BPM may be the key to increasing returns
ROI is a primary goal for almost every business. Every investment needs a return to not only legitimize it, but provide growth, which is often the basis of the purchase in the first place. Regardless of if it’s new technology or training for employees – every investment has to be carefully considered before, during and after to ensure that the potential returns are optimized. For any company, business process management software may be the key to achieving these goals.
Within various industries, ROI means different things. For a manufacturer it may mean direct profits, while for an IT firm ROI may mean increased system efficiency. Ultimately, in most cases, this return will equate to measurable financial gain, however, and the speed of that return is just as important as the amount. Often, companies will take drastic measure to optimize their ROI with any new service or solution, but BPM software solutions can minimize risks and help deliver those returns faster and more effectively.
Reduced process time
Time to market, production time and the amount of work that a single employee can do in a day is usually measured in terms of budget. Process management software can reduce process cycle time, improving productivity or minimizing time to market for any firm by an average of 16 percent year-over-year, according to the Aberdeen Group.
Reduced process cost
In addition to improved workflow, investing in high-quality BPM software can cut process cycle costs up to 18 percent on average, according to the research firm. This cost reduction will provide the most obvious ROI, but has more tangible benefits in that it allows companies to undertake new projects or invest more heavily in other areas that need the boost.
Reduced process distraction
Separate yet related to improving process cycle time, BPM solutions can cut distractions from the average employees day and help him or her stay more focused and on task by providing a more efficient workflow to follow day after day. This will also improve daily output beyond simply speeding up productivity – with measurable gains of 17 percent on average, the Aberdeen Group noted.
Outside of the blatant improvements to process cycles, investing in a high-quality BPM suite will deliver a plethora of advantages to most companies, providing easier onboarding of new employees or new projects while eliminating pain points such as project planning. This can help enterprises in any industry, regardless of their workload demands or pacing, and promote more effective workplace habits overall.
Vice President of Product Marketing