Business Process Management (BPM) updates the processes in real-time. It is a process-centric approach for improving business performance that combines information technology with governance methodologies. It is a set of activities that helps the business to run smoothly. These processes begins from company’s activities from the starting stage to the final sales.
The key processes involved in BPM is Risk Management, business process modelling, business process outsourcing, employee motivation and product inventory. It’s main objective is to improve the effectiveness and efficiency of a company’s business and to improve the operational performance.
Advantages :
- Guides users through decisions.
- Automatically prioritizes and routes work.
- Standardizes resolutions across geographies.
- Monitors for business events and initiates action.
- Real-time visibility and process-control.
- Automate key-decisions.
- Improve forecasting.
- Improves productivity.
- Lower Cost.
Disadvantages :
- Does not allow processes to be repeated.
- It has its limit.
- Lack of communication.
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