BPM is about profits, not just efficiency
Investments into business process management software are driven by several factors. Improving efficiency, automating processes or integrating support for cloud or mobile BPM are often some some of the leading reasons, but companies need to break down their reasons for such investments to understand the core of the matter.
According to a study by Gartner, it isn’t just efficiency that pushes businesses to embrace BPM software, but the ability to further drive revenue. Many firms experience hassles or resistance when implementing process management solutions because they aren’t focusing on the area that provides the largest, demonstrable ROI – actual profits.
The need to look at pure revenue as a value-driver for BPM goes beyond breaking down the core investment reasons as well. The study found that firms are able to streamline adoption and expedite their efforts more effectively when targeting profit as a primary benefit of investment, while specific verticals are able to drive goals unique to their industry more efficiently.
BPM for financial services was able to help one brokerage firm Gartner assessed to add end-to-end straight-through processing to its operations, boosting customer order fulfillment and helping to streamline its business management systems at the same time.
The end goal of any process improvement is saving or making more money. BPM solutions cut straight to the heart of the matter and focus on innovation that enhances how a business can optimize its workflow overall. However, there are several considerations that firms have to make when investing in these tools, Gartner found.
By focusing on integrating BPM at every level of operations, transforming the business as a whole and aligning the tools with well-established enterprise strategies for success, a company can enhance its success and focus on gains beyond initial expectations. Ultimately, this will be worth more than the individual improvements experienced by BPM investments.
While revenue may be the main driver for BPM adoption, companies cannot forgot the individual improvements achieved either. In the end, these results still have importance and will help a company establish weak points in its operations, know where to make future investments and how to optimize workflow further down the road when future changes become pertinent.
Director of Corporate Communications