Business Process Management is emerging as one of the appreciated variables in the delineation of high-performing organizations dealing with IT projects. However, the process of business management faces some fundamental challenges unlike other variables like products, services, customers and employees.
Mathew Kirchmer, MD at Accenture, gives his views on value-driven BPM and its contribution to corporate values as a crucial link which has to be maintained. .
Values of BPM
A research study by Accenture identifies transparency as the core value of BPM. Transparency enables a better understanding of processes and this comes as an advantage while making significant managerial decisions.
The next widely identified value of BPM is its competence in mitigating business conflicts. An explicit understanding of values like compliance, efficiency, integration, agility, quality and networking is critical, and these do not limit BPM initiatives.
Value-driven BPM also allows businesses to streamline their processes and contribute to increased quality of products.
Role of Value-Driven BPM in successful implementation of IT projects
IT projects when implemented successfully can generate high revenue to the organization, but there are also risks involved in implementing a project. However, organizations that use BPM to convert their strategies into execution will benefit more from IT projects.
The improvements in IT and people-based initiatives are integrated and falls in a category of management called value-driven BPM. Value-driven BPM enables organizations to focus on the right areas, and this includes innovation and optimization of processes.
Technological innovations are on a rise today, and innovations in cloud computing, software services and other unique platforms offer businesses more technological flexibility. However, these technical capabilities need to be managed properly to achieve the desired results. Value-driven BPM can offer the needed transparency to achieve proper results.
Value-driven BPM provides a proper structure for businesses and IT projects to work. The strategy of the right business management can help them identify the right impact and targets for creating value.
Value-driven BPM also presents businesses with the right tools, methods and processes to implement an IT project in a successful way. BPM adopts people focused approach and IT projects can absorb this value from BPM.
Value-driven BPM can describe and optimize the processes in IT projects and explore processes that are critical to value creation and regulate those processes. Organizations find it difficult to classify diverse processes and implement projects successfully, but Value-driven BPM can help businesses achieve this objective.