Efficiency is key to staying ahead of your competition

Business Process Management (BPM) is the practice of designing, executing, monitoring, and optimizing business processes. It is a methodology (not a product) that can turn your business into a well-oiled machine. Done correctly, it is also carried out with the intention of continual improvement.

BPM is often confused with workflow automation. In reality, BPM should be driven by outcomes (such as process improvements or efficiency gains) and need to take into account the entire, end-to-end process.

Processes can be structured and follow a predictable path from beginning to end or unstructured with a less predictable path. Automating structured and repeatable processes or workflows makes sense.

Process management vs. project management

It is important not to confuse process management with project management. Though they may sound similar, they are not the same.

• Process management focuses on repeatable and predictable processes, i.e., ongoing recurring tasks that are part of business day-to-day life. As an example, a travel request follows certain business rules. Although the process may take one direction or another - as if it is approved or not - and even if it is open to change for efficiency's sake, it always leads to the same conclusion.

• Project management, on the other hand, is about planning, initiating, and executing a unique, single-off project with a defined goal and established due date. Unlike processes, the projects are not repeatable. And because you don’t come across the same challenges daily, projects are also more flexible as they need to adapt along the way. Process management is usually associated with BPM tools, while project management with work management tools like Asana, Trello, or Jira.

Why is business process management so important?

Business process management is about optimizing a company's processes in order to achieve its goals in the most efficient and effective way possible with the best results possible, whether they are superior quality, service, response time, customer experience, or customer satisfaction.

This can include optimizing resource allocation, eliminating bottlenecks, reducing process duplication, and speeding up transactions. Businesses can improve operations and bottom lines by utilizing this outcome-oriented methodology.

In doing so, they can become stronger and more prepared to weather any storms influenced by the market.