BPM stands for business process management, which is an all-inclusive management approach. It emphasizes all the organizational aspects along with client needs. In the true sense, it promotes efficiency and effectiveness of the business enterprise through the application of technology, flexibility, integration and innovation. The primary objective of this management is to bring continuous improvisation in the processes. Therefore, there will be nothing wrong to call it as “process optimization process”.
According to a study by Kohlbacher, BPM helps the commercial firms to acquire high client satisfaction, delivery speed, time-to-market speed and product quality. In precise, this business process management is executed to create a positive impact on the entrepreneurial efficiency.
A business process usually consists of a number of value-added activities that ultimately aims towards acquiring the common business objective. If this process can be executed with utmost efficiency, it can help the business owners to gain high amount of profit. This is why; it is always advisable to handle this managerial approach with care.
Sometimes it may happen, that inspite of managing organizational activities with full professionalism; it may not work out well. In such cases, these processes truly prove to be helpful. It integrates the “changing capability” of the organization both in terms of technology and human resource.
BPM is also known as ‘Company Performance Management through Processes’. This is because; this method helps to improve performance of the company in a more and more complicated and constantly-changing environment. This process is mainly based on 2 logical levels including process management and process governance.
Process Management– It includes all the management activities of a method, which aims towards satisfying the goals assigned for this process.
Process Governance– It is the organizational governance activities which, aims towards reaching the goals that are progress and operation related.
Business Process Management helps the organizations to solve business problems through abstract business process. In the true sense, it encourages business organizations to respond to the changing environment and helps the firms to get adjusted faster than their competitors.
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