Each day presents a new set of challenges and risks for companies operating in a fast-changing marketplace. Market pressures and changing business needs demand a fundamental shift in the way companies approach business processes. They must streamline these processes in order to quickly respond to changing market conditions.
Processes drive business agility, but most companies continue seeking out methods that can maximize productivity and leverage technology investments before they invest in effective ways to manage and optimize their business processes.
A business process is a set of linked steps or activities that taken together, result in a specific business outcome, either internal or external to the organization.
Documenting and automating business processes involve describing what is done, why it is done, how it is done, who (system or people) does it, as well as how well it is done. Organizations are increasingly flooded with information and informal processes based on people knowledge. These informal processes can often be very risky and expensive for companies, since employees take their knowledge and experience with them as they change jobs. However, efforts to formalize and manage informal business processes can be challenging, since processes extend across departments and IT systems running in multiple, disconnected sources.
Business Process Management [BPM] is the key to meeting these challenges and creating highly efficient and responsive business processes. BPM is a type of management discipline that integrates people, content and enterprise applications by combining a process-centric and cross-functional approach.
Business Process Management solutions provide the tools that help make business processes explicit while providing the functionalities to help business managers control and change both manual and automated workflows. BPM also offers the following benefits:
Enhanced organizational agility efficiency;
- Supports the personnel efforts to drive process change and rapid innovation;
- Increases customer retention by providing customers better access to resources and information;
Reduces cycle times through process optimization;
- Improves regulatory compliance, lowering the risk of errors with manual processes;
- Lowers Total Cost of Ownership by connecting users and applications within a unified business process management environment;
Accelerates responsiveness to business or transaction events with repeatable and automated processes;
- Delivers immediate and impressive ROI.
A comprehensive Business Process Management solution supports all iterative stages of the BPM lifecycle by offering a number of innovative technologies that allow you to define, model, simulate, deploy, execute, monitor, analyze, and optimize your organization’s business processes toward the goal of improving agility and operational performance.