Enterprise Process Management – a Business Success Imperative
A majority of businesses have shifted their focus from local to global markets. Enterprises that hang on to conventional manual management techniques are unsuccessful in scaling up to Global Market requirements. Leveraging modern technology empowers businesses to upgrade business operations to meet global market requirements. Enterprise process management enables businesses to optimize their business processes for high productivity and performance.
Drawbacks of Manual Management
During the initial stages of operating a small-scale business, manual management methods may suffice and be a cost-effective option too. However, as business operations expand manual management is inadequate and prone to inaccuracies. Manual systems are people dependent, which means it is prone to errors, overlooks, and bias.
Here are some of the drawbacks of manual management systems:
- Requires more effort and space to track and store paperwork. Moreover, the chances of documents being misplaced or damaged is also high with manual systems
- Prone to inaccuracies, delays, bottlenecks, and misinformation
- Scope for non-compliance is more as there is no standardization of processes
- Incurs ongoing training cost for staff
- Lack of safety and security of data
- Slackened customer service
- Chances of process bottlenecks and delays are more
- Scope for duplication of data, invoices, requests, etc.
Future-ready business strategies certainly cannot be built on manual systems. To differentiate your business and stay ahead of the competition, you need to leverage advanced automation technologies. Automation of repetitive and mundane admin tasks enables employees to focus on productive work. Process automation is not about replacing people with machines or robots, but it is about making the process more effective and easier for people to execute.
Introduction to Enterprise Process Management
Enterprise process management (EPM) is a management system that is built on business process management (BPM) principles, processes, and methods. EPM systems are built for an individual enterprise. Implementing an EPM system ensures all processes are aligned with the overall organizational strategy.
A well-planned and implemented enterprise process management organizes business activities so that business and customers derive financial benefits. An EPM system ensures that process optimization benefits the entire organization and avoids organizational silos. EPM system provides an integrated repository of KPI metrics and process documentation that can be accessed by employees and management.
Apart from simplifying and enhancing business processes, an enterprise process management system also needs to:
Strike a balance between simplicity and customization
Enterprises expect the EPM system to be easy-to-use, intuitive, and easy to set up and operate. At the same time, it must also meet the unique needs of your business. Hence, it should be rightly balanced between being simple and customized.
Scale up to business growth
The enterprise process management system must be future-ready. It must be built for future business expansions and market trends.
Automating repetitive tasks is one of the main functions of an EPM system. The existing process workflows are studied to identify bottlenecks, redundancies, and repetitions. A new digital workflow is designed to eliminate the shortcomings of manual workflows and improve process efficiency. Ideally, phased implementation of the EPM system ensures effective implementation of changes and enables better control and monitoring of new workflows. Post successful implementation, automated workflows need to be monitored and audited to ensure process alignment with business strategy.