No company is an island: every organization depends on third parties to provide them with products and services that they can’t (or don’t want to) get on their own. To ensure a smooth, cordial relationship, vendor and supplier onboarding is a crucial practice for businesses of all sizes and industries.
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If you’ve ever wondered about BPM, its capabilities, and what it can do for you – look for no further! This article is the only crash course you’ll ever need.
What does BPM even mean anyway?
BPM, or Business Process Management, describes decision-making strategies for making corporate processes more efficient. Vague, right? That’s because the term includes a wide variety of mechanisms and phenomena that span industries, all falling under the umbrella term of BPM. In fact, there are as many BPM strategies as there are specific processes that industries need to follow.
As technology moves forward, it triggers a change in customer behaviour. Unless you are primed with an effective Business Process Management (BPM) strategy, you’ll find yourself scrambling to resolve customer-driven disruption. BPM is all about organising your business to provide an enhanced customer experience and take customer satisfaction to a new high.
Business Process Management (BPM) involves much more than simply modeling business processes. It encompasses the ongoing improvement and management of an organization’s end to end business processes with a view to gaining competitve advantage.
The Internet of Things, cloud computing, big data, and more: all of these technological trends are having a profound (if not revolutionary) impact on the way people communicate and collaborate. To take advantage of these groundbreaking developments and bring their businesses up to speed, more and more organizations are seeing the benefits of digital initiatives and digital transformations.