BPM may sound costly to SMBs, but the benefits may be worth the investment
Business Process Management (BPM) is an umbrella covering processing for improving business performance and agility designed to deliver value externally (customers) and internally (the company). Such a system can have benefits to company’s informational flows, collaboration, communication systems, data analytics and project management.
Improved operational performance and efficiency
Operational intelligence tools such as IBM Business Process Manager have the ability to analyse and adjust business processes to improve performance and efficiency. By optimizing such processes it enhances productivity because workflows can be managed more easily. BPM can also bring tremendous cost savings to an organization. Optimizing and automating business processes can lead to a reduction in redundancies. Most manual tasks can be eliminated and thus considerably decreasing the risk of errors and rework in the process. Gartner claims that by simply “making the current-state handoffs, timing and responsibilities explicit”, productivity improvements of more than 12 percent are typically realized. The real benefits can be felt across multiple departments.
Increased visibility and compliance
BPM can provide greater visibility on organisational workflows. This not only extends control to business holders but also ensures more informed decision making. Comindware explains that, ‘within BPM systems, companies can build compliance into their business practices if department-specific applications are integrated with the organization as a whole.’ Many of these tools can allow function specific integration across an organization’s database. Automated reporting and decision making also allows system administrators to mine into data and gather insights on areas of weakness.
Reduced unscheduled downtime
BPM tools can provide insights into hardware performance. This is helpful in reducing unscheduled downtime, react to threats and maintaining customer satisfaction. It thereby enhances change management to enable business policy updates to be changed and managed easily. These smarter processes simplify deployment of new policies and procedures, and automate updates and alerts. An example of such a tool is IBM Business Monitor. It allows for predictive maintenance by showing early signs of potential failure before it becomes critical to the business.