line

   Order tracking, Customer Purchase Reference
    numbers, even Ordering API
           Vendors and Admin
Using Datafeed Access Declarations as an example

   Manually producing the form
   Manually putting all the declared figures into the
    system when they reappear from customers
   Storing and filing all the paper DADs
   Passing the figures through to the Exchanges and
    paying them
   Finding all the paper forms again at Exchange Audit
          Exchanges and BPA

   Indirect-billed Exchanges
    – Vendor Audits

   Direct-billed exchanges
    – Automated reports

   FISD Work on common coding

   Reuters:
    – RIO - Reuters Internet Office
    – eDAD / DAD from DACS

   Proposals to explore XML as an industry
    standard for Business Process Automation
 Non-technical people can find this
  alarming - no need!
 Separates data from formatting
 Simple text-based file
 Concept rather like Record vs. Page
 File much smaller - easier to send
          Good News
 Lots of steps forward
 Individual vendors and exchanges have
  made great leaps towards these goals
 Click-wrap contracts, on-line
  administration, codes, eDADs
 People still thinking of better ways
  around things
    …Challenges remain
 Patchy - only individual companies, not
 Embracing new technology hasn’t been
 People still feel comfortable with old
  ways and companies can restrict new
  methods - easier not to bother, inertia
 Thinking ahead - not just today’s
  problems but solving tomorrow’s
  Chris Newson, Fidelity & IPUG
               User View
Peter Fruitema, Screen Consultants
     Inventory System Provider View
         Mike Atkin, FISD
   Feedback from the FISD BPA Study