4 Things You Most Likely Didn’t Know About Business Process Management
You’ve probably heard about Business Process Management (BPM).
It’s a method of digital transformation that uses strategy and tools to streamline processes, facilitate communication, and reduce delays that frustrate customers.
But what about the things you didn’t know — or haven’t been privy to?
We’ve got the answers ready for you.
1. What Business Process Management Really Is
Sounds silly, right? I did just explain it above.
But chances are, you spent a long while unaware of what business process management was. Completing a task in the workplace was just that; task completion. Or using technology to achieve an objective wasn’t anything special — just expected.
Had you considered what comprises a business process? It’s a set of steps utilizing strategy, methodologies, technology, and monitoring of processes. There’s a whole industry devoted to the science of this system.
The strategy is the key to the completion of business objectives. Yet too many companies are stranded using legacy software. Modern tools can complete objectives accurately, productively, and easily. Old technology is left behind.
That’s business process management. Objectives are completed with employees, managers, and customers in mind.
Now, consider asking your neighbor what they think about business process management. They may need clarification… at first.
2. Monitoring is everything.
A company has realized the power of BPM, Operational Decision Management (ODM), and strategy. Everything has been implemented, and results are visible — bottlenecks have been reduced, resources are allocated in cost-effective methods, and processes are working flawlessly.
This is when problems start.
Businesses are dynamic. Needs fluctuate based on team leaders, employees, and customers. For example, introducing a new product may require an overhaul of the billing and inventory system. And while the current business process management tools can work with this, the company may be tossing away money.
Processes shouldn’t be implemented and left to their own devices. They must be regularly monitored to assess whether the desired results are occurring. But monitoring helps improve upon the system. A company could be saving additional costs, eliminating delays, automating repetitive costs, and increase revenue where applicable.
But the only way to see increased savings and productivity is to be monitoring the current system. Otherwise, opportunities are lost.
3. You can be in charge.
Many companies hire outside teams to handle their BPM and ODM systems. These teams take away the headache of managing the technology. They alter rules in applications, monitor process life cycles, and make changes when required.
It makes sense to hire a team who understands a complicated system. But it’s not perfect.
Each time a rule requires updating, adding, or removing, the team must be called in.
Then a time must be arranged. Which days work for you? Because they might not work for the IT team?
Systems may need to go offline while the changes happen. The fee for the change is quite high for their assistance.
And by the end, you’re none the wiser to what was altered or how. You’re left hoping another change won’t be needed for the time being.
Truthfully, the back and forth is a hassle. Waiting for the team to arrive is a hassle. And not understanding the inner workings of the business can lead to issues down the road.
But that can be removed by having your teams trained in the implementation of BPM, ODM, and strategy. The need for that outside IT team is eliminated, expenses are reduced, and the team is empowered with the knowledge that will influence decision-based solutions.
4. Current tools are lacking.
Businesses require flexible systems that can adjust as their needs do. And these systems require technology, to host information, to monitor systems, and streamline businesses.
The problem is, many of the traditional tools available on the market lack essential features for a fully functional BPM and ODM system.
These tools lack quality assurance throughout every step of the business process development. They also require proper simulation and modeling to ensure processes are working correctly.
A company must have means to mitigate risks and penalties. All possible scenarios regarding errors must be accounted for. If you can’t assess risks in BPM, you’re open to mistakes that can harm the creditability of the company.
It’s best to vet the tools you’re using and ensure they’re what your business needs to thrive. Too many companies are settling for the traditional instruments. Despite the lack of innovation.
That’s why we’ve set to fulfill this need with our Capital BPM toolkit — we’ve been in the game for awhile now; we see the frustration on client’s faces, and seek to eliminate stress with new tools fit for every business process.