Posted by: Derek Weeks on: February 20, 2012
Inefficient processes can make or break your organizations ability to succeed. Each year organizations dish out hundreds, even millions, of dollars leveraging the wrong resources to try and improve ineffective business processes. Companies that are unable to adapt to new industry regulations, changing business models and competitor innovation are facing the reality of failure. The bar is set high and now more than ever, consumers expect (and often demand) more from organizations.
As business leaders look past slow-to-change packaged applications and towards new ways to improve mission-critical processes, many organizations have started to embrace business process management (BPM) technologies. While the adoption of BPM suites increases each year, many organizations have yet to realize the rich benefits they can achieve by extending their BPM implementation beyond its traditional cost-cutting focus.
Not surprising, Clay Richardson, senior analyst at Forrester refers to some of the major benefits of process automation as low-hanging fruit – which includes for example, the elimination of bottlenecks – such as data entry duplication – to increase operational efficiency. Other benefits include the ability to quickly and effectively respond to compliance and process change, improve worker productivity, and increase collaboration between business and IT.¹ However, as an organization’s understanding, awareness and use of BPM matures, many key stakeholders begin to realize they can leverage these tools to continuously improve and transform their business.
BPM has the potential to deliver significant ROI and transform your organization. According to Forrester Research, many organizations who have achieved significant success have shifted their BPM priorities from reducing costs to improving customer experience and increasing value innovation. These companies see a tremendous return on investment in the form of increased competitiveness, customer growth, accelerated time to market, and improved operating model flexibility.
Organizations have the ability to continuously improve and change the way they operate by using BPM. With the right information, resources and team, businesses can achieve a strategic advantage over the competition. If you’re interested in learning more about identifying and measuring the ROI your organization can achieve from BPM, I encourage you to join Clay Richardson, Nathaniel Palmer, and Donna Tellam on Tuesday, February 21st at 11:00 AM EST for a free webinar on Unlocking the Secrets of BPM ROI. You may also click here to access a free copy of Forrester’s ROI of BPM Suites report.
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