TriBeacon, LLC

Description

Business Solutions What is Business Process Management (BPM)? BPM is a management discipline which allows organizations to capture, analyze and communicate process and performance information. It is a holistic management approach that promotes business effectiveness and efficiency while striving for innovation, flexibility and integration with technology. Business process management aims to continuously improve processes. It could therefore be described as a "process optimization process". Why is BPM important to you? An old accounting adage states that "you can't manage what you can't measure." BPM encompasses the processes and tools that allow you to manage, improve and measure your business. Particularly in today’s economy, without a BPM strategy you are at risk. Inefficient processes can lead to lost customers, eroding market share, and reduced margins. On-going efforts to improve processes that satisfy customers and improve operational effectiveness are essential competitive advantages. The current regulatory environment often demands that up to date documented and measured processes be a critical component of business operations. Without a good BPM strategy, you may be operating at a reduced speed in today's fast-paced and unforgiving world. BPM is critical if you are going to respond to the following types of challenges: Market pressures Regulatory and competitive pressures in today's market have intensified the need to implement an effective BPM solution. These solutions are essential to your company's survival and success. Need for repeatable, predictable and sustainable processes The need for repeatable and predictable processes for managing operations and performance is a key reason why many business leaders have pursued best-in-class business process management solutions with renewed vigor. BPM technology systems will help you establish these processes. Knowledge retention and workforce alignment with corporate goals BPM software helps your company gather, document and improve key business processes with less concern for lost productivity due to changes in the workforce. The result is a sustainable knowledge database that enables everyone to work from the same set of goals and procedures. At the same time individual employees' efforts become more tightly tied to your organization's overall strategic goals Need for non-financial metrics It has become increasingly important to track non-financial aspects of corporate performance. Companies have grown acutely aware of the importance of non-financial metrics such as customer satisfaction, product or service quality, and operational performance, as either critical or important drivers of success. BPM solutions allow you to accumulate, analyze and leverage key metrics. Regulatory requirements Because of the complexity of many regulatory rules and laws, companies are turning to BPM solutions to help document and manage their compliance activities. Specifically, having a strong BPM strategy is critical in order to meet the demands of regulatory requirements such as Sarbanes-Oxley, FDA and environmental and labor requirements.

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