Lean IT: The Time for Transformation Is Now
Source: IDG (International Data Group)
In today's economic environment, reducing costs and increasing efficiency should be priority one for financial institutions. To assist in this process, many institutions are investigating opportunities to create more value for customers by eliminating or reducing non-value-adding activities. Lean processing, long a staple in manufacturing, provides this opportunity for increasing efficiency within financial services. Despite the lack of acceptance to date, there is in fact much that financial services companies can learn from Lean methodologies and more specifically Lean IT. With Lean IT, technology can lead the way in providing value across the enterprise, but it is the alignment with business strategy and the proper governance model that will ensure success and achieve measurable results.