Business Process Management (BPM)
Businesses have come to realize the importance of analyzing their processes as the key to progression. According to recent AIIM research, by embracing BPM practices, one-third of organizations have decreased their review, and approval cycles, over 60% have improved routing to and between individuals, and 42% have experienced greater organizational agility and routing between processes.
Here are ten more things you need to know about process improvement.
- 79% of organizations say that BPM is significant (45%) or imperative (34%) for the success of their business.
- 96% of organizations agree that BPM is a systematic approach to improving business processes.
- 63% say change management is an essential part of BPM.
- Only 28% of organizations say they are “above average” in automating AP/
- 81% of organizations say there is a clear owner for financial process improvement.
- 77% of organizations say their BPM initiatives are top-down driven.
- 57% of organizations feel that the use of business intelligence and analytics for operational insights improves customer insight and engagement.
- Only 6% of organizations see themselves as “above average” in using AI and machine learning to improve automation
- Only 16% of organizations see themselves as “above average” in managing multi-channel inbound content.
- 56% of organizations believe their greatest value from process improvement, and automation comes from the ability to process critical activities faster, with forty-seven percent reporting a reduction in errors and exceptions.
