Business Process Management (BPM): Life Cycle, Trends, and Benefits.
Business Process Management (BPM) is a self-explanatory phrase that we should be able to describe: isn’t it all about managing business processes?
That is an oversimplification.
Is BPM then a set of tools? And, as BPM undergoes automation techniques, would it be able to drive digital transformation?
BPM isn’t a recent phenomenon, which is indeed surprising.
The origins of what we now term BPM may be traced back more than a century to Frederick Winslow Taylor’s scientific management philosophy. Of course, much has changed since then, including the widespread use of the phrase “business process management,” as well as the behaviour and practices that it represents.
Yes, BPM is a systematic approach to digital transformation.
It focuses on improving the efficiency, productivity, and transparency of an organization’s existing business processes to encourage a better understanding of the latest trends and changes in demands as technology advances.
To put it another way, contemporary BPM is reliant on IT expertise and leadership. Businesses who do not have it will fall behind their competitors and colleagues, maybe owing to a lack of sufficient investment in automation and other technology domains.
Let’s dive right in to know more about Business Process Management (BPM): Life Cycle, Trends, and Benefits to increase organizational agility by gaining a competitive edge.
What is Business Process Management (BPM)?
BPM is a business process that orchestrates the actions of people, systems, information, and objects to create business results that support a company’s goal. It’s a discipline or technique that’s comparable to DevOps and BPM employs several tools and techniques to create, model, execute, monitor, and improve business processes.
The goal of BPM is to provide a standardized, automated process for everyday transactions and human interactions.
BPM focuses on developing a consistent, automated procedure for everyday transactions and human interactions. It contributes to minimizing operational costs by eliminating waste and rework, as well as improving the team’s general efficiency.
Businesses can use several BPM approaches, such as Six Sigma and Lean, to implement BPM.
Some misconceptions about Business Process Management (BPM)
BPM isn’t Software — BPM solutions can help with the adoption of both manual and automated business processes. For instance, BJIT assists businesses in automating difficult, multi-step, and repetitive business processes. BPM is not a software program that can be installed on its own.
BPM is not the same as Task Management — The practice of managing or organizing a series of tasks is known as task management. To organize tasks and commercial projects, project management software such as Microsoft Project, Jira, Asana, or Trello can be applied. Business Process Management is a repeatable and predictable process.
Why is Business Process Management (BPM) used?
BPM is used to improve business operations.
Hundreds of thousands of actions and the processes and permissions required to complete them make up a business process.
Some popular instances are:
• Completing a product transaction
• Authorizing and remitting an invoice
• Updating associated accounts
• Updating essential databases
The purpose is to improve a business process’s overall order, comprehension, and efficiency. BPM eliminates haphazard process management and streamlines workflows.
The goal of BPM is for organizations to have control over their processes and improve them. Because of this approach, the organization becomes more efficient, allowing it to supply products and services while also reacting to changing demands.
When Should Companies Adopt Business Process Management?
Here are a few examples of business processes where BPM will deliver a high return on investment.
1. Dynamic processes requiring regulatory compliance modifications, such as a shift in customer data management in response to financial or privacy regulations, changes.
2. Complex business operations involving several business units, divisions, functional departments, or workgroups that require orchestration and coordination.
3. Measurable operation processes that affect a key performance indicator.
4. Workflows that need the usage of one or more outdated programs.
5. In business operations, managing exceptions and/or quick turnaround times.
Types of Business Process Management (BPM) System
Business Process Management Types (BPM) BPM systems are divided into categories based on their intended usage.
The following are the several business process management:
System-Centric BPM (or Integration-Centric BPM)– It automates processes that rely on existing business systems (e.g., CRM, ERP) and it doesn’t require significant human involvement. A system-centric business process management software with a wide number of connectors and API access can assist you in designing efficient and effective business processes. Integration-centric processes, such as online banking, entail the integration of several software systems.
Human-Centric BPM — People come first in human-centric BPM, which is backed up by several automation features. These are procedures that are performed by humans and thus are difficult to automate. This necessitates individual authorization and responsibilities. Customer support, addressing complaints, onboarding new staff, conducting e-commerce operations, and filing expense reports are all examples of human-centric procedures.
The 5 Steps to Optimize Business Process Management Lifecycle
BPM is divided into many stages. BPM gurus cites the following five:
Design — Examine the existing technique to see where it might be enhanced. The business process should then be planned as it should use standardization and automation.
Model — Examine how the business process works in different situations.
Implement — Improvements, such as process uniformity and automation, should be implemented.
Monitor — Keep track of your progress to see how far you’ve come.
Optimize — As much as workable, improve the business process
Business Process Management Architecture
BPM architecture aims to ensure that an organization’s business operations are automated. BPM architecture may be viewed as a broad description of a whole process system.
The following process phases must be completed using the BPM architecture:
• Modeling processes
• Formulae and model data definitions
• Business rules, participants, and integrations definitions
• Processes are simulated
• Procedures should be carried out
• Processes should be monitored
As a result, the BPM architecture will improve.
Then promote continuous improvement by reviewing this data, converting it to information, modelling new processes that are even more efficient and effective, and repeating the cycle to a new level of monitoring and improvement.
The working of BPM & Automation
Automation and data are becoming important in BPM in the time of cloud and Artificial Intelligence.
While BPM has always been about increasing efficiency, no one could have predicted the benefits that big data and technology automation would bring to the discipline in its early stages. You may also measure a range of activities and recommend enhancing them by using technology to automate procedures.
While some may regard BPM as a discipline analogous to a big corporate program operating on outdated infrastructure, it is undergoing a revolution with strategic IT teams with expertise in automation, architecture, data, and other fields.
Business process management (BPM) is a technique for automating activities to close operational gaps and improve the customer experience. To detect process gaps, combine front- and back-end processes, and build agile business applications, BPM employs cutting-edge technologies such as robotic process automation, artificial intelligence, and machine learning.
How BPM Can Help with Cloud
In the cloud’s age, BPM can help IT administration.
Because of improvements in cloud computing, AI/ML, prescriptive analytics, identification, and synchronization, this discipline has gone beyond optimization and into automation.
BPM is critical for ensuring the amount of control because knowing what you’re deploying allows you to plan for future demands based on previous trends. Monitoring the development of IT-deployed assets, especially when organizations migrate to the cloud, shall limit the cost.
What are the benefits of BPM?
- BPM isn’t something you do once and then abandon. Processes must be addressed. Companies should focus on improving them from start to finish rather than focusing on single operations.
- BPM benefits managers in the following ways:
- Analyze and evaluate the processes that occur inside their businesses
- improve processes and business strategy
- Have a stronger influence on business results
- Adapt business processes to market trends and industry standards and
- Capitalize on emerging technology
BPM that is well-executed may result in a variety of bpm benefits for the company including:
- Waste can be reduced
- mistakes can be reduced
- time can be saved
- better products and services
Implement Process Automation at Scale with BJIT
BJIT can give your business process and workflow automation technologies to assist you in establishing better business processes, streamlining organization-wide efficiency and saving money following the 2022 trends, which include:
- Bots in Process Automation
- Adaptive Case Management (ACM)
- Increase in demand for low-code systems
- Increased Workplace Collaboration
BJIT can help you reduce your worker’s repetitive duties while assuring accurate, error-free data input and process consistency. They can boost team productivity by minimizing repeated grunt work, enabling your employees to focus on higher-value, more vital activities.
Now you can generate dynamic workflows with several stages using a drag-and-drop no-code workflow builder without knowing how to code. You don’t have to rely on your IT/Engineering department to complete time-consuming automation initiatives.
Business operations that require many platforms to complete can be coordinated.
Schedule a consultation with BJIT to discover more about how Business Process Management (BPM): Life Cycle, Trends and Benefits can assist your company.