“These four clusters you ensure your Internal Processes are both efficient and effective, resulting in satisfied and loyal customers and creating value for your shareholders.”

1. Operations Management: The most basic of the four clusters, Operations Management processes relate to the basic, day to day routine activities necessary to first produce and ultimately deliver a product or service to the market. For example, underwriting is a core process employed at most banks.
2. Customer Management: As the name implies, this cluster focuses on processes relating to the management of a company’s customers, and includes the acquisition of your target customer group, proactively communicating the company’s value proposition in hopes of turning window shoppers into actual paying customers, and carefully determining user needs, targeting solutions accordingly.
3. Innovation: No company in today’s business environment can afford to stand still, content with the status quo, should they hope to thrive in a world fueled by innovation and new technology. Accordingly, this cluster focuses on the development of new products and services designed to meet the emerging needs of your customer base.
4. Regulatory and social: This final cluster has a dual focus, the first being represented by processes necessary to remain within regulatory guidelines established by third parties, such as Sarbanes-Oxley reporting to ensure the integrity of reported financial numbers. This cluster also provides a company with the opportunity of being a good corporate citizen; advocating on behalf of customers, supporting worthy causes, and providing a voice in the community.

From EPMReview.com