Shareholders are frustrated and management cannot seems to understand the reason as the company makes a profit.
Debatable, however understandable, shareholders usually wish to have a higher profit and sometimes can not comprehend the high overhead vs profit. i.e. making a profit doesn’t necessarily mean a success in the eyes of the shareholders, it indeed means the company is on the right track but it doesn’t mean it achieved its full potential. This is where BPM – business process management become an essential tool to a company.
Many companies are facing difficulties making changes, however, changes are great and somewhat essential if are done correctly. It shakes the system and improves productivity, while “getting rid” of wastage.
Companies sometimes are blinded by the ongoing tasks, and cannot see that some tasks are redundant or irrelevant. Business Process Management assist companies to see it clearly, it helps the company notice and avoid waste and increase productivity while optimizing the business processes.
Without a doubt, change is important for any company, without it, companies will lose their competitive advantage and fail to meet the needs of a growing base of loyal clients.
Tools such as business process management system can also highlight the right technology to be used in order to improve and optimize processes in the business. Technology upgrades is a requirement if companies dont want to stay behind their competitors. BPM can also compare between time spent on projects vs costs and between different platform. Providing accurate information and reports to high management, which aids for better businesses decisions which ultimately will lead to company to its transformation achieving its full potential.