What is BPM?
Many of today’s leaders have heard of Business Process Management (BPM), but are unsure of what it is and how it can benefit their organization. Here is BPM in a nutshell. BPM is both a management philosophy and an enabling tool powered by technology.
As a philosophy, it calls for companies to document, analyze, improve and measure results across the enterprise rather than at the functional or silo level. As an enabling technology tool sometimes referred to as Business Intelligence (BI), a BPM / BI solution combines process modeling, execution and real-time performance management across the entire enterprise. BPM unites them with an integrated set of tools and process improvement methodologies to create an overarching philosophy of rapid continuous improvement. Advanced Business Process & Performance Management approaches, like IQity’s solutions, go beyond the traditional continuous improvement and business re-engineering efforts of yesterday.
- Here are five reasons to invest in an integrated BPM and BI initiatives:
- Simplification: BPM projects begin with documenting how current processes work but then focus on how they could be made simpler, faster, more efficient and more effective.
- Efficiency: Efficiency improvements across enterprise business processes are the No. 1 source of Return on Investment (ROI) from business process management.
- Compliance and control: BPM ensures compliance not only with policies and regulatory requirements but with best practices tuned to business performance objectives.
- Agility: The new IT revolution is service-oriented architecture (SOA). BPM reduces variability and standardizes business processes facilitating their interconnection via web services while also making them easier to modify in response to changing demands.
- Continuous improvement: The ultimate goal of BPM is optimization of business processes. BPM supports high-level strategic metrics, drill-down analytics and alerts when results deviate from targets providing a pro-active response to business conditions.
At IQity we have pioneered the Next Generation of BPM capabilities by ingraining Lean and Six Sigma principles into all facets of our Process Improvement Model fused by state of the art technologies. All this is done to optimize your ROI when compared to traditional consulting or technology firms.
Can your organization afford to ignore the next generation of BPM?
