Enterprises are generally client-dedicated operations, and as such, they rely on the input of their customers in order to craft products and services that can satisfy their needs. But these companies have needs of their own. In order to thrive in a hyper-competitive marketplace and be profitable, they need to be as agile, efficient and productive as possible.
But how can businesses reach these lofty heights? The answer lies within IBM’s concept of Business Process Management (BPM). In today’s market, when companies are told to jump, their answer should be “How high?” This is achieved through agility, flexibility and scalability. The more agile and flexible a business is, the easier it will be to respond to various challenges, ranging from satisfying customer demand to increasing employee productivity.
The integration of BPM into daily functions helps with the generation of value for the enterprise while improving upon other key areas, including employee effectivity and customer service However, there are other areas where BPM can play an important role.
When it comes to managing a business, there are several key words that come into play. One of them is productivity. In today’s fast-paced marketplace, many companies are trying to do the most with the least by simplifying certain processes. Utilizing fewer resources not only provides cost savings, but it also helps to increase productivity.
It could be argued that the success of a business is akin to Herbert Spencer’s concept of “survival of the fittest.” Others might liken it to an auto race, where the fastest driver is usually the one who wins the race. These analogies both tie into the concept of speed to market. Ideas drive product development, and the faster those ideas become products, the more likely your business will be to emerge as a leader with a new market, as opposed to being a follower. This, in turn, can lead to opportunities to expand into global markets.
Another area that can be aided by the adoption of BPM is innovation. It’s one thing to say that your enterprise is innovative, but it’s another to be able to back that statement with proof. BPM helps to create and stimulate a culture of innovation within the workplace. Although many companies encourage their staff to be innovative, BPM advances this concept by taking it beyond boardroom discussions and transforming it into a daily habit.
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