In the world of online and digital business—just like every other industry—there are several steps and processes required to complete the tasks that bring a finished product or service to the customer. The complexity of these processes varies: some functions like responding to customer queries are reasonably straight forward, while others are much more involved. Within this framework, organization is necessary, and this is where business process management companies come in.
- What is Business Process Management?
Business process management is the practice of examining the steps that every business takes to provide the customer with a service or product and looks for inefficiencies and areas with room for improvement.
While this is often applied in-house, sometimes an outside business process management company such as Adapt Solution is enlisted to help with this process.
- Raw Data in Business Process Management
Just as a business takes raw data and uses it to provide its customers with a service, so does a business process management company use raw data to complete its goals of improved efficiency and increased profits. However, for a BPM company, the raw data is drawn from the business practices themselves.
- Online Order to Cash
For example, when addressing an online retail business’ Order to Cash (O2C) process each step, the time they take and the number of employees involved all become the raw data that is then analyzed by the process management company.
Perhaps there is a bottleneck where an invoice is created, sent to the customer, and identified through the examination of this raw temporal data. Further investigation will reveal the reason behind this lag, and a solution can be determined and implemented by the business process management company.
- Social Media Optimization
Another example could have to do with a business’s social media management. The potential raw data could be the number of employee hours spent promoting the business through associated social media accounts versus the number of clients and sales generated through this approach. By weighing these two figures against each other, a process management company will be able to determine if adjustments in the strategy are necessary and where they can be implemented.
The developments in AI aimed explicitly at this aspect of business (i.e., chatbots) make this an area of Adapt Solution online marketing that is especially open to improvements.
- Transparency and Accountability
The heart of a business process management company’s role is to increase transparency by laying bare each process within a business’ functionality. By viewing these processes objectively in terms of raw data, a BPM company can limit waste, increase efficiency and apply best practices by holding employees and managers accountable for the time and resources they use to complete these processes.
Adapt Solution are experts in all areas of business process management companies. To find out more about our company, and how we can help your business, please click here. Alternatively, to know more about the services we offer, please visit our Services page by clicking here.