All businesses have processes whether they are to undertake a credit card request, a loan, a student enrollment, or simply to get an employee on board. Whatever the process, there are different people, regulations, and systems involved in it. And as the businesses grow, there are chances of those processes getting bigger as well and if not handled properly, can lead to a drop in efficiency and productivity.
Why should processes be optimized?
In a traditional work setup, there are vertical areas that define the structure of a particular business. These structures primarily enable us to differentiate between people and their work. Normally each area seeks to achieve its objectives. The problem occurs when the people working within their respective areas tend to lose sight of what they are supposed to do. They might end up duplicating each other’s efforts or causing a mistake that might affect the business adversely.
Here are some important questions about these traditional views:
- Are the processes being followed?
- Are the business rules being followed?
- Are timelines being met?
- Is it easy to monitor process performance?
When organizations give more importance to vertical areas of the process, barriers are created as each area has a partial view since they only understand the actions performed by themselves. The specific objectives related to each area tend to become more important than the overall objective. The indicator measures individual objectives but fails to measure the overall operations of the organization. Therefore, decisions are more naturally oriented toward serving individual problems.
When an organization is oriented towards processes, its operation is centered around those processes. In such a case, the management is expected to handle the processes. There are process owners of the respective areas that are responsible for the synergy between different individuals to deliver the final result. Therefore, process owners make decisions to achieve the overall objectives of an organization.
The Business Process Management difference
Gartner defines business process management as:
“The discipline of managing processes (rather than tasks) as the means for improving business performance outcomes and operational agility. Processes span organizational boundaries, linking together people, information flows, systems, and other assets to create and deliver value to customers and constituents.”
In other words, BPM is a methodology that follows the set of phases and steps that we go through to take a look at the process and figure out how to make it more efficient and better. It helps us formalize the process(es) by establishing the way we should follow and do it. It gives us the leverage to analyze and use tools to look at ways in which other inefficiencies can be streamlined as per the requirement.
It revolves around 5 main processes or steps:
- DESIGNING – It breaks the process into multiple tasks & encompasses the identification of the existing processes and new processes to be added.
- MODELLING – It takes the existing process and fixes the details to represent the process in a visual layout.
- EXECUTION – It enacts the process in small groups and then to large workforces.
- MONITORING – It keeps an eye on the process as it runs through the workflow.
- OPTIMIZATION –It optimizes the workflow by making changes that need to be done for making the workflow more efficient.
By opting for BPM services, enterprises gain good control of chaotic and tricky processes. It also helps to create, map, and analyze the processes to run everyday operations more efficiently. It even helps to realize bigger organizational goals and to achieve them in a phased manner.
The key to modernization: Business Process Management Systems
BPM Platforms provide the user with a framework and all the necessary tools for managing the specific tasks and the workflow in the process which is related to people or systems.
The BPM Platform generally includes –
- A Process Builder – It designs and manages a series of tasks that constitute a process.
- A Process Engine – Manages the coordination and execution of tasks.
- Tools – Manages the manual fed or automatic fed data which is critical to the execution of the process.
- A Reporting Engine – Monitors and audits activities and performances of tasks
BPM Platforms can be cloud-based or premise installation types depending on the security needs and preferences of the organization.
These BPM Platforms help the organization or any individual area/department in cost reduction and improved employee satisfaction. It does so by providing the process definition, automation, deployment, and auditing for areas in the organization.
BPMS (Business Process Management System) comes in handy where organizations want to increase productivity and enhance the process’s efficiency. With the right BPMS, one can eliminate manual steps to reduce the rate of error and accelerate the processes which drive cost reduction. BPMS Lets you save both time and money by introducing exceptional consistency, visibility, and agility of the running processes. The System empowers you with quick issue tracking and resolving, refining the processes, and helps build upon tested practices to plan the workflow and keep it on track.
With an Efficient BPMS you can:
- Primarily, increase efficiency by automating the execution and orchestrating the steps involved in the process.
- Secondly, enhance transparency by monitoring the process performance/execution and take action on information based on real-time analytics data.
- Thirdly, improve quality, and avoid errors by empowering employees to follow more standardized and efficient processes that drive cost reduction.
- Fourthly, manage changes with high accuracy and agility, it allows the process changes to be quick and also make the business rules more flexible.
- And lastly, resolve issues by rerouting the tasks to different locations and adding temporary resources, and creating alternative processes.
Read more on factors to consider when choosing a BPM platform
iBPMS: There’s more to it than meets the eye
BPMS is – as of now – an extraordinary arrangement. However, iBPMS (Intelligent Business Management System) takes it a stride further with AI, distributed computing, ongoing dynamic, framework connecting, and occasion preparing. iBPMS consolidates business to measure the executives (BPM) with man-made consciousness (AI) to make dynamic, start to finish, work process encounters rapidly through a cloud-based stage and low-code devices. Indeed, iBPMS can connect individuals, machines, and the Internet of Things (IoT) to guarantee both help and insight for repeatable, association explicit cycles. It is intended to help esteem added information work. Truth be told, Gartner presented the idea to the world in 2012. From that point forward, organizations have been considering iBPMS the future for groundbreaking associations.
How iBPMS is modernizing businesses?
As the world is moving faster than we can think, in this D&A age where all the tasks and operations are going paperless and digital, organizations are leaping ahead with iBPMS or Intelligent Business Management Systems.
As per Gartner, 60% of all BPM suites sold in 2012 were iBPM suites. IT offices can be more beneficial by conveying BPM extends immediately. Administrators can work all the more effectively with the dynamic case and the executives and partners get expanded visibility and ensuing control of business measures.
Consider iBPMS as the development of BPM. It is taking conventional BPM programming and intertwining it with the prescient examination, measure insight, and other new advancements. It is the thing that contemporary organizations need to guarantee hierarchical cycle effectiveness. To modernize current businesses, iBPMS stands out as the most promising solution. Here are a few more benefits of implementing it:
- Superior integration with other tools
- Advanced analytics
- User-friendly low-code tools for citizen developers
- Complex event processing, optimization, monitoring, and management.
- Cloud-based tools
- Ability to integrate with the Internet of Things (IoT
- Continuous process improvement (CPI)
- Cost reduction and process optimization
- Generates substantial ROI in the long run
Intelligent Business Process Management Systems are gaining traction as one of the most promising tools for modernizing businesses and aiding digital transformation. So, if you haven’t started out yet, now is the time to move on from the conventional and incorporate iBPMS as part of your businesses.
Having a trusted BPM services company can accelerate the process of implementing an iBPMS. Vuram is a hyperautomation services company that is equipped with all the tools required to help enterprises on their digital transformation journey. Leveraging 9+ years of delivering BPM services with a 100% customer success rate, Vuram helps bring in more optimized, efficient, and organized workflows to improve enterprise outcomes and agility.