Business process management adoption by custody and share registrars in Kenya

Abstract

Over the past decades, Business Process Management (BPM) has become a vital methodology or strategy to drive business management agilely. It is one of the approaches that can make the organization achieve effectiveness and efficiencies through creating and improving its business processes according to its business strategies, objectives, and requirements. When organizations embark on BPM projects, unnecessary non-value adding activities are eliminated, and core activities are improved in order to achieve higher levels of process efficiency and effectiveness. This outcome is achieved by optimizing a number of factors, such as decreasing time and/or cost of processes, increasing quality of processes or improving allocation of resources, while being attentive to the expectations of external stakeholders. The objectives of this study were to determine the extent of BPM adoption by Custody and Share Registrars in Kenya and to investigate the factors affecting BPM adoption by Custody and share registrars in Kenya. The target populations of this study were management staffs in Custody and Shares Registrars. This study employed a descriptive research design and relied mostly on primary data sources. The study generated both qualitative and quantitative data where quantitative data was coded and entered into Statistical Packages for Social Scientists (SPSS) and analyzed using descriptive statistics. Basing on the study findings, the study concluded that that organizations review their set strategies in order to enhance business process management practices within departments. The study also concluded that organizations have embraced IT as a means of emphasizing Business Process Improvement (BPI) practices to a very great extent. Further, the study concluded that Custody and Shares Registrars staffs are empowered to contribute towards initiatives through coaching and communication. On organizational culture, the study concluded that existing cultural orientations are not supportive of the mission and success of the firm in process improvement. Likewise, the study concluded that IT plays a key role in achieving an organization's objectives and enhances risk mitigation to a great extent. The study concluded that money, rewards and other gifts are important for encouraging competitiveness in the organization.