Companies need a powerful tool to drive a competitive advantage. BPM is a technology enabling companies to outperform their business rivals and hence increase their profits.
In order to achieve and maintain the competitive advantage and remain commercially successful, companies need to continuously improve their business processes. What is BPM? This is the “IT-remedy” for high costs, low revenues, unmotivated reps, and disappointed customers. Other definitions of BPM are available on https://www.bpmonline.com/what-does-bpm-stand-for.
Business Process Management or BPM is the powerful software intended to align all the business workflows with the clients’ demands and expectations with the help of process optimization. The BPM approach ensures that all aspects of operations run smoothly and automatically. The bpm’online, available on https://www.bpmonline.com/crm-products, is this very solution, which delivers an accelerated improvement of business procedures.
If you still hesitate about investing in the BPM technology, let us explain you why companies urgently need to manage their business processes.
What is BPM for my company?
You cannot deny the fact that business agility and operational excellence are the key to commercial success. Business process management is a tool that helps you achieve the maximum performance by streamlining each component of your company operations.
Every company has its routine business workflows like orders processing, invoicing, budgeting and lots of others. All these processes exist to help your organization meet its objectives. However, there are also other factors (human error, poor interdepartmental cooperation, market dynamics, changes in industry regulations), which have a negative impact on the business activities. As a result, processes get slow, duplicative, ineffective, inaccurate, or redundant.
By having appropriate models, precise metrics, and insightful analysis, a good Business Process Management system puts all these operations under one roof, identifies, evaluates, and executes necessary improvements and eventually produces better performance.
When your enterprise has to implement a new business process, a top-notch BPM platform ensures the smooth integration of this process and its efficient function. The bpm’online software pays special attention to the high-value operations for the quick return on investments.
In other words, the best BPM technology empowers businesses to process more with a better quality, reduced waste of money and lower efforts. This is a great advantage for startups and small companies with tight budgets who need to get profitability quicker. This is the right answer for “What is BPM?”
What is BPM for my business processes?
Work is accomplished, strategies are followed, objectives are met and competition advantage is created throughout well-managed business processes. In the era of cutting-edge technology there are still many companies that rely on outdated processes, paper forms and inefficient manual steps.
What is BMP for business activities? It is a bridge between numerous business operations, a link between companies and their partners, a synergy of human resources and information technologies. Smart BPM systems are not only intended to automate business operations but improve the overall performance by providing the following functionality:
- Process management. This BPM component designs, models, executes, monitors and optimizes workflows, and creates dashboards and interactive forms with personalized content.
- Business rules engine. With the help of this embedded tool your stakeholders are able to align the processes with your company’s policy and practices, audit regulations and state (federal, international) requirements.
- Analytics make it possible to track the performance of business activities in the real-time mode. Built-in Business Intelligence, querying, ad hoc analysis, enterprise reporting, OLAP, and KPI metrics are to generate insightful reporting dashboards and data visualizations, determine bottlenecks, identify market trends, estimate and address business problems that need to be addressed in order to contribute to quick decision-making.
- Content management capabilities of the BMP software administrate any type of digital content (documents, media files, images) via its lifecycle – creation, edition, sharing, publishing, updating, storage, control, and deletion.
- Collaboration management as an essential part of BPM creates a unified working environment allowing employees to cooperate instantly and effectively by using incorporated message boards, blogs, live chats, instant messages, video calls and conferences. Consistent cooperation allows users to perform tasks much accurately, work more productively on projects, and achieve business goals quicker.
- Supply Chain Management is a feature of an advanced BMP platform such as the bpm’online This tool controls information, finances and materials, involved into business processes from vendors to producers, from wholesale dealers to retailers and to ultimate customers. BPM coordinates and integrates all these activities in and across your company.
- Customer relationship management is a component of the best BPM platform. The tool manages and analyzes the clients’ interactions with a company. BPM accumulates information on clients through various communication channels (points of contact between a consumer and a company): telephone, website, email, marketing surveys, live chat and social networks. The solution also provides detailed information on personal information of customers, transactions history, preferences, and expectations.
What is BPM for competitive advantage?
So, what will a company gain by investing in the BMP software?
- Increased efficiency. Once key business processes get managed and automated, they become more transparent and controllable. With a better process vision, managers become more competent to recognize and cut off inefficiencies.
- Effectiveness. With more effective processes reps can manage exceptions quicker and better, make reasonable decisions and execute them more confidently what promotes a better customer experience. Workflows aligned with a company’s strategies and goals help companies get more profitable and competitive.