What is BPM?
BPM refers to business process management, which a holistic management approach that focuses on aligning all aspects of a business entity or organization with the specific wants and needs of its client base. BPM (business process management) aims to make businesses and organizations who seek profits, more efficient by promoting and striving for flexibility, innovation and a modernized alignment with technology.
As a result of these intended goals BPM (business process management) constantly update their attempts to improve such processes continuously; therefore, BPM (business process management) can be described as a thorough optimization process that a business or organization undertakes.
Overview of BPM:
In general, a business process is comprised of a series or network of value-added activities that are performed by their relevant collaborators, to achieve the common goals of the underlying business. This process is critical to any organization or business entity, for they typically generate the majority of the revenue and often represent a significant portion of the businesses’ costs.
In regards to a managerial approach, BPM (business process management) will consider various processes to be analyzed as strategic assets of the organization that in turn, must be actively managed, understood and improved to deliver a value added product or service to its clients.
Although BPM is similar to other methodologies, BPM (business process management) focuses on achieving their goals through the implementation of updated technology; this premiere focus, in the viewpoint of BPM, ensures the viability of the managerial approach in times of fluctuation and stress to the underlying business model.
As such, the key role of BPM aims to renovate a company’s preexisting functions through the implementation of better technologies and more efficient employee actions. The initial focus of BPM was to automate business processes through the advancement and widespread use of information technologies; however, this ideology has been extended to include human-driven process where human interaction takes place in parallel to the advancements of technology.
Categories of BPM
BPM (business process management) activities can be classified into five categories: design, modeling, the execution of the system, monitoring and finally optimization.
The process design of BPM encompasses the identification of existing processes in the business model and the subsequent design of newer processes. Areas of focus within design of BPM include representation of the process flow, alerts & notifications, escalations, standard operating procedures, service legal agreements and task hand-over mechanisms. Functional design of BPM reduces the significance and amount of problems over the lifetime of the process.
Modeling of BPM takes the theoretical design and implements combinations of variables aligned with the company’s costs.
The execution of BPM is employed through various technologies that are designed to implement and streamline the improvements made. This approach is commonly intertwined with human intervention; this process is somewhat difficult and will vary depending on the underlying business model.
The monitoring of BPM encompasses the tracking of individual processes, so that information can be easily seen and statistics regarding performance can be evaluated.