There used to be a time when the business environment used to be largely static, but with the dynamically changing times today and given the enormous competition in the market, change is the only constant now in every area of business. This demands changes in the business processes, which in turn gives rise to process automation and in turn finally to the term Business Process Management
What is BPM?
A process and management discipline to analyze, re-design, implement, document, monitor, control, and measure both automated and non-automated components of a business.
BPM enables the organization to be more efficient, effective and flexible. Its definition varies in different sectors.
BPM goes through the below stages of its life cycle:-
Critical components of BPM:
Process engine – a robust platform for modeling and executing process-based applications, including business rules
Business analytics – enable managers to identify business issues, trends, and opportunities for reports and dashboards and react accordingly
Content management – provides a system for storing and securing electronic documents, images, and other files
Collaboration tools – removes intra- and interdepartmental communication barriers through discussion forums, dynamic workspaces, and wikis, message boards
Business Process Management Systems (BPMS) are a new family of software systems that automate and simplify the task of managing business processes over the entire lifecycle.