What is Business Process Management?
Business Process Management is an important aspect of developing a business strategy that is essential for organizational success. Business Process Management, also known as BPM, is a discipline that uses a variety of approaches to analyze, improve, optimize and execute business processes. In a nutshell, any method used to execute the company’s business strategy is classified as BPM. BPM can be rigid or flexible depending on the organizational culture and strategy of the company.
Difference between BPM and Program Management
Business Process Management and Program Management may have some similarities, but they are not the same. Program Management is concerned with managing projects that are interrelated and interdependent. It has a limited scope. BPM, on the other hand, is all-encompassing and includes Program Management. Managers use BPM repeatedly to improve project outcomes and to ensure that goals are met with allocated resources.
Another key difference between the two is the predictability and reproducibility of the methods used. In Business Process Management, projects can differ in unique structures and sequences, but rules, conditions and outcomes are predictable. Managers consider BPM as an asset to a business organization, not just a concept. This approach needs to be mastered, evaluated and managed in order to deliver a value-added service or product that satisfies the needs of the customer. The ultimate goal of BPM is, above all, to meet the customer expectations.
Goals of Business Process Management
The goals of Business Process Management includes:
— Information gathering and analysis. To make the right decisions, managers need accurate data. One of the goals of BPM is to gather and analyze data for easy access when needed.
— Information synchronization. The way the data is disseminated is just as important as the quality of the data in question. BPM ensures that the right information passes through appropriate channels.
— Customized models. Each project is unique, but the ultimate goal is to achieve the desired outcome. Managers use BPM to customize business models unique to each project.
— Track and fix inefficiencies. If there is a weakness that may lead to inefficiency or waste, BPM aims to identify the loopholes.
— Monitor changes. Every change made to the business process has a corresponding effect. BPM is designed to enforce new changes while monitoring the impact of changes.
Benefits of Business Process Management
If you are a business manager, deploying an effective Business Process Management framework can improve productivity and help you achieve desired outcomes. Here are some of the benefits of adopting Business Process Management.
— Aid innovation. To achieve success repeatedly, you need to constantly improve. BPM helps to improve your decision making, research and development, and best practices. Rather than maintaining a reactive ideology, BPM makes managers more proactive. By constantly improving your product, your business will remain competitive and profitable.
— Customer satisfaction. The ultimate goal of any business is to make a profit, and this is only possible if your product can meet the needs of the customer. An efficient business process translates into better goods and services that customers will be willing to pay for. High-quality products lead to happy and satisfied customers.
— Employee efficiency. By constantly evaluating the business process and the performance of the staff, employees will remain on their toes. Requesting regular feedback from employees is ideal as they closely interact with the customers. BPM ensures that employees constantly improve the level of competences. It also motivates them to achieve their goals using available resources.
Business Process Management is a concept designed to maximize the potential outcomes of a business enterprise. It inspires regular feedback and improvement in an ever-changing business environment.