10 Valuable Benefits of Business Process Management

In the current business landscape, collaboration and integration are increasingly important. As businesses develop and grow bigger, every department needs to work together to ensure that business goals are met. This can lead to complicated business processes that cause confusion and result in lost time and resources.

Business process management (BPM) can help businesses avoid these issues and lead to increased productivity and agility when it comes to achieving the required business outcomes. It is the process of managing various people, systems, and processes to achieve certain decided business goals. There are many benefits of BPM that can help you increase collaboration and streamline existing business processes.

Business process management (BPM) is an ideal way of encouraging better productivity and efficiency in the workplace. Due to increasingly complicated business processes, and a greater need for collaboration across departments, efficiency can take a nosedive and cause obstacles to growth. It ensures that business processes run smoothly and become as simple as possible to avoid any confusion.

In this blog, we’ll discuss the most popular types of business process management, problem areas solved by BPM, and it’s 10 top benefits.

What are the types of Business Process Management?

1. Cloud BPM

Cloud business process management involves deploying your chosen BPM software in the cloud. Cloud BPM can provide the space required for your company as you scale upwards. This is also a smart solution that enables employees to telecommute. All of the information and processes are available on the cloud at all times. Cloud BPM is also a very flexible solution to your BPM problems as it can be adjusted to suit your need as it’s mostly a low-code solution. The security of your data and processes is also taken care of by your provider. These data security services are also minimally priced.

2. On-premises BPM

On-premises BPM involves using software that is present on company-owned hardware and runs on operating systems that the IT department has set up. This form of BPM requires the company to pay for company servers and hosting assets. On-premises BPM ensures that the software is visible, tangible, and can be easily accessed as it is within company servers. With this form of BPM, everything is in the company’s hands.

Also read: Cloud vs On-Premise | The Battle of the Titans

What are the problem areas solved by Business Process Management?

Here are three types of BPM systems that are seen often in companies:

1. BPM for integration

Business process management for integration refers to the integration of different existing systems in your company that needs to be utilized together to complete tasks. These different processes often don’t have much human involvement and they need to have connectors and API access to integrate quickly and effectively.

2. BPM for the workforce

Business process management for the workforce involves handling processes that have heavy involvement of the employees. As these processes have a lot of approvals and task setting requirements, the business management platform needs to be user-friendly and easy to handle. With suitable project tracking systems and simple notification processes, these processes can help make employees more productive and time-efficient.

3. BPM for documentation

Business process management for documentation involves finding efficient ways to handle processes that are heavily dependent on documents. This includes documents such as agreements, contracts, or onboarding paperwork. The processes of formatting, verification, and ensuring the document is signed need to be handled by the BPM system.

What are the benefits of Business Process Management?

BPM can ensure that the business processes in your company run smoothly and efficiently through some of the essential features of a BPM platform. Here are the top 10 benefits:

1. Reduces costs

Throughout the BPM process, it’s necessary to carefully identify and examine your business processes. As these processes are mapped, all of the unnecessary steps and inefficient tasks can be easily identified. These inefficient processes can be either eliminated or outsourced depending on which idea is more profitable for the company. This can result in reduced costs for the business while removing redundancies, streamlining inefficient processes, and isolating any inflated labor and materials costs. The benefits of business process management aren’t just limited to increasing productivity, BPM can lead to direct financial benefits also.

2. Helps identify new customer demands

As the business processes are identified and analyzed, the main goal of the process might need to be tweaked. There is an increasing need for customer-centric processes that can provide value for the end consumer. These modified processes also often lead to an improvement in efficiency and productivity. With an increased focus on the consumer’s needs to streamline processes, there is a better chance of business managers getting insights into new customer demands.

BPM can help direct your CRM efforts according to the insights gained through studying the customers. One of the benefits of business process management is the ability to apply all of the data regarding customers to existing business processes and encourage customer-centric processes.

3. Enables the transformation of business models

With a constantly changing business landscape, companies have to adapt quickly to meet market demands. Older business models are constantly at risk of becoming obsolete and transformation is necessary for companies to grow and develop. One of the benefits of BPM is that it can help companies in identifying the existing processes that they have in place. The processes and business model can then be restructured to suit the current needs of the customers and the market.

4. Increases productivity

Business process management can help companies increase their productivity by removing unnecessary processes and introducing better and more agile processes. This can lead to an increase in productivity due to the removal of time-draining steps that made the entire process inefficient.

5. Helps companies remain competitive

Companies have a better chance of remaining competitive as long as they overcome barriers that are preventing them from looking towards innovation. These barriers could be repetitive processes, unnecessary costs, operational confusion, etc. BPM can help the company sift through their processes to ensure that there is no wasted time, effort, or resources.

6. Better retention of customers

BPM can help businesses align their business processes towards providing better customer service. This can help companies retain their existing customers which can lead to better ROI in the future. As difficult processes can prevent customers from interacting with your business, BPM can help you analyze these processes to provide the best customer satisfaction.

7. Increased standardization of processes

Standardized processes can lead to better and easier quality control. Improving the processes in the future also becomes easier when there are standardized processes in place. Onboarding also becomes easier and productivity can soar with clear, functional processes.

8. Increase in cross-department collaboration

Business processes may be developed in different isolated departments which can result in miscommunications and a loss in productivity. BPM helps all of the processes come together on a platform that fosters communication and collaboration across departments as they set up the best methods and processes for completing certain business functions.

9. Improves mobility and agility

If business processes need to be tweaked or changed, it can be a hassle. BPM can help your business make changes quickly and easily without much fuss. A BPM tool also gives your team the freedom to work from anywhere and securely access business operations and data.

10. Reduced risks and time wastage

As business processes and tasks become more standardized, automation becomes a viable solution. This automation can help reduce the risk of errors in the processes. Automating the task allocation and other processes also mean that you can save time and focus your attention on other important tasks.

Summary

Business process management can help companies achieve their business goals in a streamlined and productive manner. The benefits are varied and can help you solve a lot of issues in one go. A BPM system is necessary to ensure you can grow at the speed you want to by leveraging these benefits.

At Quixy, we can help you design the best BPM system so you can turn an unstructured process into a seamless and streamlined process. Reap the benefits of no-code business process management by signing up for a free trial today!