Business process management (BPM) can be applied in many different ways, depending on the sector in which it is being used. The benefits of BPM have the capacity to impact virtually every department within an organization, especially when highly trained personnel are in charge of implementing an enterprise-wide BPM solution.
Consider the many benefits of BPM in the following sectors and functional areas:
BPM workflows lend themselves easily to commonly used human resource (HR) applications, such as vacation requests, training requests, recruitment, termination, certification management and employee performance reviews. By incorporating BPM into HR activities, the associated business processes can be conducted more quickly, efficiently and consistently. In addition, BPM ensures that management has ready access to that information required to make important business decisions.
Finance and Purchasing
In order for a company to maximize profitability, proper management of financial assets is essential. BPM has proven to be extremely effective in managing purchases, tracking expenses, and monitoring subcontractors and suppliers. An effective BPM system makes it easy to coordinate and oversee critical business activities such as purchase requisitions, billing and invoicing, travel requests and reimbursements, budget approvals and collection of payments, among others.
Customer Relationship Management
BPM enables customer relationship management (CRM) teams to solve problems more efficiently and provide customers with the most accurate and up-to-date information. It’s important for a BPM solution to integrate seamlessly with the marketing, sales and support systems within a company. When properly implemented, a BPM package can organize and automate activities such as new customer acquisition, service call management, customer complaint resolution, help desk requests, credit approvals, fraud assessment and task management.
Sales and Marketing
A well-designed BPM solution has the ability to support a company’s sales and marketing teams by providing them with process-driven applications that save valuable resources and time. It can also streamline the pre-sale process, provide prospective customers with prompt answers, and enable employees to quickly respond to changing customer demands. Examples of sales and marketing BPM workflows include customer inquiries, promotional campaigns, product launches and sales process management, as well as developing, responding to and approving proposals and bids.
Research and Development
BPM provides a reliable infrastructure for the effective management of research and development (R&D) processes. A company’s product and service offerings must be dynamic, flexible and able to adjust to the needs of the market, and BPM helps accomplish that by reducing or eliminating re-work costs and minimizing the time it takes to bring new products to market. BPM workflows typically include popular R&D applications such as feature and change requests, bug tracking and schedule management.
Understanding the potential benefits of BPM can help you pinpoint and prioritize business areas that offer the greatest return.