Business Process Management recent study by Milton Keyne Research shows that organizations using business process management applications get an internal rate of return higher than 15%. A BPM tool emphasize on providing automation, execution and managing all your business processes which also provide your employees/users for better quick & perfect decision.
A BPM tool allows your organisation to improve the service levels it gives you an overview of the organization of what is happening in the internal business and what actions a manager can take for further development, thus it give your employee the strength to reduce the errors in the execution of any process.
Apart from reducing the errors, it also allows you to promote the transparency of your Business processes, and that is the reason which helps organisation to receive the Higher returns. Some of the supportive points to the Keyne research are provided below to how a BPM can increase the internal rate of return positively for an organisation?
A BPM/Workflow management tool helps you to save the time, Money and increase the organizational goals through process modelling, process management and automation. Also BPM integration provides you with integration of your existing application such as a Customer Relationship Management (CRM), Enterprise resource planning (ERP), Human Resource Management (HRM) and so on. . Which ease the duplication of the entries in other systems.
A BPM allow you to improve the quality of work apart from saving the time and money as a BPM application reduce the loss caused through loosing the documents, filing error, etc which again helps in reducing the time and other losses in an organisation.
Automation of Business Processes in an organisation provides the employee/users of the duties to be performed on time with no delays and less pending activities.
Process Optimization is a possible step where a Business process management tool enables an organization to discover their hidden potentials by modifying their current processes which in return allows a high internal rate of return.
A BPM covers every aspects of your Business process stating from Research & development to sales and Marketing, Human resource, Accounting etc. It allows you to have a continuous process optimization, standardization, waste management etc