Activity Based Costing Can Be Used With Job-Based And Process-Based Let’s Know About Business Process Management

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Let’s Know About Business Process Management

BUSINESS PROCESS MANAGEMENT

Business process management (BPM) is a systematic and business solution approach to making an organization’s workflow more efficient and more capable of adapting to an ever-changing environment. It allows all processes to run smoothly and effectively. It is a path that leads to “process optimization”. BPM sees a business as a set of processes or workflows or we can also say that it is a set of activities that must be performed for the overall development of the company. BPM Software is software that allows companies to model, implement, execute, monitor and optimize their processes.

The goal of BPM is to reduce human error and miscommunication and focus stakeholders on the requirements of their roles. BPM is a subset of infrastructure management, an administrative area that deals with the maintenance and optimization of an organization’s core equipment and operations. To run this infrastructure we need some BPM tools which are as follows:

1. Planning and budgeting

2. Key Performance Indicators (KPI)

3. Balanced Scorecards (BSC)

4. Comparative analysis

5. Business excellence model

6. Enterprise Risk Management (ERM)

7. Six sigma

8. Performance Dashboard

9. Customer Relationship Management (CRM)

10. Performance evaluations

These are the tools or subsystem components residing within BPM, which play an important role in the development of the organization.

BPM SOLUTIONS

Horizontal BPM Solutions:

These are those BPM solutions which can be applied in different industries. Horizontal cadres deal with the design and development of business processes and are generally focused on technology and re-use.

Vertical BPM Solutions:

Specific BPM solutions for a particular sector or type of process. Vertical BPM frameworks focus on a specific set of coordinated activities and have pre-built templates that can be easily configured and deployed.

BPM lifecycle

The BPM life cycle follows a chain of steps which are as follows:

Drawing

Process design includes both the identification of existing processes and the design of processes. Areas of interest include process flow representation, the factors within it, alerts and notifications, escalations, standard operating procedures, service level agreements, and task delivery mechanisms. Which processes should be present or which processes are not required should be done in this phase.

Modeling

Modeling takes the theoretical design and introduces combinations of observations needed for the next steps. Determine how the process might work under different circumstances.

For example: “What if I have 70% of the resources to do the same task?” “What if I want to do the same job for 80% of the current cost?”..

Execution

It deals with how these applications rarely perform all steps of the process accurately or completely. Another approach is to use a combination of software and human intervention; however this approach is more complex, making the documentation process difficult. Business rules have been used by systems to provide definitions to govern behavior, and a business rules engine can be used to drive process execution and resolution.

Monitoring

Monitoring includes tracing individual processes, so you can easily view information about their status and provide statistics on the performance of one or more processes. An example of this tracking is the ability to determine the status of a customer order (e.g. order arrived, awaiting delivery, invoice paid) in order to identify and correct problems in its operation.

Additionally, this information may be used to work with customers and suppliers to improve their related processes. Here Business Activity Monitoring (BAM) extends and expands the monitoring tools generally provided by BPMS.

Optimization

Process optimization includes getting the best out of process performance. It is the most important stage of the BPM life cycle as the main goal of BPM is to achieve optimized processes.

Reengineering

When the process becomes too noisy and the optimization does not recover the desired output, it is recommended to redesign the entire process cycle. Business Process Reengineering (BPR) has been used by organizations to attempt to achieve efficiency and productivity at work.

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