Inefficiencies with paper forms
With a focus on sustainability, Sarasin & Partners continually seeks ways in which to reduce paper consumption across the business. Before implementing K2, the firm often relied on paper forms, which complicated processes involving several departments and staff members.
For example, documents requiring approval signatures could be generated by 220 members of staff and passed across up to 8 different desks, over 3 floors in the building. Approval processes took many days to complete, and it was often necessary for employees to phone or email their colleagues to ascertain the status of an approval. Hard-copy documents took time to collate, and the firm realized it needed to automate processes around critical processes.
Initially, the firm set out to automate just one process: logging incidents around operational risks. After evaluating many of the common risk management and incident reporting solutions used in the financial industry, the IT team at Sarasin & Partners realized a process automation platform would be a better fit for a company focused on large-scale business process improvement.