Compared to 50 years ago, today the usage of computers are incorporated into all kinds of businesses, regardless of size. With ever increasing globalization the amount of data generated for companies to scan through to increase and leverage their businesses globally has increased by many folds. Many companies are proving to be inefficient due to the large amount of manual work. Manual work distracts from coordinating amongst different departments whereas tracking progress becomes a major issue. Here, comes the role of Business Process Management software. BPM software throws light on processes, brings clarity and helps track the progress.
Once the efficiency of the business improves, the effectiveness of the execution also increases. The exceptions are quickly taken care of. Decision making is well informed and consistent. One critical challenge today faced by the companies is 24/7 communication across geographies which enable them to collaborate and achieve company’s goals and mission. BPM software addresses this problem.
BPM Software has various purposes:
- Document management/sharing: This feature of BPM suite is now not much sought after as cloud-based entities like Dropbox allow integration with business software systems.
- Email integration: There are already numerous options for chatting but to communicate with clients partners and suppliers this feature of BPM is still required.
- Billing/Invoicing: This is the feature of BPM which deals with generating revenue. BPM suites have a built-in feature of billing.
- Visual Workflow map: Managers can easily create a workflow by using drag and drop workflow editor. This helps a lot in conceptualizing and easy modifications of the workflow.
The competitive advantage of business process software
In this technologically evolving world, you should be open to change and adapt quickly. This ability in a competitive business environment makes the company survive as well as adapt. Every day a new business opportunity forces you to modify the processes you follow. The methods have changed to adhere to a new customer need or any new regulations internationally/nationally. A good BPM software helps make you quick and smooth changes throughout these processes. The use of BPM makes your company competition ready and flexible.
Enhanced benefits with cloud-based business process management software
The world is moving at a greater pace. Upcoming technologies respect no barriers. The emergence of cloud-based software has made many technologies redundant. Business process management also utilizes the benefit of cloud computing. Enterprises worldwide has welcomed the cloud-based BPM software with red carpet acknowledging its applications in streamlining business processes.
A cloud-based BPM software enables a significant transformation of enterprise’s operational model across its various dimensions. Cloud-based BPM has potential to transform the business across external parameters like customers, stakeholders, and partners. A consistent architecture across systems and processes help leverage the business activities without many expenses. Cloud-based BPM can focus on core competencies very well while other tasks can be outsourced.
Investors feel more confident as the time required to implement BPM model in the cloud has drastically reduced to a few days. The consistent architecture across various business processes ensures centralized control. Hence there is an ease of access to information. The decisions become more data centric.
Cloud-based business process management software comes with a great speed of access. This feature makes it possible for companies to try BPM quickly without any hassle. In addition to it, SaaS or software as a service has adopted a subscription model of pay per use.
- Cloud-based BPM is low cost. There is no requirement for download or any installation. You are required to pay a fixed monthly charge. This fee is very much in the budget of even small businesses. You don’t need to create any additional infrastructure for a cloud-based BPM.
- Cloud eliminates the requirement of any specific software skills. It makes it easy to configure, and without any consultant, you can start monitoring your processes with BPM.
- One of the features of cloud-based BPM is that it allows the use of mobile to control various business processes.
Billing system automation as example of cloud BPM software
We can quote automated billing system as the best example for cloud-based BPM software. In having more control and agility in billing, many businesses seek automated systems for time tracking and invoicing where they can create digital invoices based on the billable hours and send it to the client for payment approvals. With automated workflow on the cloud, it becomes easy for businesses to process large volumes of invoices with a minimal workforce. BPM will automatically save the company time, money and reduce the chance for human errors.
By moving billing process to a cloud, businesses can have the invoicing & client payment data available over the internet in a centralized computing platform. Having a cloud-based system increases the speed of invoicing activity and gives every relevant person a real-time overview of billing-related data. A cloud-based billing system takes care of everything, from calculating the invoice amount to sending automated overdue invoice reminders. It reduces work chaos, maximizes productivity and improves the overall effectiveness of various business activities.