All businesses function by leveraging processes. It is the set of activities, methods, and decisions used to achieve a business goal. Business Process Management (BPM) is the practice of managing these business processes in order to maximize efficiency and effectiveness.
However, after the pandemic, many businesses are wanting to re-evaluate and optimize their business processes to adapt to the ever-changing business landscape. In fact, around 76% of surveyed business owners believe they need to reorganize their technology and business processes to fully optimize it and increase customer satisfaction.
Low-code BPM solutions provide businesses with a comprehensive way to manage business processes from start to finish to optimize business performance across a variety of areas. Here are nine of the key benefits that BPM solutions offer:
1. Faster Decision Making
Business process management solutions enable business operations to be monitored in real-time, allowing for faster decision-making and better business outcomes.
A well-defined and collaborative process developed using a BPM solution is not only easier to follow, but also leaves behind critical clues as to how the process is performing. Having real-world data at your fingertips is a powerful tool to aid in decision-making. Waiting too long to make adjustments proves to be a costly mistake that can be avoided.
2. Facilitate Cross Department Collaboration
As business operations become increasingly complex, employees need to collaborate across departments. Business process management solutions help facilitate effective communication between departments and enhance collaboration by providing a platform for all business processes.
With BPM solutions, businesses can streamline business operations, improve transparency, and break down silos between departments so that everyone is on the same page and working towards the same goal.
3. Provide a Competitive Edge
Business process management solutions provide businesses with the tools they need to stay competitive. Companies can automate business operations, reduce manual labor costs and ensure business processes are running efficiently and effectively.
BPM enables businesses to gain a competitive edge over their competitors since efficiency always trickles down to the customer. Even the most obscure, back-office processes collectively impact an organization’s value proposition offered to the customer. This principle holds true, whether it be on Main Street or Wall Street. Overall business outcomes are always related to an organization’s philosophies and methods of operating.
4. Increased Visibility
Getting a clear overview of business operations can be difficult, but business process management solutions provide enhanced visibility into business processes. BPM solutions enable business owners to gain insight into business operations and make better business decisions.
It also provides businesses with the ability to monitor business activities in real-time and collect data that can be used to identify areas of improvement. This increased visibility helps businesses identify potential risks, understand customer needs, and improve operational efficiency.
5. Monitor Business Performance
The business intelligence gathered through business process management solutions makes it easier for businesses to track business processes, identify areas of improvement, and take corrective measures quickly.
Quality BPM solutions, such as the Decisions Platform, include Process Mining technology that analyzes process data to reveal how it is performing. Using visualization and metrics to observe how long certain steps in the process are taking, what decisions are being made at each step, and common pathways that processes are following provides incredible insight. Without this analysis, most improvement decisions are made on hunches and short-sighted observations. Strong BPM Solutions provide the full picture supported by actionable metrics.
Additionally, it allows business managers to identify bottlenecks, track KPIs, and gain a better understanding of business operations.
6. Streamlined Processes
Streamlined processes can significantly reduce business costs and improve customer satisfaction. Business process management solutions enable stakeholders to ensure that business activities are running smoothly.
Businesses can automate business operations, eliminate manual tasks, and create efficiencies across all departments. This helps businesses increase their operational efficiency while reducing time and money spent on business activities.
7. Increase Opportunities for Continuous Improvement
Business process management solutions enable business owners to identify areas of improvement, introduce new processes, and create strategies to address them.
This helps business executives to get an in-depth understanding of their business and develop a plan to achieve business improvement. Additionally, it allows businesses to react quickly when changes need to be made.
8. Maintain Compliance and Regulations
Keeping up with compliance and regulations is time-consuming and can result in a loss of employee productivity. However, companies that utilize business process management in their business operations can ensure they stay up-to-date with regulations.
BPM solutions can help keep organizations compliant through detailed workflow documentation. Low-code solutions are even considered ‘self-documenting’ to some degree, making it possible to review how a process is operating directly from a designer/development interface. A thoroughly documented workflow makes it easy for stakeholders to spot any discrepancies and take the necessary actions to stay compliant.
9. Better Customer Experiences
When a business invests in overall efficiency, the end product benefits. Whether that be a tangible good or a non-physical service–the bottom line is improvement reflected at the customer level. Customers benefit in ways such as better support, easier access to information, stronger customer service, better product design, more intelligent offerings–and other key areas that are industry-specific.
Business process management solutions provide business leaders with the insights they need to analyze customer feedback and address customer concerns quickly. This enables organizations to identify issues and take corrective action before it leads to customer dissatisfaction.
Optimize Your Business Process with ExpressAbility
When business leaders invest in low-code business process management solutions, they are investing in the long-term success of their business. ExpressAbility provides organizations with solutions that enable them to optimize business processes and improve operational efficiency.
Our team of experienced professionals can help you develop a comprehensive strategy tailored to your specific business needs by analyzing business processes, identifying areas of improvement, and creating strategies to address them.
Contact us today to receive a BPM assessment from our experienced team, and learn how you can optimize your business operations.