Business Process Reengineering and Its Impact on Comparative Performance of Net worth of Associate Bank with State Bank of India

Abstract

The banking scenario in India is at cross roads and is continuously evolving, but the progress has been remarkable in recent years with the level of competition increasing in the banking industry. Banks are trying with each other to entice customers with more and more personalized service. Over the last decade, the concept of Business Process Reengineering (BPR) has entered the industry mainstream in many business houses and services. Leading organizations in almost every industry have discovered that by harnessing, managing, and redesigning the organizations business processes can induce spectacular improvements in business performance and customer service. This study tries to investigate this phenomenon in the context of State Bank of India and its Associates. BPR implies transforming processes that are part of a larger system in order to enable organizations to empower themselves with contemporary technologies, business solutions and innovations to customize their business processes.

Keywords:BPR, ICT, Financial Performance Innovation, transforming process and economy.