(BPM) Business Process Management
(BPM) Business Process Management
The term business process management covers how we study, identify, change, monitor, measure, automate business processes, and analyzing a business to ensure they run smoothly and can be improved over time.
BPM software helps organizations define the steps required to carry out a business task, map definitions to existing processes, and then streamline or improve the processes to make them more efficient.
Banks
Business process management (BPM) involves the combination of efficient tools and techniques aimed at making business processes more flexible and effective. Simply put, BPM is all about process improvement. BPM techniques help banks align their operational processes with their business objectives and strategy.
Insurance
We monitor & optimize processes for Insurance companies, agencies & carriers while maintaining their market share & profitability
Telecom
BPM process solutions for telecom service providers help drive higher customer satisfaction, greater operational performance and smart decisions.
The problems is solved by BPM
Poor Project Management
As noted previously, your BPMS can help to clearly establish your business’s processes, further bridging the gap between your business strategy and the projects he is overseeing. Along with this, your project manager will be able to gain better insight into where other team members are at in the business process funnel, making it possible to assess where processes, or maybe even the overarching business strategy, could be more effectively executed.
Poor Communication Around Processes
Once your organization’s processes have been clearly established, the next step is to ensure that those processes have been carried out effectively. That being said, if there isn’t a clear line of communication between employees, your team’s performance may lag just as greatly as if those processes hadn't been established in the first place.
Loss in Revenue Due to Ineffective Processes
Inefficient processes cost most organizations an average of 20 to 30% in revenue per year. That’s a lot of money that could easily be regained through more effective processes.
While acquiring a BPMS certainly isn’t free of charge, using a BPMS to improve or supplement your existing processes may be worth the price. It’s up to you to run the numbers and determine your potential ROI. Generally speaking, however, if the cost of the software is less than the amount of money you’re losing from poor processes, it’s a worthwhile investment.
The Potential for Human Error
When humans are the root of a process-based issue, it’s sometimes best to take the human out of the process: Instead, you can allow a BPMS to automate the processes that people were poorly executing, virtually eliminating the potential for human error altogether. In addition to reducing your chances of acquiring bad data.
BPM Features
Easy Modeling of Processes and Forms
Intuitive graphical modeling of both processes and web forms is one of the most important features a BPM system is expected to have. This feature empowers business users to design and roll out their own processes and forms quickly, without coding.
Project Management Integration
When process and project management are integrated, you have a more powerful BPM solution than you would with separate project and process management platforms. When projects and processes can share data and resources, your team will have an easier time managing end-to-end scenarios like new product development.
Workflow Management
Although BPM and workflow management address the same business needs, each does it in a different manner. Workflow management allows you to coordinate certain repetitive tasks and procedures to save time and do the work more effectively. Workflow focuses on people and instructions, describes the role of each individual involved, and allows you to organize your daily work processes. Workflow management doesn’t necessarily require software, but in practice software tools are used to keep track of the work and to automate parts of it.
Real-time Reports and Analytics
Reports are one of those repetitive yet crucial tasks that you have to do in order to keep track and stay on top of things. Fortunately, with BPM platforms there is a way to get this process completely automated together with accurate, real-time analytics. With KPIs Dashboards you can get valuable insights at a glance, monitor your business performance, and identify bottlenecks.
You should also have the ability to customise the reports, download the reports and carry out analysis as required for process efficiency reviews.