Business Process Management Software Enhancing Flexibility and Process Control

Business process management (BPM) is a holistic approach of evaluating customer requirement, and bringing them in line with the business processes of the organization. An innovative and flexible approach results in effectiveness and efficiency, which when integrated with technology, becomes a highly potent entity that can continuously promote the process of improvement. This process optimization enhances the clear ability of an organization to surpass normal levels of efficiency and capabilities, helping to generate revenues all the year-round.

This said most professionals are going after this Business process management (BPM) software in earnest, to ensure the smooth running of their businesses. Interestingly it is not only the owners and managers of small medium and large enterprises who benefit from this software, but also almost every individual in whichever level they are in the company.

Erstwhile, they applied manual review to all data, but today, with advanced technology at hand, most people have switched over to the Business process management (BPM) software for the benefit of the end-user's requirement for flexibility and control especially in the matter of processing applications. An automated BPM software solution enhances the operation speed and accuracy because of little or no bias and errors arising from human involvement. Since all modules of an organization use the same BPM platform, faster decisions with more accuracy and faster return of results have become commonplace. The saving in time between the automated system and the earlier manual one is amazing, to say the least.

The financial institutions are a great beneficiary from the introduction of Business process management (BPM) software and they are extremely happy with the flexibility and process control they are able to achieve in planning and decision-making. They can bring about these changes without the use of IT and can easily adapt to frequent changes that happen all the time. They also use BPM software system with integrated manual and automated reviews, for processing applications at high-speed, giving both the FIs and the customers the dual benefit of speedy processing and quick results, with the advantages of accurate decision-making, market adaptability quicker implementation and reduced dependence on IT.

Financial institutions use the Business process management (BPM) software to fortify their Improve Credit risk decision-making process. Ultimately, the end-user benefits greatly as he gets enhanced control, because of which the FI also benefits.

Good Business process management software can integrate several good features into the functioning of your organization. Some of them are:

1. Deeper understanding of your internal processes; their strengths and weaknesses 2. Increasing the decision-making speed, results in operational effectiveness and efficiency 3. Delivers consistency 4. Improves scalability while negotiating the ups and downs of the economic scenario 5. Improves dynamism in a continuous business process improvement environment

Business Process Management

The term Business Process Management (or BPM) refers to activities performed by businesses to optimize and adapt their processes. The activities which constitute business process management can be grouped into three categories: design, execution and monitoring.

Process design

This covers either the design or capture of existing processes. In addition the processes may be replicated in order to test them. The software support for these activities consists of graphical editors to document the processes and repositories to store the process models.

An emphasis on getting the design of the process right will logically lead to better results as the flow on effect of problems at the design stage logically affects a large number of parts in an integrated system.

Evolution of business processes requires a change to the process design to flow on into the live system. Integrating business process is also a current research area. Integration of software for process design to be used both for creating graphical representations of workflows and implementing and maintaining these workflows makes evolution of business processes less stressful, given that requirements are not as static as information systems.

Process execution

The traditional way to achieve the automatic execution of processes is that an application is developed or purchased which executes the steps required. However, in practice, these applications only execute a portion of the overall process. Execution of a complete business process can also be achieved by using a patchwork of interfacing software with human intervention needed where applications are not able to automatically interface.

In addition, certain process steps can only be accomplished with human intervention (for example, deciding on a major credit application). Due to the complexity that this approach engenders, changing a process is costly and an overview of the processes and their state is difficult to obtain.

Business rules are a growing area of importance in BPMS as these rules provide governing behavior to the BPMS, and a business rule engine can be used to drive process execution and resolution.

Process monitoring

This monitoring encompasses the tracking of individual process so that information on their state can be easily seen and the provision of statistics on the performance of one or more processes. An example of the tracking is being able to determine the state of a customer order (e.g. ordered arrived, awaiting delivery, invoice paid) so that problems in its operation can be identified and corrected.

In addition, this information can be used to work with customers and suppliers to improve their connected processes. Examples of the statistics are the generation of measures on how quickly a customer order is processed, how many orders were processed in the last month etc. These measures tend to fit into three categories: cycle time, defect rate and productivity.