Business Process Management (BPM) is defined by BPM.com as a discipline involving any combination of modeling, automation, execution, measurement and optimization of business activity tasks, in support of meeting enterprise goals – spanning systems, employees, customers and partners within and beyond the enterprise boundaries.
In layman’s terms, BPM is a systematic approach to managing and improving a company’s business processes so that successes are repeatable and mistakes are avoided. BPM software, on the other hand, extends this by helping organizations define the steps required to carry out a business task, mapping these definitions to existing processes, and then streamlining, automating or improving these processes so that the steps taken to complete them are more efficient.
In order to remain successful and competitive in such an advanced marketplace, business have to continuously improve their processes and operations. However, some are still intimidated by BPM because of how complex it sounds. Don’t be one of these people! Below are some of the most common BPM myths debunked for you and some ways BPM software can help grow your business.
BPM Software is too Expensive
Another false assumption is that BPM software is too expensive to implement. Thanks to cloud technology, BPM tools don’t necessarily require large investments in hardware or infrastructure. Cloud computing gives organizations the option of choosing pay-as-you-go subscriptions, designed to fit with your company budget. BPM software can be priced by user or process. What’s more, BPM software is available as open-source platforms which are completely free to download.
BPM is for Large Enterprises Only
Businesses of all shapes and sizes can benefit equally from automation. As every business has specific goals that need to be met in order to run efficiently, implementing BPM software is not a one-size fits all approach. Because of this, BPM software has been designed to be easily customizable to fit the demands of your enterprise. BPM is necessary for every business, regardless of size. It’s helpful to note too that BPM is not about size, it’s all about efficiency. If you are a small to medium-sized business, don’t let this myth turn you away from implementing a BPM solution, or even practicing BPM in your organization. Below is a short 4 minute video, presented by Leonardo Consulting, on five key roles you need for a successful BPM practice.
BPM is Way too Complex
BPM as a practice and BPM software are not as complex as some may think they are. In fact, BPM (as a practice or methodology) just seeks to implement process automation initiatives driven by human processes to improve operations throughout an entire organization. Focusing on the operations themselves, BPM uses a four step method to create better process management to improve performance:
- documenting any existing processes and keeping records of each step from start to finish
- identifying performance statistics/metrics and using the findings as the base for continuous process improvement
- once identified, improving quality and efficiency in the process for the desired outcome
- managing the process through a flow of information such as actions and related activities
As a technology solution, BPM enables businesses to design, analyze, execute, monitor and optimize important processes. Even the smallest processes, like invoice approvals, can be handled with BPM software. It is a valuable software tool to generate a competitive advantage for businesses with cost reduction, process excellence, and continuous process improvement.
The advantages your company can see almost immediately after implementing a BPM solution are too compelling to ignore:
Efficiency: Arguable the most important reason why businesses should consider investing in the use of business software. Many aspects of business operations become easier when there is software involved: from marketing to inventory management, accounting, and reporting.
Automation: Many aspects of business operations can be automated with various business software and/or BPM software. Expense, inventory, sales, salary, overhead, and various other information can be automatically compiled and turned into reports or financial statements. Sharing these important documents and data across different business software is a possibility as well.
Better Glimpse of Business Operations: The use of BPM software provides a comprehensive look of business activities, something that can help managers or business owners in coming up with more strategic plans and decision-making.
Along with the advantages listed above, BPM software also allows businesses to streamline their workflows, build data into everyday processes, create a positive end-user experience on diverse device types, and get apps/services out to employees and customers as quickly as possible. All in all, BPM software is a powerful tool that has been able to transform businesses into all-purpose hubs to drive business success and efficiency.
Looking for more? Download our Business Process Management Buyer’s Guide for free to compare the top-24 products available on the market with full page vendor profiles. The guide includes four key capabilities to look for in a BPM platform, plus questions to ask before purchasing.
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