BPM critical as response to current economy
The global economic climate is not in the best state, with a variety of conditions leaving businesses in a position where growth is hard won and markets are changing fast. This pushes companies to take a fresh look at how they get the job done and to consider ways to get better. Without innovation, organizations can easily fall prey to the poor economy and struggle to keep up with the competition.
According to a recent Business Finance report built on arguments made in Peter Franz and Mathias Kirchmer’s book “Value-Driven Business Process Management,” business leaders are increasingly working on new methods to align their actual operational execution with the results the organization wants to get. Such a strategic approach can be difficult to sustain in a corporate world that supports deep-rooted departmental silos, limiting technological setups and other operational roadblocks that make process innovation difficult.
Despite the challenges that come when developing new processes, businesses are still striving to reach such goals because they want to see the gains that come from improved agility and the ability to more flexibly respond to market conditions, the report said.
Value-driven business process management is the key to supporting the innovation necessary to streamline enterprise operations, the news source explained. Essentially, focusing on value when implementing BPM principles and technologies allows businesses to turn their processes into assets, creating a foundation for revenue generation through procedural improvements that drive growth.
To find success with BPM, organizations have to embed the process in their culture, not just implement a one-time project, the report said. While there may be some value in just implementing a solution and going through processes for short-term improvement, the best way to derive benefits from BPM is to implement a large-scale program that changes operational culture and enables an ongoing shift in how workers get the job done.
One way to get the most out of BPM is to support the endeavor with business process management software. The right technological solution can help businesses integrate their cloud, mobile and social technologies into a more unified suite of tools that enables collaboration and drives process improvement. Supporting BPM ideologies with technologies can help generate tangible gains from the entire process, leading to revenue improvements and a significant return on investment.