A lot of this is software catching up to the logistics that is now possible due to the improvements in data infrastructure. External calls were the first to be consolidated. Everyone has sat on hold waiting for the next available.....
Internal is also being reengineered. Since moving to “paperless”, a worker doesn’t need to physically sit at the same location. You will no longer see one administrative person assigned to support all aspects of four superiors. The “boss” will now send and receive support from the “system”. Travel, billing, invoicing, legal review, setting up a 300 person conference goes into the “system “. Electron approvals allow the task to be completed. The employee doing the work was the “next available”. Houston becomes a code not a location where the administrative person sits. No longer will you see a person doing “busy work “ on a slow day. A new task from Philadelphia or San Diego will pop up being assigned. Get to work. The net result is thousands of hours are captured and turned into production.
JPM and all large businesses will drive down costs taking advantage of new ways of doing business