In today's global business scenario and multi locational teams, effective cross functioning and governance of business policy are the cornerstones of a successful enterprise. Business policies are the guidelines developed by an organisation to govern its actions. They define the limits within which decisions must be made. Business Process Management (BPM) is a systematic approach to making an organization's workflow more effective, efficient and capable of adapting to an ever-changing environment. BPM will allow you to monitor the amount of resources that go into each project and will help you use your budget more effectively.
Then, you can make the proper adjustments to improve the efficiency of your business model. BPM software can also automate the process of assigning jobs. It reduces human error and miscommunication while providing better control on the processes.
It is quite common for businessmen to confuse BPM with ERP. The best way to remember the difference between the two is to think of ERP as storage and the other as process management and automation. You have a lot of data to track when running a business. You have to track sales, employee wages and more; managing all of this data independently can be a daunting task. This is where ERP is useful. Simply put, ERP is a software suite that stores data to a central server. Therefore, different departments can input data, and it all gets stored in one location. Management staff will be able to access the data as needed.
At the heart of successful ERP is not only process & transactional input but information. BPM can be extremely successful in orienting an ERP around true process when it unites the different functional areas with shared information.
An efficient BPM has several advantages for your business. These include:
With the business environment in a constant state of change, it has become increasingly important that business processes adapt to new conditions quickly. BPM helps make processes more agile through a framework that requires rigorous documentation of the steps in a process. The rigor of the BPM process helps provide a clear comprehension of each step in the workflow process. Detailed knowledge can allow organizations to understand the impact that change may have on their business processes. An organization that understands the impact modifying its business processes may have on the organization’s profitability may be better able to adapt to change and rapidly deploy the best option.
BPM uses software programs to automate processes, monitor their performance and reveal the details of how well processes operate in real time. Process automation reveals how the process is functioning without requiring labor intensive manual monitoring techniques. This greater transparency can give management a better understanding of the processes they monitor and give them the ability to modify the structure and flow of processes while tracking the resulting outcomes. In case of diversified companies, multiple company scenarios can also be easily handled.
Organizations that employ BPM find they can decrease costs and increase productivity. Benefits can result from determining how the process would function under optimal conditions, adjusting the process to help it achieve optimal performance and implementing controls to monitor the process’s future output. Optimizing processes also includes enhancing productivity by eliminating redundancies and automating manual tasks to decrease the potential for errors and rework.
Reliable BPM practices help meet compliance requirements. These can be financial reports, labor laws compliance and a wide range of government rules that organizations have to follow. An efficient BPM solution guarantees that organizations comply with the standards and stay up to date with the laws.
Safety & Security
Business process management also has the ability to promote security and safety measures. It is done by properly documenting procedures and facilitating compliance. Organizational policies and internal controls play a vital role in BPM.
So if you are on the lookout for seamless electronic integration of data across different branches. Easy to control access, based on user role/profile, EPPS offers Business Policy Management module, to know more click here.