Digitisation in the financial sector: A pension fund loves the Cloud
A current case study from the financial industry demonstrates the potential of Cloud solutions for organisations facing high standards of compliance. At APK Vorsorgekasse AG, several aspects of process optimisation were addressed by gradually implementing a Public Cloud solution. The result was astonishing.
“The Cloud has helped us digitise internal administrative processes across the boundaries of our locations, and we are now saving more than half of the time required for processing”, says Claudia Erlinger, BA, Head of Administration and IT at APK Vorsorgekasse AG.
From historically evolved inefficiencies to 50 percent savings of time
50 percent savings of time. That really is something to be savoured. The resources freed up in this way are highly welcome in an industry facing high pressures of innovation, and can be spent on customer experience and the development of services and products.
In the case of APK Vorsorgekasse AG, processes that did not immediately concern the company’s core business took up a great deal of time and effort. Business trip forms, invoice approvals or reports on suspicions of money laundering were partly printed, signed by hand, mailed to colleagues working at a different location and manually processed there. Every business is familiar with internal inefficiencies that have evolved over time, and APK Vorsorgekasse AG wanted to tackle them.
In view of the industry’s strict guidelines and requirements on security and data protection, any supplier to be considered had to satisfy these settings.
Highest European standards of security and servers in the DACH region
The choice went in favour of the Fabasoft Cloud. The most important deciding factors were local data storage in a data centre in Germany, Austria or Switzerland, certified European standards of security as well as quality with regard to quick, personal, qualified and contractually guaranteed support. “We were particularly impressed with the incredibly swift implementation of the project by Fabasoft. The Upper Austrian Cloud provider clearly exceeded our expectations”, Claudia Erlinger describes her experiences.
In my view, the key factors critical for success are the following: Fabasoft is an independent provider with many certifications on security and compliance and a native Cloud solution which is built on the cornerstones of security, data protection, traceability, transparency, usability and scalability. This is supported by the fact that we were the first European Cloud provider to be awarded the attestation according to the C5 requirements catalogue (Cloud Computing Compliance Controls Catalogue) of the German Federal Office for Information (BSI).
Low marginal costs – smooth scalability
At APK Vorsorgekasse AG, the Fabasoft Cloud was initially rolled out for several internal processes to see how and where time could be saved. The organisational structure of the team was depicted in the Cloud solution, frequently executed and time-consuming processes were modelled in a graphical BPMN 2.0 editor. This approach links processes to roles instead of particular persons, which makes modifications much easier if personnel changes. Process transparency is now ensured for all parties involved: Documents and processes are digitised, automated and managed across the boundaries of locations, independently of these locations and with full traceability. Each person involved always knows where to find the relevant documents. Process participants have access to all information that is important to them at any time. “Working with the Fabasoft Cloud has taken traceability of our internal processes to a new level of quality”, Claudia Erlinger is impressed. Following the successful implementation, the APK Group will assess whether the Fabasoft Cloud will be rolled out across the entire organisation.