Benefits of BPM
At first glance, BPM seems to deliver the same major benefit as traditional enterprise application technology like ERP: increased workforce productivity (as a result of streamlining business operations and automating repetitive tasks). BPM suites, however, go far beyond creating efficiency. Knowledge sharing capabilities and a collaborative portal help improve decision-making. Process performance reports help optimize workflows. Notifications and triggers help reduce errors and eliminate waste. And an intelligent rules engine enforces best practices. Thus, BPM suites not only help organizations increase workforce productivity, but they also improve product quality and reduce corporate risk. The result? Within months of deployment, these improvements deliver substantial cost savings to companies.
In addition to decreasing costs, BPM suites also help an organization raise its overall revenues by increasing product output, accelerating cycle time, and improving customer service. Straight-through processing helps accelerate delivery times. Dashboards help prioritize business activities by their influence on sales. Process performance reports help identify bottlenecks and reduce hand-offs. Centralized enterprise knowledge helps speed decision-making. And closed-loop customer feedback processes help track performance. Over time, these enhancements result in a faster time-to-market and an improved company image, which ultimately increases sales and revenues.
While decreased costs and increased revenue are the two most immediate and tangible benefits of business process management, the real value BPM delivers is intangible. In the long run, composite process applications built with BPM suites help organizations become more agile. Intelligent rules ensure that processes adapt automatically to changes in the business environment. Collaborative tools bridge department boundaries while improving and speeding decision-making. And in-flight process modifications accelerate response to change by dynamically rerouting processes in real time. With these capabilities, a company is better equipped to switch gears and respond to its changing business environment - faster than its competitors!
Feeling overwhelmed with all the BPM jargon and lingo?
Check out the BPM Glossary to gain a better understanding of the terminology.
A B C D E F G H I J
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The BPM Glossary is generously provided by BPTrends. Definitions marked by a yellow arrow were supplied by Appian Corporation. If you don't find the term you're looking for, send an email to firstname.lastname@example.org for help with the definition.
The BPM Kit is a compilation of articles on the evolution, usage, and benefits of business process management (BPM).
Topics covered include:
What is BPM? Do You Need BPM?
Does BPM Create Are Perfect Processes
Is BPM Enough?