Blast Past the Competition with BPM
Business Process Management is designed to provide firms with information.
Managers and stakeholders use the info to can make smarter, better business decisions. Some decisions require consistent human input, but with BPM, many can be automated for consistency.
When decisions are automatic, they follow a strict set of rules (comprised by a worker) that align with organizational objectives. You’re able to see these decisions and processes in action. And when processes need to be adjusted, it’s possible to do it in real-time: negating the effects of threats with reactivity.
We know decisions need to be effective. But they also need to be made with financial needs in mind.
Decisions benefit the bottom line
Every decision in business, even before BPM is integrated, affects a company’s bottom line. Each decision should answer the question, “How will it make us money? Or reduce expenses?”
Unfortunately, enterprises make decisions without understanding how to qualify the results monetarily. BPM helps by showcasing how decisions can minimize time and maximize (the effect of the) resources. The goal is to make every decision, no matter how tiny, based on the bigger picture for the company.
When you upgrade technology, what is the purpose? To make a process agile? To answer problems in real-time? To prevent crashes that overload a system? These are the short-term goal for the upgrade. The long term reason is still financial.
To be more agile means to be more responsive. And by becoming more responsive, you can respond to inquiries quicker. Or troubleshoot issues faster. The company becomes more accessible to customers as a result. That makes them happy. And happy customers are easier to turn into repeat buyers.
The same thought process can be allied to answering problems in real-time. Customers don’t want to wait hours to have a simple problem solved. They want solutions right away.
If they can’t find answers from you, they will look elsewhere. Similarly, employees will be less productive if technological complications aren’t addressed swiftly. If they can’t work, the company can’t make money.
Decisions are opportunities. But just as any opportunity, if the business isn’t prepared, the benefits slip away. This is why BPM offers companies the potential to follow agile methodologies and grasp advantages faster than the competition.
Don’t deny the need for change
Change is a necessity for BPM to benefit firms. But we’re often not fans of doing it.
Unless it’s clear how the company will see financial benefits from it. It also works the opposite; businesses incorporate change when they see what they’re missing out on.
Smart companies act fast because they know the advantages they pass up, the competition will lunge for. They prosper; your company feels the negative impact of loss.
Markets are open. Companies don’t own every section of it. You will experience competition. The more viable the market, the more the competitors will flock to it. If you sit still for too long, you will lose.
But by implementing new technologies and methodologies with BPM, you’ll experience productivity. Better decision making. And the ability to blast past everyone around you.