Almost all companies, regardless of size or industry, are drowning in unstructured data and paper documents and are looking to convert it all into useful, accessible and searchable information with the support of bulk document scanning services. It has become inevitable for businesses to undergo digital transformation, which involves integrating digital technology to make fundamental changes to various processes and capabilities and improve the value of products and services to provide a better customer experience. Digital transformation is a major change in an organization and it increases the digital experience at all levels, facilitating more frequent innovations and also increasing risk-taking capabilities. Companies that have already undergone digital transformation provide improved customer experience. They are redefining the ways of doing business while improving efficiency and productivity. As a business evolves, efficient business process management (BPM) is vital for streamlining and improving various processes.
BPM helps align business goals and processes and it supports successful digital transformation taking into account the following important aspects:
- Integration of digital technology
- Leadership and culture
- Customer experience
- Agile processes
- Workforce readiness
BPM helps to improve the symbiotic relationship between people, processes and platforms. Basically, it enables smooth interaction between all aspects of the business for better operational agility and outstanding customer outcomes.
What is the significance of ensuring business process management tools in the present day? Most businesses have applications and processes that are outdated. They have attempted to add new functionalities over the years in an effort to meet new challenges and requirements. However, this has led to a number of issues such as the following.
- Within business organizations, various processes are either poorly defined or understood. This is a major barrier to strategic planning and obtaining insights.
- Often, business processes are inconsistent across organizational or geographical silos.
- Good decision-making is hindered because of the difficulty in measuring metrics and key performance indicators (KPI).
- Businesses find it challenging to innovate or create marketing differentiation because of existing business processes and underlying systems.
- There is often a lack of proper alignment of business processes with strategic goals and objectives.
- Labor-intensive tasks, redundant and/or inefficient steps, or restrictions related to governance/technology organization cause unnecessary delays in business processes.
How can BPM help address these issues?
- BPM helps with innovation and new business initiatives. BPM tools and software enable you to simulate “what if” scenarios and you can perform cost-benefit analysis on various processes much ahead of actual implementation.
- It helps with gaining operational efficiency. You can monitor business activities and obtain end-to-end process view of all costs, people and technology. It also enables monitoring compliance of important processes.
- BPM can help identify consistent and global definition of various processes and provide ways to standardize KPIs for measuring performance. Importantly, it helps to achieve a smooth transition from paper-based to automated workflow.
Business process management is nowadays known as digital process automation. It helps to change the way an organization thinks, makes its products, markets services, buys and sells goods, and communicates with its customers. It is important to understand that BPM is a continuous process with focus on business process improvement. Data entry companies supporting organizations all through their digital journey know that compared to the past when the focus of BPM was on achieving cost savings, adding efficiencies and value to the business, now BPM priorities have shifted to customers. Forrester Research analysts point out that 64% of BPM users are focusing on customer service, 52% at customer on-boarding, 26% at the supply chain and partner-facing aspects, and 25% on finance and accounting. There is no doubt that great customer experiences can be ensured only if the underlying business processes and technology are strong, and this is possible only with digital transformation. Business process management is at the heart of digital transformation and its market is expected to grow from $3.4 billion to $10 billion by the year 2020 according to Customer Market Insights.