Business Process Management
What is BPM?
Business Process Management (BPM) is a sequence of events that must be complete in order for a business to function and to serve the organization's customers and stakeholders. With business process management a company can take a step back and see how they can improve on services, increase productivity, and/or reduce redundancy and waste.
Why does bpm matter?
If companies do not stop to evaluate their current process, poor business process can be costly, out dated, and leading to mayhem. Management of the process is not just to fix an immediate issue and forget about it. It’s about looking at the entire business operations implementing repeated process improvements with increment changes. Unmanaged, chaotic processes decreases business productivity and can lead to one or more of these scenarios:
- Lack of data
- More errors
- Time wasted
- Increase blame
- Demoralized employees