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Article

Bokyoung Kang, Jae‐Yoon Jung, Nam Wook Cho and Suk‐Ho Kang

The purpose of this paper is to help industrial managers monitor and analyze critical performance indicators in real time during the execution of business processes by…

Abstract

Purpose

The purpose of this paper is to help industrial managers monitor and analyze critical performance indicators in real time during the execution of business processes by proposing a visualization technique using an extended formal concept analysis (FCA). The proposed approach monitors the current progress of ongoing processes and periodically predicts their probable routes and performances.

Design/methodology/approach

FCA is utilized to analyze relations among patterns of events in historical process logs, and this method of data analysis visualizes the relations in a concept lattice. To apply FCA to real‐time business process monitoring, the authors extended the conventional concept lattice into a reachability lattice, which enables managers to recognize reachable patterns of events in specific instances of business processes.

Findings

By using a reachability lattice, expected values of a target key performance indicator are predicted and traced along with probable outcomes. Analysis is conducted periodically as the monitoring time elapses over the course of business processes.

Practical implications

The proposed approach focuses on the visualization of probable event occurrences on the basis of historical data. Such visualization can be utilized by industrial managers to evaluate the status of any given instance during business processes and to easily predict possible subsequent states for purposes of effective and efficient decision making. The proposed method was developed in a prototype system for proof of concept and has been illustrated using a simplified real‐world example of a business process in a telecommunications company.

Originality/value

The main contribution of this paper lies in the development of a real‐time monitoring approach of ongoing processes. The authors have provided a new data structure, namely a reachability lattice, which visualizes real‐time progress of ongoing business processes. As a result, current and probable next states can be predicted graphically using periodically conducted analysis during the processes.

Details

Industrial Management & Data Systems, vol. 111 no. 5
Type: Research Article
ISSN: 0263-5577

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Article

Bokyoung Kang, Dongsoo Kim and Suk‐Ho Kang

The purpose of this paper is to provide industrial managers with insight into the real‐time progress of running processes. The authors formulated a periodic performance…

Abstract

Purpose

The purpose of this paper is to provide industrial managers with insight into the real‐time progress of running processes. The authors formulated a periodic performance prediction algorithm for use in a proposed novel approach to real‐time business process monitoring.

Design/methodology/approach

In the course of process executions, the final performance is predicted probabilistically based on partial information. Imputation method is used to generate probable progresses of ongoing process and Support Vector Machine classifies the performances of them. These procedures are periodically iterated along with the real‐time progress in order to describe the ongoing status.

Findings

The proposed approach can describe the ongoing status as the probability that the process will be executed continually and terminated as the identical result. Furthermore, before the actual occurrence, a proactive warning can be provided for implicit notification of eventualities if the probability of occurrence of the given outcome exceeds the threshold.

Research limitations/implications

The performance of the proactive warning strategy was evaluated only for accuracy and proactiveness. However, the process will be improved by additionally considering opportunity costs and benefits from actual termination types and their warning errors.

Originality/value

Whereas the conventional monitoring approaches only classify the already occurred result of a terminated instance deterministically, the proposed approach predicts the possible results of an ongoing instance probabilistically over entire monitoring periods. As such, the proposed approach can provide the real‐time indicator describing the current capability of ongoing process.

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Article

Christian Janiesch, Martin Matzner and Oliver Müller

The purpose of this paper is to show how to employ complex event processing (CEP) for the observation and management of business processes. It proposes a conceptual…

Abstract

Purpose

The purpose of this paper is to show how to employ complex event processing (CEP) for the observation and management of business processes. It proposes a conceptual architecture of BPM event producer, processor, and consumer and describes technical implications for the application with standard software in a perfect order scenario.

Design/methodology/approach

The authors discuss business process analytics as the technological background. The capabilities of CEP in a BPM context are outlined an architecture design is proposed. A sophisticated proof‐of‐concept demonstrates its applicability.

Findings

The results overcome the separation and data latency issues of process controlling, monitoring, and simulation. Distinct analyses of past, present, and future blur into a holistic real‐time approach. The authors highlight the necessity for configurable event producer in BPM engines, process event support in CEP engines, a common process event format, connectors to visualizers, notifiers and return channels to the BPM engine.

Research limitations/implications

Further research will thoroughly evaluate the approach in a variety of business settings. New concepts and standards for the architecture's building blocks will be needed to improve maintainability and operability.

Practical implications

Managers learn how CEP can yield insights into business processes' operations. The paper illustrates a path to overcome inflexibility, latency, and missing feedback mechanisms of current process modeling and control solutions. Software vendors might be interested in the conceptualization and the described needs for further development.

Originality/value

So far, there is no commercial CEP‐based BPM solution which facilitates a round trip from insight to action as outlines. As major software vendors have begun developing solutions (BPM/BPA solutions), this paper will stimulate a debate between research and practice on suitable design and technology.

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Article

Christian Sonnenberg and Jan vom Brocke

The purpose of this paper is to integrate business process management (BPM) and accounting on a conceptual level in order to account for the economic implications of…

Abstract

Purpose

The purpose of this paper is to integrate business process management (BPM) and accounting on a conceptual level in order to account for the economic implications of process-state changes in process design-time and process run-time.

Design/methodology/approach

The paper adopts a design science research paradigm. The research, grounded in an “events” approach to accounting theory, builds on the REA accounting model that has been adapted for the design of a process accounting model (PAM).

Findings

The paper presents a PAM that can be used to structure event records in process-aware information systems (PAIS) to enable process-oriented accounting. The PAM is specified as a light weight data structure that is intended for the integration of PAIS and accounting information systems.

Research limitations/implications

As this paper is technical in nature, more research is needed to evaluate more thoroughly its approach in naturalistic settings.

Practical implications

The PAM can support traditional accounting approaches, and because of the adopted events approach, it readily supports use cases related to real-time analytics in BPM and accounting.

Originality/value

The PAM presents a novel approach to integrating BPM and accounting. The novelty of this approach lies in its use of event records to document flows of economic resources.

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Article

Securities Industry Association, Compliance and Legal Division

To discuss the scope and limits of the compliance department's responsibilities in securities firms.

Abstract

Purpose

To discuss the scope and limits of the compliance department's responsibilities in securities firms.

Design/methodology/approach

Describes the background to establishing stand‐alone compliance departments; the organizational structure of compliance departments; typical compliance functions; how the compliance department coordinates with business units, senior management, internal audit, and risk management; the distinction between a firm's responsibility to comply with applicable laws and regulations and the role of the compliance department; the distinctions between responsibilities of the compliance department and those of supervisors and senior management; and emerging regulatory trends impacting the compliance department.

Findings

New business activities and new regulations have placed increased demands on, and scrutiny of, compliance activities over the past few years. Regulators are looking to compliance departments to play an increasingly important role in identifying proactively and responding to potential wrongdoing.

Originality/value

Explains the critical importance of a well staffed, experienced, and adequately funded compliance department.

Details

Journal of Investment Compliance, vol. 6 no. 3
Type: Research Article
ISSN: 1528-5812

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Article

Mahendrawathi E.R., Buce Trias Hanggara and Hanim Maria Astuti

Enterprise resource planning (ERP) implementation commonly fails to recognize the need to treat it as a business process automation that must be managed and monitored

Abstract

Purpose

Enterprise resource planning (ERP) implementation commonly fails to recognize the need to treat it as a business process automation that must be managed and monitored continuously. Moreover, many studies on business process management (BPM) assessment focus on snapshots of different areas of BPM and not on the different stages of the lifecycle. The purpose of this paper is to propose a model that combines the BPM lifecycle, program/project implementation framework, principles of good practice, maturity and critical practices to assess how companies implementing ERP apply different BPM practices, as well as which areas are lacking and why.

Design/methodology/approach

The relevant literature was examined to develop the model for the study. Case studies of three companies in Indonesia were then conducted. The state of BPM implementation in each case was assessed through interviews, document reviews and observations.

Findings

This study found that three leading companies in Indonesia, implementing ERP for more than five years, obtained high scores for BPM implementation. They perform well in terms of process identification, implementation, monitoring and control, but are weak in process discovery and re-design, mainly because they do not optimally use specific tools for process modeling and there is a lack of process governance. The studies also pinpoint potential linkages between competition intensity and the nature of the industry with the need for good BPM.

Research limitations/implications

The model has only been tested in three cases in different industries and therefore the results, while providing good insights, cannot be generalized. More detailed assessment of certain BPM practices is needed. Furthermore, the assessment for each stage of BPM implementation was made at a single time, potentially yielding less detailed results than by assessing each stage of the BPM lifecycle.

Practical implications

The companies implementing ERP began with business process definition, but employ different process governance. The model developed here can be useful for leaders and teams to identify weak areas of practice within the stage of the BPM lifecycle; it can be used as an assessment tool for companies currently conducting BPM projects or programs including ERP implementation. It can also provide a roadmap for companies intending to conduct BPM programs.

Originality/value

Most of the BPM literature focuses on specific aspects. This study proposes a different perspective by providing a model to assess BPM implementation in each stage of its lifecycle and at the same time considers practical aspects of implementation, principles of good practice, maturity factors and critical practices.

Details

Business Process Management Journal, vol. 25 no. 5
Type: Research Article
ISSN: 1463-7154

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Book part

Azizah Ahmad

The strategic management literature emphasizes the concept of business intelligence (BI) as an essential competitive tool. Yet the sustainability of the firms’ competitive…

Abstract

The strategic management literature emphasizes the concept of business intelligence (BI) as an essential competitive tool. Yet the sustainability of the firms’ competitive advantage provided by BI capability is not well researched. To fill this gap, this study attempts to develop a model for successful BI deployment and empirically examines the association between BI deployment and sustainable competitive advantage. Taking the telecommunications industry in Malaysia as a case example, the research particularly focuses on the influencing perceptions held by telecommunications decision makers and executives on factors that impact successful BI deployment. The research further investigates the relationship between successful BI deployment and sustainable competitive advantage of the telecommunications organizations. Another important aim of this study is to determine the effect of moderating factors such as organization culture, business strategy, and use of BI tools on BI deployment and the sustainability of firm’s competitive advantage.

This research uses combination of resource-based theory and diffusion of innovation (DOI) theory to examine BI success and its relationship with firm’s sustainability. The research adopts the positivist paradigm and a two-phase sequential mixed method consisting of qualitative and quantitative approaches are employed. A tentative research model is developed first based on extensive literature review. The chapter presents a qualitative field study to fine tune the initial research model. Findings from the qualitative method are also used to develop measures and instruments for the next phase of quantitative method. The study includes a survey study with sample of business analysts and decision makers in telecommunications firms and is analyzed by partial least square-based structural equation modeling.

The findings reveal that some internal resources of the organizations such as BI governance and the perceptions of BI’s characteristics influence the successful deployment of BI. Organizations that practice good BI governance with strong moral and financial support from upper management have an opportunity to realize the dream of having successful BI initiatives in place. The scope of BI governance includes providing sufficient support and commitment in BI funding and implementation, laying out proper BI infrastructure and staffing and establishing a corporate-wide policy and procedures regarding BI. The perceptions about the characteristics of BI such as its relative advantage, complexity, compatibility, and observability are also significant in ensuring BI success. The most important results of this study indicated that with BI successfully deployed, executives would use the knowledge provided for their necessary actions in sustaining the organizations’ competitive advantage in terms of economics, social, and environmental issues.

This study contributes significantly to the existing literature that will assist future BI researchers especially in achieving sustainable competitive advantage. In particular, the model will help practitioners to consider the resources that they are likely to consider when deploying BI. Finally, the applications of this study can be extended through further adaptation in other industries and various geographic contexts.

Details

Sustaining Competitive Advantage Via Business Intelligence, Knowledge Management, and System Dynamics
Type: Book
ISBN: 978-1-78441-764-2

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Article

Julian Krumeich, Benjamin Weis, Dirk Werth and Peter Loos

The business operations of today's enterprises are heavily influenced by numerous of internal and external business events. With the Event Driven Architecture and…

Abstract

Purpose

The business operations of today's enterprises are heavily influenced by numerous of internal and external business events. With the Event Driven Architecture and particularly the Complex Event Processing (CEP), the technology required for identifying complex correlations in these large amounts of event data right after its appearance has already emerged. The resulting gain in operational transparency builds the foundation for (near) real-time reactions. This motivated extensive research activities especially in the field of Business Process Management (BPM), which essentially coined the term Event-Driven BPM (EDBPM). Now, several years after the advent of this new concept, the purpose of this paper is to shed light to the question: where are we now on our way towards a sophisticated adoption of the CEP technology within BPM?

Design/methodology/approach

The research methodology of this paper is a structured literature analysis. It basically follows the procedure proposed by vom Brocke et al. (2009). This verified five-step process – entitled “Reconstructing the giant” – allowed a rigorous study. As a result, various research clusters were derived, whose state-of-the-art exposed existing research gaps within EDBPM.

Findings

First of all, the paper provides a concise conceptual basis on different application possibilities of EDBPM. Afterwards, it synthesizes current research into six clusters and highlights most significant work within them. Finally, a research agenda is proposed to tackle existing research gaps to pave the way towards fully realizing the potentials of the paradigm.

Originality/value

So far, a comparable study of the current state-of-the-art within EDBPM is non-existent. The findings of this paper, e.g. the proposed research agenda, help scholars to focus their research efforts on specific aspects that need to be considered in order to advance the adoption of the CEP technology within BPM.

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Article

Rui Pedro Figueiredo Marques, Henrique M. Dinis Santos and Carlos Santos

The paper aims to present a solution which makes it possible to control and audit organizational transactions in real time, helping to determine the degree of reliability…

Abstract

Purpose

The paper aims to present a solution which makes it possible to control and audit organizational transactions in real time, helping to determine the degree of reliability with which they are carried out, mitigating the organizational risk. This auditing is made at a very low level of organizational transactions executed and supported exclusively in a digital format, contrary to what happens in most monitoring of transactions, which occurs at a high level. Moreover, it describes the conceptual architecture of the solution, its components and functionalities as well as the development and technical issues which should be taken into consideration on the deployment and evaluation of the solution.

Design/methodology/approach

The work follows the design science methodology. It presents the problem and motivation of the investigation, the solution design and how it is being deployed. Furthermore, it presents the expected results based on the proposed architecture and on the results which are currently being achieved with the prototype implementation.

Findings

The prototype is being put into practice, thus the gathering of results and their evaluation is not yet complete. However, preliminary results are really satisfactory and very close to those expected and enumerated.

Originality/value

The research contributes to a new vision of organizational auditing focused on assurance services in transactions executed and supported in a digital format in compliance with the formalisms of a business ontological model of organizational transactions.

Details

The Learning Organization, vol. 20 no. 6
Type: Research Article
ISSN: 0969-6474

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Article

Rocco R. Vanasco, Clifford R. Skousen and Curtis C. Verschoor

Professional accounting associations in various countries andgovernmental and other quasi‐official bodies have played an importantrole not only in the evolution of…

Abstract

Professional accounting associations in various countries and governmental and other quasi‐official bodies have played an important role not only in the evolution of internal control reporting on a global scale, but also in educating management, investors, financial institutions, accountants, auditors, and other interested parties highlighting the pervasiveness of the effects of a sound internal control structure in corporate reporting as well as other aspects of an organization′s success. These associations include the Institute of Internal Auditors (IIA), the American Institute of Certified Public Accountants (AICPA), the General Accounting Office (GAO), the Securities and Exchange Commission (SEC), the Cadbury Committee, the Institute of Chartered Accountants of England and Wales (ICAEW), the Scottish Institute of Chartered Accountants (SICA), the Canadian Institute of Chartered Accountants (CICA), and others. Business failures, management fraud, corporate misconduct, international bribery, and notorious business scandals in all sectors of business have prompted the US government to take drastic action on internal control reporting to safeguard public interest. Several professional and government committees were formed to study this precarious situation: the Treadway Commission, the Committee of Sponsoring Organizations (COSO) of the Treadway Commission, the Packard Commission, the Cohen Commission, the Adams Commission in Canada, the Cadbury Committee in the UK, and others. The principal motivation for the changing dynamics has been growing public pressure for greater corporate accountability. The government′s pressure on the accounting profession and management of public corporations has been pivotal in spearheading internal control reporting. Examines the role of professional associations, governmental agencies, and others in promulgating standards for internal control reporting, and the impact of legislation on this aspect of internal auditing in the USA and worldwide.

Details

Managerial Auditing Journal, vol. 10 no. 6
Type: Research Article
ISSN: 0268-6902

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