Models and methods applied in finance industry

Abstract
Today companies have to adapt to the fast changing business environment. External and internal change factors cause that business processes need to be dynamic, especially in service environments. In service processes there is a trend to include external services into the own process, resulting in a service chain spanning several companies. Adapting the dynamic business process, goal-orientation in the process allows supporting governance, which is a major goal for business stakeholders. This paper shows how the combination of transparency and adaptability leads to goal-oriented dynamic processes in service environments. By introducing models and tools companies are guided towards this goal, depending on their current process management state. Industry specific additions ensure the applicability. The concept is applied to an insurance scenario.