As part of the Commonwealth Bank’s commitment to education, the bank is collaborating with universities to offer real-world information for course work, to help build relevant skills needed by industry in the future.
Business Process Management is the discipline of improving organisational performance by analysing the efficacy of business processes and designing new and improved process experiences.
Under the partnership, Commonwealth Bank and QUT will collaborate on education, process mining, and research, which includes:
- A twelve-week corporate education course for Commonwealth Bank employees, designed by QUT’s Business Process Management Discipline.
- Commonwealth Bank funding two PhD scholarships for QUT students researching process mining, i.e. the advanced analysis of big process data.
- Access to cutting-edge research, real-world problems, and supporting data to validate the research.
"Every customer experience we provide, every customer need we meet, and every business value we create is delivered through a business process so it’s essential that we understand how our high impacting processes are performing, said Dan O’Neill, Chief Process Officer for Commonwealth Bank.
"Partnering with QUT enables us to not only tap into the latest thinking and techniques on Business Process Management, but also provides us with the ability to support and help influence further education on these essential new skills for the future".
QUT’s Executive Director, Corporate Engagement, Professor Michael Rosemann said the partnership with Commonwealth Bank would "power demand-driven research, evidence-based education and exciting consulting opportunities.
"QUT research students will have access to practically relevant problems to inspire our research in the area of process mining, and real-life datasets to validate our research,” he said.
This partnership follows the Commonwealth Bank’s collaboration with the Australian Graduate School of Management in 2015, on a program that combines academia with cross-industry experience to develop process experts as strategic leaders.
Internally, the Commonwealth Bank's focus on productivity has fostered a culture of continuous improvement right across the organisation. All employees are trained on the fundamental habits of productivity, and in 2016, Commonwealth Bank became the first Financial Institution to receive a Shingo Silver Medallion for process excellence.