Business finds that BPM is unavoidable and needs a reasonable explanation to – “What value organizations currently derive from BPM?”
What’s triggers BPM – Business triggers are: growth & innovation, standardization, compliance & safety, mergers & acquisitions, cost reduction, risk management, emerging competition, major business or IT transformations, major systems implementations (e.g. ERP), next generation process automation, or the decision to establish a BPM capability.
BPM is a thing of past, with CEP+BPM; vendors are offering ‘iBPM (Intelligent BPMs)’. Still no surprise that value addition is a primary concern for many. So let’s talk about the values BPM offers –
- Transparency – The approach supports a better understanding of processes, and enables organizations to consider them during managerial decision-making.
- Streamline operations – They allow organizations to streamline operations (efficiency) and can contribute to increased quality of products, services and processes.
- Improved internal integration (for example, by driving the creation of employee centered processes) and external networking via tighter supply chains and an increased focus on the environmental implications of corporate operations.
- Agility and Predictability – BPM initiatives are essential in ensuring predictability and consistency (Compliance) as much as facilitating increased organizational agility.
- Visibility – BPM gives visibility of what is going on inside business processes in real-time. This means better visibility of business environment metrics and the integrated value chain, which includes forecast, supply, production, distribution, sales, invoicing, and customer service. This visibility enables us to monitor the KPIs and SLAs, and answer a wide range of questions, such as: – How many new accounts were opened during this particular time?Are we performing above or below the KPI?Which region is selling more?Which process is causing a bottleneck, how many transactions are blocked in and how much money do they represent?How many claims were received and how many have been resolved? How many loans are waiting for approval and how many were rejected?
- KPI and SLA driven business – BPM also allows managers to drive the business based on KPIs and SLAs. For example, in loan processing there are usually a lot of manual and paper-based activities. BPM replaces paper with electronic forms or scanned images that are automatically routed through the process. So if the marketing department launches a campaign promising loan approval in one day, BPM can automate that process and ensure adherence with SLAs.
- Optimizing business performance – BPM helps companies to drive their business according to specific objectives. BPM would enable the loan company to follow and manage each loan application in real-time through the whole approval process. Managers would be able to identify the products and the business units which are performing well, helping them to take better and faster decisions in order to increase business performance according to KPIs and SLAs.
Who don’t want its business to –
- Identify high-impact opportunities
- Define the best approach to exploit these opportunities (business + technology)
- Implement solutions and continuous improvement
- Implement change management and self-sufficiency.
Who can offer this? – BPM