The Power Of Business Process Management

In the current global economy, both small and big companies face very stiff competition from each other. This only implies that every type of business is under increased pressure to become and remain competitive by improving business processes, reduce operating costs and increase productivity. It has been proven that many organizations usually struggle to keep their business activities more manageable. It is a common problem to keep up with the competition, and the most excellent possible way to always stay at the edge is to adopt the correct technology for your business processes. Arguably, one of the best ways to enhance your organizational operations is by integrating BPM into your company’s operations.

So what does the term business process management refers to?

Typically, business process management, or simply BPM, is a component of operations management that utilizes various procedures to discover, analyze, model, measure, automate, optimize and enhance business processes. It focuses on boosting corporate performance by overseeing multiple operations within an organization. In its approach, business process management views processes as essential assets of an organization which must be understood, developed and managed to ensure that value-added services as well and products are delivered to clients. Though not necessary, enabling technologies can be, and are usually used with business process management.

As a result of its proven benefits, business process management has become an instrumental methodology to use in times of crisis. When correctly used, it ensures that the business processes in an organization are effective and this will ultimately lead to a better, efficient and reasonably more cost-effective management. BPM is best thought of as a business strategy, encompassing well-structured methods and techniques. It is imperative to note that business process management should be considered a one-time exercise. Preferably, it must involve a continuous evaluation of the processes and incorporate tasks that are intended to improve the overall workflow processes.

For businesses to employ BPM successfully, the following must be involved.

  • Standardizing processes within the enterprise to ensure that they can be easily understood, managed, and errors eliminated and risks mitigated.
  • Creating an all-inclusive environment that supports a continuous change to ensure that improvements can be made, extended and propagated over time.
  • Organizing based on outcomes but not tasks, to make sure that focus is maintained.
  • Correcting and enhancing business processes before they can be automated.
  • The focus should be always to improve the existing business processes, rather than creating radically perfect or new ones. This is because the prospect of building new processes can potentially take so long before bearing any fruit and this may result in the disruption of the previously achieved gains.

So what are the potential benefits of adopting business process management into your business?

There are lots of benefits associated with business process management. The prospect of implementing best practices in business process management is likely to contribute to sound financial management among other benefits. Some of the proven benefits of business process management are:

Increased productivity: BPM usually facilitates the automation of certain repetitive elements within regular workflows. Business activities such as the removal of bottlenecks, the elimination of redundant, the introduction of parallel processing can all be achieved easily through the help of business process management. As you may have guessed, this type of improvement is more likely to allow employees to concentrate on other vital activities. As a result, this will translate into improved productivity and revenue, in general.

Reduced risks and efficiency: Business process management can help an organization to identify its areas of inefficiencies. Perhaps this is because it usually gives companies an opportunity to function efficiently and conserve their resources incredibly. What’s more, BPM usually results in reasonably better-executed, designated, monitored and controlled processes which can potentially help eliminate the risk of fraudulent activities.

It enhances business agility: Even though increased productivity and reduced costs are arguably the two most notable and immediate benefits of BPM, agility is another benefit that surely can’t be ignored. Organizations are faced with the constant need and urge for change. Changes within an organization may become necessary perhaps as a result of new market demands, new rules and regulations or maybe, as a result of the emergence of new working procedures. One critical feature of BPM is facilitating business processes that are flexible. This implies that with it at your disposal, you’ll enjoy the flexibility of making ideal changes in your organization with ease, and with very minimal costs. Simply put, business processes can be customized to suit the needs of your company quite easily.

It helps improve customer satisfaction: There are lots of business process management software which offers a reliable 24/7 customer support. This means that all customer queries can be addressed seamlessly and promptly.

These are just some of the benefits that business process management can bring to any organization. If you have not yet embraced the power of BPM, then it is quite clear that your organization is missing a lot. It is high time you incorporate BPM into your organization.

 

process management

All You Need To Know Regarding BPM

Every functional company has a way of conducting its daily work. However, too many firms depend on outdated procedures that mainly involve lots of paperwork as well as other traditional manual steps. Organizations around the globe have now recognized the importance of incorporating business process management into their daily operations. Embedded business procedures, with process management at the core, not only automates to enhance operational productivity but will also help drive more revenue, growth, enhance compliance, reduce the associated business risks and improve employee and customer interaction. What’s more, a compelling BPM platform can help pull together all pieces of information on whatever given topic from across all business systems in a single place. In so doing, project managers, as well as other concerned decision-makers, are better informed to adopt the most appropriate action in any scenario.

Business process management may be defined as the act of aligning various activities in accordance with a company’s strategic objectives, creating and implementing project architectures as well as equipping project managers with necessary skills, so they are able to manage processes efficiently. Business process management also involves the integration of specific automation processes, such as XML business process languages, workflow systems as well as packed ERP systems to enhance productivity as well as customer satisfaction. In such a scenario, the management team focuses on the ability of workflow systems to regulate business flows, measure processes and instill project managers with adequate management skills to help manage business processes more efficiently.

BPM technology allows organizations to streamline their daily business functions by automating, monitoring, executing business activities from the start to the end. Knowledge-based management, with the help of collaborative tools, allows BPM to leverage information by managing its content and this may facilitate employee satisfaction. On the other hand, integrated analytics play a critical role in enhancing visibility by delivering extensive analytical reports regarding essential business processes.

The benefits offered by business process management are possibly endless. It is critical to mention that these benefits can be beneficial both in the long-term as well as in the short-term. Regarding the potential short-term benefits, BPM may help enhance profitability and productivity in general. On the other hand, the ability to withstand the fierce market competition as well as the agility to make necessary changes are some of the long-term benefits that business may enjoy as a result of embracing the power of business process management.

So what are some of the benefits that business process management offers?

Reduced operational costs: 

The end product of increased productivity as far as BPM is concerned is undoubtedly the reduced expenses. Bearing in mind that BPM will always improve the overall efficiency of a given business by typically streamlining business projects, business owners will eventually end up with a relatively lower output to expense ratio. Simply put, this implies that you’ll realize a more significant production for the same process costs or the same output at a reduced operational cost. In fact, according to a particular study conducted by AIIM, organizations that opt to implement process management usually increase their ROI by nearly forty percent within the first season.

Process consistency:

It is common knowledge that the whole concept of management is usually an ongoing and continuous process. For instance, management cycle is repeated over and over again, and every managerial regime is regarded as a sub-process of the entire administrative process. BPM is arguably the most practical way to ensure that business process becomes a continuous process. Again, process management can foster process standardization; designing the platform for doing things more appropriately. This will also help make your employees more accountable thus leading to transparency.

It enhances compliance:

As always, specific industry regulations and rules must be adhered to by organizations. These rules may involve anything, range from ISO certification, safety issues to financial regulations. By integrating business process management into your organization, you’ll enhance compliance and transparency incredibly. This will equally reduce any potential risk of human error. Finally, this will allow your organization to avoid those vast fines that arise from violating regulations unknowingly.

Measurability:

With BPM at your disposal, you’ll be in an ample position to quantify all the processes within your organization, as a way of evaluating efficiency. Used together with BPM software, process management will enable business firms to regularly assess the efficacy of their business operations, as well as identifying potential problems and improvements.

These are just some of the benefits of BPM. If you have not implemented this handy management tool for your business then probably you are missing a lot. It is high time you start thinking about this! There are lots of companies out there that can help you to learn more about this methodology, implement it and automate and improve your daily business processes.