scholarly journals Model to Program and Blockchain Approaches for Business Processes and Workflows in Finance

2022 ◽  
Vol 5 (1) ◽  
pp. 10
Author(s):  
Meriem Kherbouche ◽  
Galena Pisoni ◽  
Bálint Molnár
Keyword(s):  
Business Process ◽  
Process Modeling ◽  
Business Processes ◽  
Computing System ◽  
Business Process Modeling ◽  
Business Environment ◽  
Future Research ◽  
Financial Industry ◽  
Activity Diagram ◽  
Depth Analysis

Business process modeling and verification have become an essential way to control and assure organizational evolution. We overview the opportunities for the application of blockchain in Business Process Management and Modeling in Finance and we focus on in-depth analysis of claim process in insurance as a use case. We investigate the utilization of blockchain technology for model checking of Workflow, Business Processes to ensure consistency, integrity, and security in a dynamically changing business environment. We create a UML profile for the blockchain, then we combine it with a UML activity diagram followed by a verification using Petri nets to guarantee a distributed computing system and scalable with mutable data. Our paper creates a unified picture of the approaches towards business processes modeling used in the financial industry organized around the set of premises intending to develop a future research agenda for blockchain business process modeling, specifically for the financial industry domain.

E-Business Modeling Languages

2013 ◽  
pp. 1-19
Author(s):  
Gábor Kovács
Keyword(s):  
Business Process ◽  
Process Modeling ◽  
Business Processes ◽  
Business Process Modeling ◽  
Business Environment ◽  
Modeling Languages ◽  
Business Modeling ◽  
Core Concepts ◽  
Process Engine ◽  
Business Process Execution

This chapter gives an overview of modeling languages used for modeling business environment, abstract workflows, executable business processes, and business data. The languages are either abstract that primarily serve the purposes of business modeling or executable that can be run in a business process engine. The business process modeling languages BPMN (Business Process Modeling Language) and BPEL (Business Process Execution Language) are in the center of the discussion; however, the core concepts and application area of other languages are given as well. An important part of business modeling is the description of business collaboration and the format of business information exchanged. XML based data modeling languages are used for describing such contracts. Throughout the chapter the focus is on the underlying concepts of these languages rather than the syntax.

Business Process Modeling

2012 ◽  
pp. 32-50 ◽  
Author(s):  
Donald R. Chand ◽  
Alina M. Chircu
Keyword(s):  
Business Process ◽  
Process Modeling ◽  
Process Management ◽  
Business Processes ◽  
Business Process Modeling ◽  
Modeling Tools ◽  
Activity Diagram ◽  
It Systems ◽  
Business Process Modeling Notation ◽  
Uml Activity Diagram

This chapter presents a variety of business process modeling notations that range from programming logic flowcharts to the new standard, BPMN (Business Process Modeling Notation), as put forth by the Business Process Management Initiative (BPMI) (http://www.bpmi.org). Specifically, it discusses (1) the use of unstructured programming flowcharts in modeling business processes and their adaptation in process flow diagramming notation, (2) the UML activity diagram, and (3) BPMN, a comprehensive notation for documenting and modeling complex business processes. Using simple examples, this chapter brings out the inherent complexity of modeling business processes and the need for modeling tools that synchronize and align the mental models of business users, process analyst and information technology (IT) systems developers in order to correctly represent the intended process.

A Method for Eliciting Goals for Business Process Models based on Non-Functional Requirements Catalogues

2013 ◽  
pp. 226-244 ◽  
Author(s):  
Evellin Cardoso ◽  
João Paulo A. Almeida ◽  
Renata S. S. Guizzardi ◽  
Giancarlo Guizzardi
Keyword(s):  
Business Process ◽  
Process Modeling ◽  
Business Processes ◽  
Business Process Modeling ◽  
Process Models ◽  
Functional Requirements ◽  
Business Process Models ◽  
Traditional Approaches ◽  
Goal Models

While traditional approaches in business process modeling tend to focus on “how” the business processes are performed (adopting a behavioral description in which business processes are described in terms of procedural aspects), in goal-oriented business process modeling, the proposals strive to extend traditional business process methodologies by providing a dimension of intentionality to business processes. One of the key difficulties in enabling one to model goal-oriented processes concerns the identification or elicitation of goals. This paper reports on a case study conducted in a Brazilian hospital, which obtained several goal models represented in i*/Tropos, each of which correspond to a business process also modeled in the scope of the study. NFR catalogues were helpful in goal elicitation, uncovering goals that did not come up during previous interviews prior to these catalogues’ use.

A Conceptual Framework for Business Process Modeling in Virtual Organizations

2010 ◽  
pp. 1627-1638
Author(s):  
Dimitris Folinas ◽  
Tania Pavlou ◽  
Bill Karakostas ◽  
Vicky Manthou
Keyword(s):  
Web Services ◽  
Conceptual Framework ◽  
Business Process ◽  
Process Modeling ◽  
Business Processes ◽  
Organizational Form ◽  
Business Process Modeling ◽  
Virtual Organizations ◽  
Organizational Environments ◽  
Modelling Procedure

Among different approaches in business processes modelling procedure are those in virtual and dynamic organizational environments. In this paper, a conceptual framework for modelling business processes in Virtual Organizations is suggested, by introducing Web Services technology. Web Services can be the business enabler for the new organizational form, which is particularly well suited to meet the demands arising from today’s turbulent changes in the firms’ environment. The proposed framework consists of several steps in a bottom-up approach, aiming to support the modelling and coordination of the complex and shared business processes in the examined environment.

Financial Evaluation and Optimization of Business Processes

2013 ◽  
Vol 4 (2) ◽  
pp. 91-120 ◽  
Author(s):  
Partha B. Sampathkumaran ◽  
Martin Wirsing
Keyword(s):  
Business Process ◽  
Process Modeling ◽  
Business Processes ◽  
Business Process Modeling ◽  
Cost Calculation ◽  
Financial Optimization ◽  
Business Process Modeling Notation ◽  
The Impact ◽  
Structured Approach ◽  
Evaluation Techniques

Designing and optimizing a Business Process based on its financial parameters is a challenging task which requires well defined approaches, actions and recommendations which when implemented lead to tangible and quantifiable results. In this paper the authors consider Business Processes represented through the Business Process Modeling Notation with their Costs evaluated through a pattern based methodology. Using this concept of Cost calculation the authors analyze the effect of different well known best practices on the financial parameters of the process. In this study the authors also evaluate the impact of each task in a process on the overall Cost through Sensitivity Analysis leading to a structured approach to parameter variation to achieve financial optimization. The study briefly introduces the Business Process Modeling Notation, Workflow Patterns, and available Performance Measures Evaluation Techniques and recommends an adaptation of Devils Quadrangle suitable for impact evaluation.

BUSINESS PROCESS MODELING AND WORKFLOW MANAGEMENT

1995 ◽  
Vol 04 (02n03) ◽  
pp. 145-164 ◽  
Author(s):  
VOLKER GRUHN
Keyword(s):  
Business Process ◽  
Process Modeling ◽  
Business Process Management ◽  
Process Management ◽  
Business Processes ◽  
Workflow Management ◽  
Business Process Modeling ◽  
Activity Modeling ◽  
Organization Modeling ◽  
Activity Models

Most of today’s approaches to business process engineering (also called business process management) start from an activity-centered perspective. They describe activities to be carried out within a business process and their relationships, but they usually pay little attention to the objects manipulated within processes. In this article, we discuss an approach to business process modeling, model analysis, and business process enaction (also called workflow management) which is based on data modeling, activity modeling, and organization modeling. In fact, the ℒeu approach to business process management considers data models (describing types of objects to be manipulated in a business process and their relationships), activity models (describing activities to be carried out in a business process), and organization models (describing organizational entities involved in a business process) as separate, but equally important, facets of business processes.

A business process modeling‐based approach to investigate complex processes

2012 ◽  
Vol 18 (1) ◽  
pp. 122-137 ◽  
Author(s):  
Faisal A. Abu Rub ◽  
Ayman A. Issa
Keyword(s):  
Business Process ◽  
Process Modeling ◽  
Business Processes ◽  
Business Process Modeling ◽  
New Techniques ◽  
New Approach ◽  
Content Type ◽  
Complex Processes ◽  
Model Complex

PurposeThe purpose of this paper is to develop a new approach to investigate complex processes, such as software development processes, using business process modeling.Design/methodology/approachThe paper presents an investigation into the use of role activity diagramming (RAD) to model complex processes in the software industry sector, with reference to the process of TestWarehouse as a case study.FindingsSystematic extension and quantitative analysis to RAD models led to the discovery of process bottlenecks, identification of cross functional boundary problems, and focused discussion about automation of processes.Research limitations/implicationsFurther work is required to validate and evaluate the proposed approach using several cases with different application domains and thus generalize the adopted approach.Practical implicationsA new approach has been used successfully to understand and analyze business processes. The tools and techniques that are used to perform the approach are not complicated and do not need much specialist expertise, so the approach is not only oriented toward specialists but also toward organizations' managers and staff.Originality/valueNew techniques have been developed by using process modelling to deepen the understanding and analyzing of complex organizational processes. This research implements a practical investigation which uses a case study to validate the new techniques.

Semantically Enhanced Business Process Modeling Notation

2011 ◽  
pp. 259-275 ◽  
Author(s):  
Witold Abramowicz ◽  
Agata Filipowska ◽  
Monika Kaczmarek ◽  
Tomasz Kaczmarek
Keyword(s):  
Business Process ◽  
Process Modeling ◽  
Process Model ◽  
Process Management ◽  
Business Processes ◽  
Business Process Modeling ◽  
Semantic Web Technologies ◽  
Enterprise Models ◽  
Semantically Enhanced ◽  
Business Process Modeling Notation

Semantic Business Process Management (SBPM) bridges the gap between business and IT by taking advantage of the Semantic Web technologies. The foundation for SBPM is the detailed ontological description of enterprise models. These models encompass also business processes taking place in enterprises. Within this chapter, we show how the process-oriented knowledge may be captured for the needs of SBPM. For this reason, we describe semantically enhanced Business Process Modeling Notation (sBPMN) being a conceptualization of one of the main process modeling notations with the fast growing popularity among the tool vendors, namely BPMN. The sBPMN ontology is based on the BPMN specification and may be used as a serialization format by the BPMN modeling tools, thus, making creation of annotations invisible to users. In this chapter, we also present an example of a process model description.

A Conceptual Framework for Business Process Modeling in Virtual Organizations

2008 ◽  
pp. 244-255
Author(s):  
Dimitris Folinas ◽  
Tania Pavlou ◽  
Bill Karakostas ◽  
Vicky Manthou
Keyword(s):  
Web Services ◽  
Conceptual Framework ◽  
Business Process ◽  
Process Modeling ◽  
Business Processes ◽  
Organizational Form ◽  
Business Process Modeling ◽  
Virtual Organizations ◽  
Organizational Environments ◽  
Modelling Procedure

Among different approaches in business processes modelling procedure are those in virtual and dynamic organizational environments. In this paper, a conceptual framework for modelling business processes in Virtual Organizations is suggested, by introducing Web Services technology. Web Services can be the business enabler for the new organizational form, which is particularly well suited to meet the demands arising from today’s turbulent changes in the firms’ environment. The proposed framework consists of several steps in a bottom-up approach, aiming to support the modelling and coordination of the complex and shared business processes in the examined environment.

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