Described in broad terms, Business Process Management, or BPM, is a management philosophy that focuses on understanding and optimizing business processes. To break it down further, BPM helps companies reduce human error and miscommunication and focus stakeholders on the requirements of their roles.
Companies typically combine a BPM management approach with BPM software to improve workplace productivity, reduce costs, and anticipate changing market demands. Even a basic investment in a BPM software suite can yield significant returns. Here’s a summary of the four key benefits of BPM:
Workforce Productivity: Business Process Management streamlines operations and automates processes, but that’s just the beginning. BPM suites like @Appian go far beyond improving efficiency, allowing you to build in rules, notifications and triggers that reduce process errors. The system helps companies optimize workflows, identify bottlenecks, speed up approvals and even improve quality.
Cost Reduction: Improved workplace productivity also reduces costs. BPM suites monitor day-to-day business processes for continuous improvement and efficiency, helping companies speed decision-making, increase product output and quality, accelerate cycle time and gain incremental revenue.
Compliance: BPM products like @intalio help companies standardize business processes, make more efficient use of services and systems across an entire organization while also ensuring compliance with policies and regulations. What’s more, BPM also logs every step of a running process, simplifying record keeping and auditing.
Agility: Perhaps the most important benefit, BPM helps companies adapt and respond quickly to a rapidly changing market. Software programs like @Cordys BPMS support a continuous process improvement cycle, enabling organizations to adopt and embrace change and at the same time stay in control. Such programs help you build in intelligent rules to ensure your business processes will adapt automatically to changes in the business environment. In today’s competitive marketplace, this ability to anticipate changes and shift gears is critical for success.