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TIBCO Powers BPM Award Winners At 2005 Global Excellence Awards
Warships Support Agency and Nedbank Recognised for Best Practices in BPM
London, December 22, 2005 - TIBCO Software Inc. (NASDAQ: TIBX), a leading business integration and process management software company that enables real-time business, today announced that two TIBCO customers – the Warships Support Agency and Nedbank –won awards at the industry recognized 2005 Global Excellence Awards for innovation and excellence in business process management (BPM). TIBCO´s BPM software represents the technology foundation that helped secure a Gold award (Europe region) for the Warships Support Agency, and a Silver award (Middle East – Africa region) for Nedbank.
The Warships Support Agency award entry highlights the pivotal role BPM played in the refitting of the first submarine in the UK´s Trident fleet. Undertaken periodically and costing many millions of pounds, the refitting of a modern nuclear submarine is a complex process involving a large number of geographically diverse parties. The introduction and implementation of a BPM solution has resulted in a significant increase in the accuracy of information, a dramatic improvement in the level of tracking information and vastly improved problem solving, while the ready availability of management information can identify bottlenecks in the system, reducing turnaround times.
The Nedbank entry details how it has used BPM to meet two objectives – to increase business for the bank by processing credit applications more rapidly and, secondly, to further enhance customer service as a result. Since implementing the TIBCO BPM solution, the Credit Control Department went from processing between 2,000 and 6,000 applications a month, to up to 15,000 by the fourth month of implementation without any additional resources required to process the extra applications.
The awards –supported by the Workflow Management Coalition (WfMC) and the Workflow and Reengineering International Association (WARIA) – recognize best practices in BPM. Against heavy competition from other BPM projects, the Warships Support Agency and Nedbank were singled out for the tangible results that they have enjoyed following their respective TIBCO BPM implementations.
"The integration industry has considerable respect for the Global Excellence Awards for innovation and excellence in Business Process Management, because it celebrates real–world projects, with real-world results," said Ram Menon, senior vice president, Worldwide Marketing, TIBCO Software, Inc. "That TIBCO should be behind two of this year´s high profile winners, is an independent endorsement that validates our BPM proposition."
About TIBCO Software
TIBCO Software Inc. (NASDAQ:TIBX) is a leading business integration and process management software company that enables real-time business. Real-Time Business is about helping companies become more cost-effective, more agile and more efficient. TIBCO has delivered the value of Real-Time Business, what TIBCO calls The Power of Now®, to over 2,000 customers around the world and in a wide variety of industries. For more information on TIBCO's proven enterprise backbone, business integration, business process management, and business optimization solutions, TIBCO can be reached at +1 650-846-1000 or on the Web at www.tibco.com. TIBCO is headquartered in Palo Alto, CA.
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TIBCO, the TIBCO logo, The Power of Now and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
