If you thought that business process management (BPM) is just a basic automation process that helps you speed up the completion of tasks and manage your processes more efficiently, you need to know that the reality is much more than that. A well-organized BPM structure is one of the biggest assets for the sustainable growth of your company.
One of the most important qualities a process must have in order to maintain sustainable growth through the worst economic conditions is scalability. This means that it should be able to retract the expenditure and saving of resources in difficult economic times. It is crucial that you carefully understand the processes that facilitate the functioning of your company; and it is even more important to be able to control this process as and when required.
The two key features that business process management employees need in order to gain insight into the functioning of a company is the interactive business activity monitoring, also called iBAM and key performance indicators or KPIs. These two can be effortlessly tracked and monitored. Using them, a lot can be found out about the current growth trends of your business.
As economic conditions change, your company’s BPM strategy must adjust accordingly. A flexible BPM solution is absolutely indispensable for companies today. It should be able to handle exceptions effectively. The primary goal of every BPM solution is to improve the efficiency of your business, even in the worst of economic conditions. It usually does this by leveraging technology and innovative solutions that improve the efficiency of your process. In the case of exception situations, your BPM must be able to adjust accordingly.
The recession in 2008 was equated to the Great Depression of the 1930s, and a huge number of companies performed large-scale cutbacks in resources and manpower. As things have changed, there are more and more man-hours required to be clocked in by each employee in order to bridge the gap. A good BPM solution is what helps you do this very effectively. It automates the process of identifying the amount of work required and equally distributing the work to the team of professionals. This is how a good BPMS helps optimize your business process and lets you accomplish more with the limited work force that you have right now.