Surviving in Uncertain Times: Decision Management Technology Can Help Banks Survive and Thrive Amid the Recession
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Overview: Entering a global recession, companies must respond to increasingly complex markets, changing threats and fleeting opportunities. Improving the way you manage your decisions is critical for survival. Decision Management technology meets four imperatives for businesses seeking to thrive in today’s difficult environment:
• Give business owners control to increase agility: Decision Management puts business owners in charge of day-to-day operations, and delivers a stronger partnership between the business and IT. These same business owners can deliver new products and services more rapidly, and so accelerate time to value.
• Make decisions in the face of uncertainty: Decision Management ensures that greater flexibility does not expose the company to unnecessary or unmanageable risks in uncertain times, because it takes risk and uncertainty into account.
• Drive out costs and ensure optimal resource allocation: Decision Management ensures that company assets are used as close to optimally as possible to maximize the return on those assets and drive out unnecessary operating costs.
•Improve customer treatment everywhere: Decision Management ensures customers are retained, developed, supported and made more profitable consistently across channels and time.
The paper presents case studies from FICO clients in each of these areas, including Dell Financial Services, HSBC, Egg and Bank of Communications. The FICO platform for Decision Management gives banks the power to make connected decisions across the customer life cycle and across business systems.