The complexity of modern business makes it difficult to efficiently manage a multitude of tasks and processes without taking a systematic approach. The use of an approach of this type is widely known as business process management (BPM). BPM software is designed to add value by automating the processes a company uses to run its operations. A process is defined as a group of linked activities that operate together to enable the timely accomplishment of a workflow. Models created by your BPM tool can be utilized to establish guidelines governing specific processes at your business.
These guidelines can enable you to run your company’s operations with greater efficiency, thereby boosting overall performance. The software also allows you to analyze processes in order to make improvements where necessary. The goal of BPM tools is to eliminate, as far as possible, problems stemming from communication failure or employee errors within an organization. Software of this type is especially helpful in promoting efficiency as a company increases the scale or scope of its operations and project managers should consider this as a matter of great importance for the company.
Business practice management involves a variety of different methods designed to help reduce chaos and improve operational efficiency. Specific BPM approaches include:
- Six Sigma: This method uses quantification of process improvement on a continuous basis to attempt to optimize practices via the measurement and elimination of defects.
- TQM: Total quality management is a system of improving processes and products through ongoing feedback.
- Lean: This approach aims to completely remove waste from a process. It attempts to add value for the customer via the use of fewer resources.
BPM Software Tasks
Business process management software can perform a wide variety of tasks, including:
- Managing invoices
- Application management
- Adding employees
- Case management
- Originating loans
- Workflow design
- Action item alerts
- Account management
- Compliance management
- Project management
- Facilitating customer requests
- Expense accounting
BPM Software Benefits
The benefits derived from business project management are enhanced by the usage of a BPM solution. They include:
- Improved accountability
- Increased customer engagement
- Enhanced regulatory compliance
- Competitive advantages
- Cost reduction
- Minimization of inefficiencies
- Improved business flexibility
Features of BPM Software
The specific features of a business process management solution will vary from vendor to vendor. Some of the main features typically included in BPM tools include:
- Workflow Management: Functionality of this type enables the design, testing, and implementation of complex workflows via the integration of comprehensive communication links connecting employees, data, and applicable systems.
- Modeling Functionality: This section of a BPM tool allows for business process modeling, which typically uses a tool which gives users the ability to use visual design processes to build and evaluate a variety of workflow processes inside a company. The processes can generally be designed via the use of the following methods:
- SOA (Service-Oriented Architecture)
- BPMN (Business Process Model and Notion)
- Software Integration: BPM tools can typically be integrated with other popular business solutions
- Analytics: This portion of these solutions offers the ability to analyze data using a wide variety of metrics, both standard and user-defined. Reports can be created on the basis of real-time data, providing up-to-date insights on your company’s operations.
- Enhanced Collaboration: Built-in communication channels enable easy collaboration between team members and support decision management processes.
- Business rules engine: This functionality allows you to enter complex business rule sets specifying the conditions associated with specific business processes.
Using BPM Software Effectively
To get the most out of a BPM tool you must first identify the processes and functions within your company that it can help optimize. This should be done prior to beginning the selection process for a BPM tool. To help in the process, consider the following:
- What goals will a BPM solution be tasked with achieving? Determine which pain points the software will be expected to address. If you purchase a BPM solution without a clear idea of what you hope to achieve via its use, you risk buying a tool that is not optimal for your company.
- How will the solution integrate with your existing processes? A BPM tool that offers impressive functionality but requires extensive changes to your existing operating system, or adoption of a new system altogether, may be costlier to implement than is warranted. Look for a tool that can be integrated into your IT system without major complications or excessive expense.
- Consider the human element as well and ask if your employees are ready to use a BPM platform. The amount of training necessary to effectively use such a tool should be taken into account when considering the costs associated with adopting a BPM system.
Selecting a Solution
When you are ready to start looking at different BPM software packages, there are several factors to examine in deciding which solution is best for your company. These include:
- Technical capacity: Research the tool’s specs to make sure that it can be seamlessly integrated into your existing IT setup and that it can handle the volume of work you need it to accommodate.
- Support: Verify that the vendor has the ability to provide support in a timely manner. Check to see how their service programs scale as your firm grows. You should also look into what type of onboarding support they provide for an initial installment. Do they offer ongoing training sessions to help users master the software?
- References: Request customer references so you can get feedback from current users of the vendor’s software. If possible, ask for references from companies that operate in the same or a similar industry.
- Development capacity: Look for a vendor that has demonstrated the ability to improve and extend its software over time.
As modern business practices require increasingly complex decisions and processes, using an automated tool to help manage your company’s operations is essential to maximizing efficiency. The ability to analyze and optimize business processes that a BPM tool provides can be a competitive necessity in today’s fast-paced business world. Before purchasing any software of this type, make sure to perform thorough due diligence to ensure that the tool is well-suited to meet your company’s specific requirements and that the vendor you select is equipped to provide the level of support you need going forward.
Nuvro is a robust online project management tool that efficiently helps manage a multitude of tasks and processes. With Nuvro you can gain control and peace of mind over all of your projects, tasks, team members, workload and everything else important to your company. In addition to the project, task and collaboration features found in most PM tools, Nuvro also provides a company dashboard, a team dashboard, team member performance reviews, secure document management, an internal alternative to email and more. Nuvro is perfect for busy teams looking to accomplish more. Learn More…