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IT departments have built new applications to support business expansions, new products, or a new line of business (LOB). Consequently, IT owns and operates several discreet applications, each of them complex, non-modular and with its own dedicated resources. Front-office applications introduced many “spaghetti” connections to provide access to the silo'd Back-office systems, increasing the overall complexity of Enterprise applications. This resulted in several challenges for the Enterprise, which include:

• Lack of agility
• Difficulty in re-using existing assets
• Low levels of functional automation
• Low levels of cross-functional automation
• Minimal support for dynamic (customer-centric) processes

ValueMomentum Services:
ValueMomentum is helping its Clients rationalize and consolidate their existing applications and standardize the architecture, while leveraging their existing systems. ValueMomentum is assisting Insurance and Lending Enterprises Rationalize and Consolidate existing applications using different approaches:

• Rationalize silo'd applications and structure them as a set of common reusable services accessible by other applications to reduce duplicate code.
• Leveraging the SOA approach, create a foundation that serves the entire enterprise, not discrete business units in isolation (Enterprise Shared Platform) to support needs of multiple groups.
• Lower new system development time by using reusable services in the Enterprise Shared Platform.
• Gain resource synergies and cost savings through modular and shared structure for applications.
• Reduce the complexity and number of connections between applications. Maximize reuse of already built applications and technology assets.
• Externalize existing Standard-processes (enterprise processes that are applied uniformly to all Customers, in all situations) from silo'd systems and automate them. Currently, whenever such processes involve multiple systems, manual participation is required to look-up data or decisions from other systems. Externalization allows reuse and eases maintenance.
• Introduce the capability to determine, at the time of a transaction, which set of activities to be performed and in what sequence based on Account type and situation (i.e. introduce new, rules driven, Dynamic-processes)

With the advent of technologies such as Business Process Management (BPM), Business Rules Engines (BRE) and Web Services and approaches such as Service Oriented Architecture (SOA), many of the above needs can be fulfilled.