Business Process Management (BPM) can transform and innovate your business. BPM is not easy to define. Depending on who you converse with, and the role he/she has, is the BPM perspective you will get.
BPM for some is about technology, application development and ways to reach process automation. BPM for others is all about optimizing a system or a decision to be as functional and effective as possible. BPM could also be a major communication tool within an organization, to facilitate task discussion and change if necessary. BPM also serves as a method to see how your organization is actually functioning.
What is Business Process Management (BPM) actually?
These are just some of many BPM definitions. None of the definitions mentioned above are wrong. They are merely narrow perspective of BPM since all of the definitions are actually just parts of BPM as a whole. To achieve all potential benefits from BPM, organizations need to be educated to avoid creating limits within BPM.
Thus, BPM should be defined including aspects mentioned above. Also, BPM should have an objective that is compressive and business-oriented. BPM is a discipline driven by business outcomes optimization.
BPM delivers a range of services to benefit one’s organization. Using BPM, your organization can match customer needs with business functions and help management in determining how many of company’s resources to use. Benefits of BPM can be felt in the improvement of productivity and efficiency, costs reduction, error and risk minimization. All of these lead to result optimization. BPM provides an organization with tools to assess the financial soundness of the tasks and it shows how the organization is working towards its goals.
Tangible benefits of Business Process Management (BPM)
Business Process Management (BPM) has shown to benefit in revenue growth, managing risks and reducing costs, improvements in productivity and customer satisfaction, all while giving a business a competitive advantage by increasing innovation and encouraging business growth and transformation.
Investing in IT is highly important and BPM can greatly help in this. IT budgets should be spent to yield tangible and quality results. The more businesses are investing; the more value should be received from their investment.
Why choose Business Process Management (BPM)?
If you look at today’s market, it has become extremely competitive for almost any type of business. Some of the reasons behind this might be globalization, decreased market economy strength, and reduced market entry barriers which, in turn, increase competition. This means that an organization need to compete and fight harder for the market share.
BPM has shown to deliver multiple benefits in today’s environment that yield positive and tangible business results. BPM tends to organize the business towards their main goal in becoming more innovative and transformative. Also, BPM allows the business to keep up to date with most recent technology and business advances. Business Process Management became a mission oriented business tool to help any organization reach its full potential. Investing in BPM means investing in future business value and increased market presence.
Fiona Fiorella is an experienced writer and blogger on business topics, and she is currently working with JobTraQ, the Lean BPM pioneer.