Business Process Management (BPM): A Guide for Your Small Business
A smart project manager always plans for unique ideas so that company can progress & do better business. In a sense, you need to have a premeditated process to reduce overall costs, keep productivity consistent and maintain a high-level customer experience.
The market size of BPM was USD 10.64 billion in 2020Fortune Business Insight
This is where the business process management plans should take first place to conquer all these barriers with ease. And this crucial business model will help you design, redesign, and remodel your tactics to stay up to the mark and accomplish your short, or long-term goals.
However, in most cases, business owners think that utilizing the BPM method is a huge challenge. But, it’s essential no matter whether your business is large or an SME. So to help you out, here’s a detailed guide to better understanding your business processes with the help of an automation solution.
Keep reading the post:
What is Business Process Management (BPM)?
It’s a practice of modeling, analyzing, and optimizing end-to-end business processes to improve your strategic business goals. For example, improving the customer experience frameworkRed Chat
In short, we can say it’s a set of activities that helps businesses to run more smoothly minimizing human errors and reducing overall costs. Plus, you can create new models, update the existing ones, and track progress to evaluate results with this process.
However, it varies from business to business and solely depends on your goals and the needs of your business. The BPM method mostly works on three major parts;
- Maximizes cost-efficiency
- Optimizes time-to-market
- Facilitates better customer self-service
These are the business process management examples that you can work on in each part. So depending on your business’s need, do make improvements or adjust your current plans.
Why Businesses Should Utilize Business Process Management Method?
BPM method refers to a systematic strategy to get the best business outcomes in the end. However, if you don’t have any definite process set in line, it can definitely have a negative impact on your project as well as hamper your overall business reputation.
Apart from improving customer experience, optimizing strategies, and reducing cost, the business process management process has many advantages for a business:-
- Gives systematic assistance to minimize expenditures
- Provides you better clarity and direction of your business processes
- Pinpoints operational lacks to grow productivity
- Helps to make the right business decisions
- Tunes workflows to increase operational coordination
Let’s discuss one by one
01. Gives Systematic Assistance To Minimize Expenditures
Every business should have a well-defined budget plan to control overall expenses and avoid costly blunders. And as a business owner, you should have a crystal clear understanding of your resources to allot them wisely and know how to make use of them.
65% of professionals say that BPM technologies help their overall efficiencyRed Hat Survey
The business process management, in this case, can easily guide you to regulate your crucial actions by giving a hawk eye over your current workflows. Even you can figure out what actually do you need to improve, or what you should implement to reduce extra costs for future project goals.
Suppose, you have spent extra costs on one of your projects. And the BPM method will help you quickly balance your overall costs and give you a proper direction to complete your projects in time.
02. Provides You Better Clarity and Direction of Your Business Processes
Running a successful business is solely depends on project tasks. You as a project manager should take proper concentration to check whether your tasks are completed or not. And next, you can come to the next conclusion.
However, it may be challenging drills for a project manager to track project progress with perfection. Even a small business owner could find it challenging to making decisions based on that particular situation let alone big enterprises.
So with the help of business process management tips, you can outline your task workflows from starting to end. As a result, it can remove confusion and make it simpler for your overall team to perform their tasks.
03. Pinpoints Operational Lacks To Grow Productivity
While working on big projects, there is a high chance of ignoring small yet subtasks by the assigned team members of that project. And this could badly hamper the entire project to finish it on time. For example, missing deadlines, forget to update project progress, collaborations, and so on.
But still, there will always be a scope of improvement when it’s about maintaining productivity on the project. Though it can be a little bit challenging but effective in a sense.
Triaster calculated that one of their clients could save over £300,000 per year by improving just one processProcess.ST
So in that case, the business process management can take the lead to minimize issues quickly. This means it can help you evaluate your workflows to see your key deficiencies. And finally, you can come up with more targeted and efficient improvements in your process.
04. Helps To Make The Right Business Decisions
Taking decisions at the right time is the most crucial task for a business owner. And the final decision totally depends on the related people of that company. After everyone marks all the tasks as Done, the owner could come to a final conclusion.
Almost, 95% of projects were completed successfully by using the BPM method. And rest of the 25% success rate for general IT and enterprise resource planning projectGartner
Well, in the case of business process management, you can easily streamline your all processes into a centralized place. As you can track task progress, so you can easily break down the big tasks into small ones to review; recorrect the errors if does have them.
05. Refines Workflows To Increase Operational Coordination
Last but not least, the BPM method is highly effective for helping companies to increase operational coordination by refining workflows. And this coordination will directly help businesses to get a more extensive perception of their existing workflow.
For example, helps to maintain a balance on market trends, quickly consider customer demands, and moreover generate more outcomes in the end.
So this is how business process management helps businesses to grow and get a boost to expand different industrial opportunities.
How WP ERP Ensures Smoother Operation of Business Process Management (BPM)
Well, it’s not easy to just simply have a solid business process management plan and work on it. Because the more your tasks increase, the critical your workflows will be. And surely, it will be difficult to stay on top of them.
Related article: Automate Your Business Management with WP ERP Workflow Module
That’s why you should consider investing in business process management software. This way you’ll not only able to draft new processes faster but also implement them at lightning speed.
So in that case, we’ll show you how to easily you can implement the BPM method on your business workflow using WP ERP, a full-fledged enterprise resource planning system for WordPress users, to streamline all business processes into a centralized place.
- Employee management
- Project management
- Account management
- Customer management framework
- All kinds of reporting
Interestingly, WP ERP meets all these criteria that the BPM method offers. So let’s see one by one how WP ERP could be your ultimate business process management companion.
01. Manage Employee Easier Than Ever
Managing employees and handling their critical matters is the most important task for a business owner. And it’s one of the crucial parts of the BPM model.
And the good news is, the Human Resource Management module of WP ERP is right there to help you. You can handle all sorts of tasks related to your employee with this module.
Let’s shortly check out the key features of WP ERP HR module.
- Simple dashboard: It gives an overview of employees, departments, designations, calendar & announcements.
- Employee overview: You can add new employees from here & view their crucial details at a glance from the employee dashboard.
- Manage departments: Add unlimited departments with details along with their lead name.
- Add designation: Add new designations, edit or update whenever you want it.
- Extensions: Unlimited extensions to power up your business process management
Note: WP ERP HR module has lots of diverse features and functions which come with the pro version. Such as Workflow, Payroll, Training, Recruitment, Document manager, and so on. Using these features HR manager can perform his/her daily HR-related activities with ease.
02. Handle All Projects and Distribute Tasks with Ease
To manage & distribute tasks to related people is one of the crucial jobs for a project manager to do. While completing big projects, s/he needs to technically and smartly hand over the tasks to the co-workers. And this requires lots of time and effort to capitalize.
And we all know that the BPM method is all about breaking down the big projects or tasks into sub-tasks, setting up a small target to achieve it with ease. In that case, the WP ERP Project manager module will allow you to manage all these things including:
- Crafting projects: Create as many projects, tasks and add as many users and clients as you want.
- Communication facility: Communicate through the integrated mailing system.
- Prioritizing tasks according to the deadline: Easy to create milestones of your project needs, assign messages, to-do lists, and to-dos to each milestone.
- Assign team-based tasks: You can decide user roles for each user associated with that project while creating.
- In-built collaboration: You can ask a question from the task page for clarification keeping it fully private.
- Extensions (premium):– Give your team & projects additional pace with the premium modules and improve productivity. Such as sub-task, kanban board, recurring tasks, and many more.
03. Perform All Account-Related Tasks Like a Pro
The accounting department plays a vital role by calculating all financial transactions and accommodating sales data of the company. And The account manager has to be dynamic & super fast to perform all these activities without making mistakes.
In this regard, the WP ERP accounting module is right there to assist you with some unique – features & functions to fully manage your business process.
Let’s check out some of the key features of the WP ERP Accounting module below:
- Intuitive dashboard: To see your revenue vs expenses in this bar chart at a glance.
- Vendors & Customers: Short view your customers and vendors and input their details whenever you want.
- View transactions: Easy to manage and view your current purchases, overdue, outstanding, received amounts, and more.
- Create invoices & receive payments: You can create invoices that dynamically adjust with customers’ accounts.
- Sales Tax: Easy to calculate tax for every transaction with automated tax rate calculation.
- Track Expense Transactions: Handle any expense transaction like purchasing goods in cash, on credit, or in installments.
- Purchase Transactions: Real-time data of total outstanding & paid amounts, over-dues, partial & more with diagrams.
- Extensions: Premium extensions to take your accounting journey to the next level.
To learn more about the accounting module of WP ERP, you can check out the detailed guide below:
04. Design Your Customer Management Framework
Customers are everything for any business in the World as they directly help companies to generate revenues. So whether your business is large or just an SME, you should always have curated plans yet quality CRM strategies to ensure quality customers relationship.
And of course, perfectly executed plans will help companies to handle customers and create a customer-centric framework. Well, in this case, you can consider using the WP ERP customer relationship management module.
Like other modules of WP ERP, the CRM module is also a compact package for small business owners to handle their customer-related activities. So let’s see how the WP ERP CRM module help to manage your business process by the following features:
- Contact management: Add, edit or update the information of your customers, leads, and subscribers.
- Control users with life state: Prioritizing users using life stages, you can respond to contacts according to importance and urgency for greater efficiency.
- Note important Stuff: Add reminders, information, comments, messages, and a lot more to the user’s profile.
- Schedule a Meeting or a Call: Schedule meetings between your customers & representatives.
- Advanced Contact Filtering: Use search sections to create various parameters or requirements.
- Manage Your B2B Users Too: Supervise your business clients, partners & others as efficiently as you do your contacts.
- Extensions: Make the best use of some powerful extensions with WP ERP to process business management smoothly.
Need to know more about the WP ERP CRM module? Here is the detailed guide that you can consider watching:
05. Prepare Essential Report
Preparing reports at the end of the month is an essential task for every department of a company. And this skill is also an undeniable part of business process management.
Quality and good report is straightforward, includes no complexity, and has clear-cut details. And this will help anyone to get a glimpse of what was going around the month.
Well, in this case, WP ERP helps you to generate reports with just a single click. Let’s check out the reporting features of WP ERP that will expand your reporting experience to the pro level.
- Advanced Reports with Insights (Project manager): Get better project insights with advanced reports for overdue, completed tasks, user activities, milestones, and all projects.
- HR report: Reports based on employee age & gender, headcount, salary, year of service & attendance.
- Accounting Reports: Prepare reports like a ledger, trial balance, income statement, sales tax, and balance sheet.
- Activity report: CRM activity report including customers & business growth
- Inventory report: Manage your store inventories & create reports like Product Purchase, Product Sales, and Inventory reports automatically
To give you a short idea, here is the tutorial video of preparing a journal & ledger report. Hope you find this video effective and helpful.
So this is how you can utilize WP ERP for your business to streamline all your tasks and uplift your business growth to the next level.
However, if you want to get more insightful & latest blogs regarding current business trends, you can subscribe to the WP ERP blog now.
Some FAQ Involving Business Process Management System
Examples of processes that might be designed and improved using BPM software include: employee recruitment, prepare reports of expenses, managing projects, and tasks
There are 5 major steps in business process management. And here are they:-
The BPM is basically used to improve the ongoing business projects or tasks. Plus, it helps to develop the order, insight, and efficiency of the collective workflows.
There are three types of business processes and they are:
Process management tools are used to create a smart path to optimize business processes. Such as you can model, implement, and automate your business workflows with the goal of improving collaboration with your co-workers.
Final Words On Business Process Management
Applying business process management strategies somehow seems to be a challenging task but useful in most common scenarios. We hope that this post will help you to grasp all the details about the BPM method and its perfect execution.
So, once you’ve planned your business process management strategies and decided to utilize a reliable and complete business management solution like WP ERP, then surely your business is ready to perform getting rid of all human-made errors.
So what do you do to manage your business process? If you have anything to add, then feel free to drop it in the comment section below.
Also, if you are curious to know more details about WP ERP and how to utilize it in your business, then you can always get in touch with our support team.