“Most likely you can identify at least a handful of processes that you believe are unique to your organization--areas that you pride yourself on in terms of being better, faster, and more innovative than others in the market. It is these unique, mission critical processes that are your process capital. The key to success is first recognizing that you have process capital and then learning how to leverage that process capital for strategic advantage," said -Laura Mooney, Director of Product Marketing at Metastorm Inc, an American Business Process Management (BPM) consultancy firm.
BPM has been defined as "a field of knowledge at the intersection between management and information technology, encompassing methods, techniques and tools to design, enact, control, and analyze operational business processes involving humans, organisations, applications, documents, and other sources of information."
So why is business process management so hot? Because whatever an organisational structure, be it in manufacturing, services or retail, is underpinned by processes, those fundamental ways of doing things that are either efficient and appropriate to make an organisation stand out from others. BPM is hoy because it is a system implementation methodology to aid the identification, comprehension and management of business processes that interact with people and systems, both within and across organization. In other words BPM is a way of conducting operations, the overall focus on how the work is done.
BPM’s distinctive characteristics are:
Every company needs BPM.
In the final analysis, one way to increase customer loyalty while at the same time increasing productivity and reducing operational costs is to implement business process management BPM ensures a continuous focus on customer retention, cost control and reduction, performance and asset retention--in spite of economic fluctuation.