140  Blockchain

QUESTIONNAIRE TO ASSESS MATURITY

OF THE BUSINESS PROCESS

• What is the nature of our business? To know a high level of business

nature and sector, this question is essential in knowing the indus-

try sector, geography and type of business. For instance, a business

can be a hedge fund within the financial sector dealing with capital

markets. Another example can be a business providing technology

services to the healthcare sector or a start-up developing a health-

care product to automate some of the business processes, required

for healthcare records management.

• Does our business interact with multiple internal and external par-

ties? Most of the businesses rely on internal departments or child

companies and also external vendors to provide the services. For

instance, a retail bank under financial industry having a global pres-

ence will have multiple subsidiaries. They will also have multiple

vendors such as telecom providers, stock exchanges, content delivery

service providers, cloud providers, cyber security product vendors

and also consulting services, required to provide services to their

customers.

• What percentage of your business uses digital channels? Due to the

ongoing digitalisation journey for a decade, it is important to know

what percentage of customer journeys, including front, middle and

back offices, has been digitalised or is in the process of digitalisa-

tion. This is the key to shape the strategy and recommendation that

should be part of the future strategy of the company.

• What is the ratio of your budget across run and change? Every com-

pany has a set of budgets to run the business-as-usual activities to

serve existing customers with seamless experience and good cus-

tomer service. The run budget is also required to make sure that the

business is up and running and secure as required and expected by

its customers. This kind of budget is called run budget. Businesses

also have a change budget for any transformational activity like

moving to cloud, automation of the business processes, adopting

innovative technologies and also innovating a product themselves to

have an IP rights. This question is essential to know about any gaps

within the finance model of the company and provide appropriate

recommendations.

• Do you have a business process map of your ‘Important Business

Services (IBS)’ under the operational resilience framework? During

the past decade, we have experienced multiple frauds, financial disas-

ters and now pandemic. Regulators specially within financial markets