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Benefits of Business Process Management

By Bisk
Benefits of Business Process Management

Business process management (BPM) enables organizations to align internal business functions with customer needs, and helps executive determine how to direct, monitor and measure company resources. When properly executed by qualified professionals, business process management has the capacity to reduce costs, enhance efficiency and productivity, and minimize errors and risk – thereby protecting and optimizing corporate resources.

Implementing best practices in business process management contributes to sound financial management and provides feedback on how well an organization is succeeding in meeting its goals. Some of the other key objectives and benefits associated with business process management include the following:

Increase Accountability

One of the primary goals of instituting a business process management system is to provide greater accountability for departmental functions, from tracking and monitoring expenditures to ensuring deliverables are met. By documenting all business processes and working to optimize each one, a company can achieve a system of checks and balances – thereby minimizing the potential for fraud, errors or loss and affirming that all employees are aware of their responsibilities.

Improve Reliability

Effective business process management has the capacity to improve the reliability of information and its dissemination in a timely manner. It is critical for senior management to receive accurate information as and when needed in order to make important and time-sensitive business decisions. When business processes are properly recorded and monitored, it is easy to locate the necessary data and quickly produce relevant reports.

Simplify Regulatory Compliance

From complying with labor laws to submitting SEC-mandated financial reports, there are numerous government rules and regulations companies must follow. Comprehensive business process management practices help organizations keep track of their obligations, and ensure that they are in compliance with applicable standards and legislation. By following clearly outlined processes and staying up-to-date on changing laws, companies can avoid the potentially costly repercussions of non-compliance.

Avoid Waste

Because business process management involves assigning and tracking corporate resources, there is generally far less waste than in companies that do not actively monitor those resources. Organizations that follow BPM best practices will find that they can dramatically reduce waste, enhance efficiency and, ultimately, boost profitability. Regular performance reviews can identify possible instances of waste and inefficiency, and continuous process improvements can help to address them.

Promote Safe Working Conditions and Protect Company Resources and Information

Another benefit of business process management is its capacity to enforce safety and security measures. By documenting proper procedures and mandating full compliance with them, organizations can help ensure staff safety and protect company assets – including physical resources and confidential information – from theft, loss or misuse. That’s why internal controls and corporate policies play a key role in business process management.

Learn Business Process Management – 100% Online

As these examples show, business process management can deliver many valuable benefits to your company – which is why honing your expertise in this field can have a tremendous positive impact on your career. The best way to learn essential skills and knowledge in this in-demand field is through formal training, such as the Business Process Management Certificate offered through the University of San Francisco (USF).

Developed and led by noted business process management experts, the University of San Francisco’s certificate program consists of three eight-week certificate courses: Applied Business Process Management, Advanced Business Process Management Methodology and Business Process Management Design & Implementation. All lectures and course materials are delivered 100% online through a proven, video-based e-learning platform, enabling to complete your coursework anytime and anywhere.

Upon completion of each course and the entire certificate program, you’ll receive a framed certificate of achievement from USF. So in addition to acquiring critical strategies, tools and techniques, you’ll also enjoy the prestige of a regionally accredited university that is consistently ranked among “America’s Best Colleges” by U.S. News & World Report. Simply put, there is no better or more convenient way to expand your business process management skills and credentials.

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Category: Business Process Management