- September 3, 2014
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Effective benchmarking requires common definitions and processes. Like a shared language, organizations need to make apples-to-apples comparisons to obtain accurate benchmarks and metrics. The original Process Classification Framework (PCF)SM as a common language and open standard to allow organizations to see and discuss their activities from an industry-neutral viewpoint.
While cross-industry content is valuable, APQC recognizes that for some industries it is more difficult to apply, and nuances in processes may occur by industry. As a result, APQC releases industry-specific frameworks to enable faster, more relevant use and comparisons. IBM provided the subject matter expertise and intellectual property to develop and donate these industry PCFs in support of open standards. This is the revised version of the Banking PCF and was released in 2014. The Banking PCF restructures the cross-industry PCF taxonomy to include categories of processes relevant to banking organizations.