What is Business Process Management and how can it help you?
In a dynamic and competitive age, businesses find themselves at an inflection point. They’re left with only two choices: reinvent or lose out. And this means, their business processes needs to extend beyond its fragmented functions and enter into the very core of strategy, business models, infrastructure, customer experiences and products. This is where Business Process Management steps in. A concept that was once restricted to geeksville and was casually thrown around as a corporate buzzword has now entered the boardrooms of organizations that are striving to grow agile and stay on top of the changing consumer dynamics. Today, an increasing number of companies are embracing BPM and it’s high time they did. It is not long before we see BPM methods implemented across every business in every industry.
What is BPM?
First, let’s take a step back and understand what BPM is.
The BPM Institute describes BPM as:
“The definition, improvement, and management of a firm’s end-to-end enterprise business processes in order to achieve three outcomes crucial to a performance-based, customer-driven firm: 1) clarity on strategic direction, 2) alignment of the firm’s resources, and 3) increased discipline in daily operations.”
To put it simply, BPM streamlines business processes and workflows to make them leaner, more effective, efficient and adaptable.
Let’s give you a relatable example so you understand how BPM works in real life. Take a moment to reflect on your organization’s onboarding process. Is it too complex? Too sophisticated? Perhaps, time-consuming? Does the HR department ask the candidates to fill out endless paper forms, out of which data is then picked out and sorted? If so, there’s a clear lack of a BPM system in place. When companies are small, just about everyone tries to make a newbie feel welcome. But when it grows, the HR rarely has the time to take the new hire through every step manually. It’s far too likely to miss out on something crucial. Automation solves it, taking away a manual chunk of the labour, and allowing the process workflow to run smoothly without constant follow ups.
Why do you need it?
The question is not why you need it, rather why you don’t have it already. Yes, you may rely heavily on the old staples – Excel sheets, Google Docs, Email or even sticky notes – and believe that the way you work is perfectly fine. However, despite the whole illusion of ‘order’ in an organization, when you scan out the end-to-end processes in-depth, you’ll realize that they’re largely disarrayed, unorganized and unsystematic. When left that way, what follows is sheer chaos. Wasted time, inefficient productivity, error-prone work, lack of data, unmotivated workforce – these are just a few ways unmanaged business processes can hurt your business.
Applying business process management is the key to weeding out potential bottlenecks, improve business processes and ensure optimal running of business operations.
The BPM Lifecycle: Explained
Design, Modeling, Execution, Monitoring and Optimization cover the entire span of the BPM lifecycle. It starts with designing a new process or relooking the existing ones to come up with a more refined design, then modeling it to fit the current business problems, executing it with the aid of BPM software and tools, followed by constant monitoring and optimization to arrive at a solid BPM strategy. When done right, BPM can significantly boost work efficiency, employee productivity, cut down costs, and allow you room to focus on the core of your business growth and expansion.
The next wave of BPM Revolution:
Today, the remarkable progress on the technological front is driving the next wave of BPM transformation. New and innovative technologies are starting to disrupt the status quo and shifting the gears from the ordinary to extraordinary. With vast potential in helping enterprises realize their business goals and making them future-ready, BPM and technological innovation continue to be the dynamic duo that can offer the competitive advantage that is a must to survive and thrive in the digital age.
From bots entering process automation to the advent of Artificial Intelligence to no-code/low-code BPM systems that allow businesses to be agile in the face of an ever-changing business landscape, the BPM space is evolving, and it’s evolving faster than you can comprehend. It’s time you made the best out of it, and made it a part of your business’ operations.
BPM allows infinite scalability, speed, agility and efficiency – the mandates necessary to operate in a hyper-competitive and dynamic world. How well do you score on these parameters? Let Vuram guide the transition from a C to an A+. Talk to us today! firstname.lastname@example.org