Top 5 Benefits of Good Business Process Management
Monday, November 12, 2018
The definition of business process management (BPM) is broad but it can be slashed to a systematic approach to making an company’s workflow more effective and reliable for better understanding. This short definition highlights business process management importance for business, but not hardly foreground benefits of BPM integration into a business. Below we cover why BPM is needed and how business of any size can benefit from BPM technology.
The most tangible benefit of good business process management is Cost Efficiency that can mean decreased costs and increased revenue. While the rest of benefits BPM delivers is intangible in the short term, they add crucial value in the long run, and help both small and huge companies with gearing up for worldwide competition. BPM technology makes any company better equipped to switch gears, respond to its changing business environment faster than competitors, and succeed!
Please read ahead to learn in more details how BPM software can help you achieve your business goals while it simplifies how you manage business processes, handle change processes and drive projects to success.
Here are the Top 5 Benefits of good business process management:
1. Cost efficiency
Simply slashing budgets is no longer a viable option in organizations that have become leaner in response to global economic conditions during recent years. There simply is not much left to cut. However, in order to thrive, organizations still need to maximize the efficiency of the costs they do incur and profit they generate. And good BPM is a driving strategy towards maximizing cost efficiency by streamlining business operations and collaboration, automating repetitive tasks, improving product quality and reducing corporate risks.
CMW Lab BPMS combines process management and workflow management with task management and built-in real-time reporting and analysis, so teams collaborate more effectively within both routine workflows and profit-generating projects and bring their projects to fruition within budget, with reported cost savings of 30% to 50%.
2. Business agility
A trend in BPM is toward more nimble processes that respond to organizational learning in the marketplace. Nowadays flexibility is frequently taken as one of business process management goals in addition to cost efficiency. This has led to a greater demand for ultra-flexible business process management tools that are easy to design, change and deploy. Generally, agility incorporates the following elements, all of which are facilitated by CMW Lab:
- Process management: With CMW Lab BPM, process management comes in the form of workflows that you can change on-the-fly. You can re-use workflows wherever you need to and customize them as you go.
- Rule management: As work management moves into an unstructured, collaborative age, rules management will be the way to stay properly governed, visible, and compliant, while keeping processes on track. CMW Tracker features on-the-fly rule configuration for each department, function or project (whether structured or unstructured), as needed. This provides unique flexibility not seen in other work management tools.
- Integration and automation: CMW Tracker offers comprehensive solution that support process and case management as well as pre-integrated with Project Management. The fact that this all sits on one organization-wide database means that the company has full control, full visibility and full real-time reporting and analysis capability.
- Continual optimization and scaling. BPM system by CMW Lab enables quick-win implementation and non-code addition and modification of running processes. It allows for starting with simple automated workflows and growing incrementally with comprehensive business process management.
3. Compliance ease and visibility
Changes to legislation and other factors have meant that companies without a flexible system for handling end-to-end compliance can incur great, unforeseen costs, both in reporting and penalties. Within BPM systems, companies can build compliance into their business practices if department-specific applications are integrated with the organization as a whole. CMW Tracker allows for full integration with function-specific, 3rd party applications that are also tied to an organization-wide database. This makes it possible to produce automated reports that demonstrate compliance in a cost-efficient way.
4. Customer focus
Savvy customers are demanding thorough proof-of-concept (POC) processes that document how their needs will be heard through self-service Web 2.0 capabilities. Business process management helps organizations to combine people with technology to acquire and retain satisfied customers and CMW Tracker lets organizations include any desired user (read: customer), with easy-to-program security roles. This paves the way for ongoing, real-time collaboration with customers in a way that proves responsiveness, personalization, customization and access to information.
5. Staff satisfaction
Organizations continually try to sustain a rewarding working environment that motivates their staff. Business processes that are developed and documented help to motivate team members, dedicated professionals who generally don’t want to waste time or money. Because CMW Tracker leads to better team collaboration with full visibility, team members report higher satisfaction because they can focus on their tasks while having all the information they need in one place; meantime managers have real-time visibility into what’s going on.
Could your organization benefit from improvements in the following areas?
- Increased customer satisfaction and shorter time-to-market for products and services
- Greater efficiency (and cost savings) with existing applications and processes
- Greater team satisfaction as collaboration and best practices are improved
- Full transparency of all activities across the team and organization
…work management is a set of software products and services that apply workflow structure to information and workers so that processes are streamlined and performance is improved…
Some companies already have BPM systems. But, after the BPM initiative is in place for a year or two, professionals in these enterprises are usually frustrated by how difficult it is to change processes, and are surprised by the degree to which colleagues use “work-arounds” for unstructured projects that arise. When formal business processes cannot be changed easily, or when the team isn’t using the formal processes for all work, then visibility, agility, organizational learning and market response times all suffer. CMW Lab low-code BPM software enables non-technical users (Top-managers) to change business process easily, make sure that company stuff doesn’t need “work-arounds” for projects that occasionally arise and stay effective!