stpsolutions is a consultancy committed to bringing benefits to its clients by re-evaluating business processes to take advantage of the widespread adoption of electronic information interchange and straight through processing of business transactions. Whilst much of its work has been in the securities industry, where electronic dealing and settlement have been widespread for a number of years, it has now applied the same technologies and processes to other industries, notably the property industry.
Straight Through Processsing involves integrating the many and varied systems used to conduct business and removing repetitive human processing and potential for error. Not only do systems need to be integrated internally but there is also a requirement to connect to disparate systems used by trading partners and other industry participants - an information supply chain.
Companies must identify the opportunities afforded by these new technologies to improve product delivery, customer service and overall profitablity. stpsolutions believes that the considerable restructuring of how information is gathered, recorded and delivered will destroy some traditional business models whilst creating opportunities for those companies willing to embrace change. The emergence of 'cloud computing' and 'Software as a Service' are seen as the most significant technological developments that will affect the ways in which businesses are organised and communicate with each other.
The objectives of overall business processes change very little, it's how they are accomplished that changes more frequently and which differentiates winners from losers.