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Title: Cost Benefit Analysis of Re-Engineering the Business Process in Nigerian Banks
Authors: Needorn Richard; Thank God C. Agwor
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Keywords: Cost; Benefit; Re-Engineering; Business Process; Nigerian Banks
Abstract:This paper focused on analyzing the costs and benefits of Business Process Reengineering (BPR) in Nigeria drawing on a sample of ten (10) banks in Port Harcourt. The paper was intended to ascertain the worthiness of BPR projects in the banks. Two research questions (what are the benefits of BPR? and what are the costs of BPR?) and one hypothesis (there is no significant difference between the benefits and costs of BPR), guided the study. The result showed that there is a significant and positive difference between the benefits and costs of BPR. Consequently, it was concluded that BPR is a worthwhile exercise in Nigerian banks since the findings showed that the benefits outweighed the costs. Based on this, it was recommended that: BPR should never be carried out for the mere sake of it rather, it should be preceded by strategic planning, which addresses leveraging IT as a competitive tool; such an exercise should place the customer at the center of the re-engineering effort. This can be achieved by concentrating on re-engineering fragmented processes that impact negatively on customer service; for a successful BPR, there must be recourse to corporate culture while constant communication and feedback should not be ignored; to achieve maximum result from a BPR, it must be effort of the organization members and not that driven by a group of outside consultants or sections of the organization; a specific time frame between three to six months should be designated for any BPR proj