BPM helps organizations and firms decrease costs and increase efficiency. This can mean more revenue and growth for companies, as well as increased speed, organization, and efficiency for government agencies. In the long run, BPM helps create competitive advantage by improving organizational agility. BPM platform technology can make any organization—in the private and public sectors—more efficient, more agile, and more successful, no matter their mission.
At first glance, BPM seems to deliver the same major benefit as traditional enterprise application technology like ERP: increased workforce productivity (as a result of streamlining business operations and automating repetitive tasks). BPM platforms, however, go far beyond creating efficiency. Knowledge sharing capabilities and embedded collaboration help improve decision-making. Process performance reports (and even continuous process improvement help optimize workflows. Notifications and triggers help reduce errors and eliminate waste. And an intelligent rules engine enforces best practices. Thus, BPM platforms not only help organizations increase workforce productivity, but they also improve product quality and reduce corporate risk. The result? Within months of deployment, these improvements deliver substantial cost savings to companies.
Organization Increased Revenue
In addition to decreasing costs, BPM platforms also help an organization raise its overall revenues by increasing product output, accelerating cycle time, and improving customer service. Straight-through processing helps accelerate delivery times. Dashboards help prioritize business activities by their influence on sales. Process performance reports help identify bottlenecks and reduce hand-offs. Centralized enterprise knowledge helps speed decision-making. And closed-loop customer feedback processes help track performance. Over time, these enhancements result in a faster time-to-market and an improved company image, which ultimately increases sales and revenues.
We already gone through decreased costs and increased revenue which are primarily two most immediate and tangible benefits of business process management, the real value BPM delivers is intangible. In the long run, composite process applications built with BPM platforms help organizations become more agile. Intelligent rules ensure that processes adapt automatically to changes in the business environment. Collaborative tools bridge department boundaries while improving and speeding decision-making. And in-flight process modifications accelerate response to change by dynamically rerouting processes in real time. With these capabilities, a organization is better equipped to switch gears and respond to its changing business environment. Which will endeavor in overtaking parallel competitors in different directions.