In today’s competitive environment, businesses must continuously improve their processes. Failure to do so is likely to result in higher costs, lower revenues, less motivated employees and fewer satisfied customers.
Business Process Management (BPM) is a powerful tool to keep all aspects of operations running optimally. For those considering investing in it to drive process improvement, here’s a brief overview of why an organization needs business process management.
What is BPM?
Business Process Management is a discipline that improves corporate performance by driving operational efficiency and business agility. Think of a business as an engine and BPM as a tool to fine-tune each component to achieve maximum performance.
What does BPM do?
Within every organization there are common business processes designed to meet specific objectives. However, for any number of reasons some of these processes may be slow, inefficient, unreliable and redundant. A BPM puts all of these processes under fresh scrutiny, using models, metrics and analysis to make evaluations and identify improvements that produce better performance.
What are the main benefits of BPM?
A BPM program enables companies to process more with higher quality, less waste and reduced effort. This is particularly advantageous for startups and companies faced with tight budgets that need to reach profitability quickly.
These benefits can be categorized into three main areas:
Efficiency – One of the first benefits seen upon implementing a BPM program is increased efficiency. Since many processes are wasteful due to a number of factors, shedding a light on these systems helps companies recognize and eliminate these inefficiencies.
Effectiveness – Once a process becomes more efficient, BPM can then make that process more effective. Among the benefits of greater process effectiveness are the ability to handle exceptions faster, make better, more informed decisions, and execute consistently. When all processes are running effectively and are aligned with corporate strategies and objectives, companies become more profitable and competitive.
Agility – The need for organizations to be agile is more critical than ever. In fact, companies whose processes are inflexible to change are going to get left behind. New opportunities may necessitate change in order to capitalize on them. Business partners, customers or even State, Federal and International regulations that may require change.
Thanks to BPM programs, companies have the platform they need to change their existing processes or implement new ones faster, smoother, and more efficiently than they could ever do with any other option. This ability to stay flexible and quickly adapt in the face of changes both foreseen and unexpected is a powerful driver of competitive advantage for every company.
A comprehensive software reporting solution is an important component of your business structure. Spud Software can provide these features, plus so much more. Give us a call today for a free, honest and unconditional discussion and we'll be happy to help however we can.