Industry 4.0, Business Process Management, and Lean Six Sigma for Achieving Business Excellence through Operational Excellence

Abstract

Background: Asset management organizations have integrated new technologies before, but this trend is expected to reach its peak in the coming years.  Investors using technical instruments buy financial products from asset management companies (AMCs). Thus, AMC is working diligently to enhance its operations and processes, enabling investors to have seamless transaction experiences across its various platforms through simplified procedures and efficient management. Objectives: This study examines the performance drivers of AMCs, more specifically, how fundamental components contribute to business excellence by improving firm procedures and operations and creating new investor experiences. Methods/Approach:  The report uses data from 387 asset management professionals from 10 businesses. In India, 10 prominent AMCs provided 387 valid replies to a work survey. The analysis was conducted using PLS-SEM. Results: The findings indicate that Industry 4.0, business process management, and Lean Six Sigma facilitate operational excellence and are key drivers of achieving business excellence in asset management firms in India. Conclusions: Organizations can achieve business excellence by applying concepts from Industry 4.0, business process management, Lean Six Sigma, and operational excellence. This is among the few empirical studies examining the enablers of business excellence in Indian AMCs.