Allied Irish Banks (AIB) has introduced an activity-based management tool in its money transmission and lending operation in order to gain a better insight into businesses processes within the department.
The Irish bank - which has 47 outlets throughout the UK - is analysing staff activities such as the processing of cheques and handling of personal loan applications.
Using Activity Analysis software from ALG Software, the bank can track a variety of direct, indirect, fixed, variable and allocated costs arising at every stage of a targeted process, and then look at the viability and efficiency of alternative approaches to the same task.
Anne McComish, senior accountant at AIB, said the deployment of the software followed a successful trial in the bank's central finance and leasing department.
She said the pilot project had resulted in people seeing that the finance department helps to manage the overall business rather than just reporting on its financial status.
According to McComish, Activity Analysis has already identified a number of business processes that have benefited from re-engineering, which she said had justified the bank's investment in the software.
McComish said the next logical step for the bank would be to deploy the software to help it capture all of the information about activities conducted by the teller, the call centre and the back office.
"This will provide a unified view of the cost of running our business, giving us advanced intelligence about our business and the ability to make more informed decisions," she said.