Business process management (BPM) is a systematic and business solution approach to make an organization’s workflow, more efficient and more capable of adapting to an ever-changing environment. It allows all the processes to run smoothly and effectively. It is a way that leads to the “process optimization”.
BPM views a business as a set of processes or workflows or we can also say that it is a set of activities that are to be performed for the overall development of the firm. BPM Software is software which enables businesses to model, implement, execute, monitor and optimize their processes.
Horizontal BPM Solutions:
These are those BPM solutions that can be applied across several industries. Horizontal frameworks deal with design and development of business processes and are generally focused on technology and reuse.
Vertical BPM Solutions:
BPM solutions that are specific to a particular industry or type of process. Vertical BPM frameworks focus on a specific set of coordinated tasks and have pre-built templates that can be readily configured and deployed.
BPM Life Cycle
The BPM life cycle follows a chain of steps that are as follows:
Process design encompasses both the identification of existing processes and the design of the processes. Areas of focus include representation of the process flow, the factors within it, alerts and notifications, escalations, standard operating procedures, service level agreements, and task hand-over mechanisms. What processes should be present or what process are not required are to be done under this stage.
Minimizing organizational errors- Simple errors in a business environment leads to devastating losses. For a particular type of business to be effective, the management needs to limit errors to the barest minimum. One way of minimizing errors in any type of business is through process management.
Attainment of organizational Goals- Every company has its own goals and objectives projected to be achieved within a specific period of time. Obstacles that hinder the realization of these goals such as delays, breakdowns and shortage of staff can all be eliminated through business process management. The resulting streamlined enterprise environment favors easy achievement of business objectives.
Having understood the potential benefits of BPM, all you need to do is focus on how to practically apply it to your specific business.