Business Process Management [BPM] – What is it and why is it important
In the global business industry’s leap towards digital, a lot of processes and functions that were merely considered a matter of choice have become a prime requisite for enterprises of all sizes and from all industries. As automation started taking a toll, certain processes became part and parcel of core operational management. Likewise, in the constant pursuit of improvement and optimization of operations, business process management has become an on-going function to streamline and leverage an enterprise’s digital transformation initiatives.
Continuing with our series of blogs on business process modeling (BPM), next up, we will seek to develop a theoretical understanding of business process management and how it contributes to business process improvement, and ultimately, the digital transformation in the broader scope.
So, let’s delve into the basics first.
Business Process Management – understanding the concept
Techopedia defines Business Process Management as:
Business process management (BPM) is a concept that focuses on aligning all organizational elements to improve operational performance. The BPM strategy is categorized with holistic management approaches which are used to develop better business efficiency, while channeling organizations toward more creative, flexible and technologically-integrated systems.
In the simplest connotations, business process management is about tracking, monitoring and optimizing business tasks, functions, and procedures and bringing about constant improvements. In addition to that, it also makes it convenient for enterprises to identify redundancies from processes and elevate them to deliver to a higher level of performance and efficiency. Moreover, it allows enterprises to respond quickly to changes and provides solutions to the challenges facing businesses in their routine operations.
While business process management (BPM) is often perceived as similar to business process improvement (BMI) and business process reengineering (BMR), what differentiates it from the latter is that it is an on-going process of re-evaluation, improvement, and optimization rather than a one-time, one-off task.
Business Process Management and the Digital Transformation of an Enterprise
- Streamlined Operations
The whole premise of business process management revolves around streamlining processes and elevating them to deliver optimum performance and efficiency. Business process management runs a thorough check and inspection of everyday business processes and tests them on the parameters of performance, efficiency, and profitability. This thorough analysis helps enterprises in identifying areas that can be scaled and optimized, and bring about constant improvement.
- Optimum Productivity
In the process of eliminating redundancies, business process management aligns processes and operations for optimum productivity. Not just that, it also maximizes profitability by eliminating slam dunk costs, resource wastage and loss from business processes, thereby delivering value in pursuit of an enterprise’s strategic goals and objectives.
- Increased Agility
Change never comes easy and has certain opportunity costs attached. This is particularly true, even more so, in the context of an enterprise’s digital transformation initiatives. Business process management paves the way for more agility in the organizational fabric, thereby allowing strategic changes in tasks and processes, without any disruption and ensuring a seamless transition.
Since business process management is driven by the core objective of measuring and evaluating efficiency, it quantifies all of the tasks, procedures, and operations. This keeps intangible factors such as quality and efficiency of a process in check, improves them over time, and identifies potential areas for optimization and improvements.
- Better Risk and Crisis Management
To err is human, but to mitigate and prevent – that’s what BPM does when it comes to risk mitigation and crisis control. Risks are inevitable. No matter how efficient and fool-proof is your monitoring and control, there is always a chance of an error that may wreak havoc and disrupt the course of operations.
At Infowise, we are serving as a strategic partner, assisting public and private enterprises in their digital transformation endeavors with our scalable, smart and futuristic tools, software and applications. Our product Infowise UltimateForms Power Suite contains more than 15 standalone SharePoint applications developed to give you the power to innovate, automate and scale up your processes. Our products have been designed for optimum interoperability and seamless integration within SharePoint. Altogether, they constitute the structural foundation for digitization and facilitate your transition to digital transformation.
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