E-finance-lab at the House of Finance : about us

The financial services industry is believed to be on the verge of a dramatic [r]evolution. A substantial redesign of its value chains aimed at reducing costs, providing more efficient and flexible services and enabling new products and revenue streams is imminent. But there seems to be no clear migration path nor goal which can cast light on the question where the finance industry and its various players will be and should be in a decade from now. The mission of the E-Finance Lab is the development and application of research methodologies in the financial industry that promote and assess how business strategies and structures are shared and supported by strategies and structures of information systems. Important challenges include the design of smart production infrastructures, the development and evaluation of advantageous sourcing strategies and smart selling concepts to enable new revenue streams for financial service providers in the future. Overall, our goal is to contribute methods and views to the realignment of the E-Finance value chain. ..

Elastic Business Process Management: State of the Art and Open Challenges for BPM in the Cloud

With the advent of cloud computing, organizations are nowadays able to react rapidly to changing demands for computational resources. Not only individual applications can be hosted on virtual cloud infrastructures, but also complete business processes. This allows the realization of so-called elastic processes, i.e., processes which are carried out using elastic cloud resources. Despite the manifold benefits of elastic processes, there is still a lack of solutions supporting them. In this paper, we identify the state of the art of elastic Business Process Management with a focus on infrastructural challenges. We conceptualize an architecture for an elastic Business Process Management System and discuss existing work on scheduling, resource allocation, monitoring, decentralized coordination, and state management for elastic processes. Furthermore, we present two representative elastic Business Process Management Systems which are intended to counter these challenges. Based on our findings, we identify open issues and outline possible research directions for the realization of elastic processes and elastic Business Process Management.Comment: Please cite as: S. Schulte, C. Janiesch, S. Venugopal, I. Weber, and P. Hoenisch (2015). Elastic Business Process Management: State of the Art and Open Challenges for BPM in the Cloud. Future Generation Computer Systems, Volume NN, Number N, NN-NN., http://dx.doi.org/10.1016/j.future.2014.09.00