Your BPM is a crucial aspect of digital transformation, but it requires a significant amount of collaboration and coordination with departments and key decision makers before you can integrate your technology and business processes. You can make operational improvements and increase productivity across your entire organization with BPM, but you need to know how to optimize your BPM performance to get the maximum benefit.
Even the best business process enhancements can fail without a smart business process management (BPM) strategy. As companies expend large sums to undergo unprecedented levels of digital transformation, the cost of failure is growing exponentially, bringing BPM to the front and center of corporate conversations.
BPM (business process management) focuses on improving management through use of digital technology and applications, and organizations rely on this BPM software to become more efficient, effective and capable of change. Digital transformation is effectively the investment in BPM software and newer business models to improve sales and market value.
Content is frequently referred to as the king of the new digital landscape, but content as currency may be a more accurate descriptor. With cost no longer being a factor, digital information has become essential for growth. Information may not have reached the point of replacement for the dollar, but its value continues to increase as it flows from one network to the next.
Traditional organizational silos have reporting and budgetary hierarchies that hinder efficiency because review, evaluation and approval of basic requests go through multiple levels. Business Process Management (BPM) transcends these boundaries with automated processes that supply the right people with appropriate information at the time required, in order for them to make the most astute decisions. And because processes can be modified easily, benefits including the ability to manage organizational change, continuous improvement and high return on investment can be realized quickly.
With these capabilities BPM picks up on operational efficiency where earlier technologies leave off. It extends workflow beyond departmental document routing and approval by providing users a rapidly developed, complete application for accomplishing their tasks. And BPM broadens the capabilities of disparate, data-centric enterprise applications with fast and flexible synchronization of data between applications, within the enterprise, and outward to partners, customers and other audiences.