Business Process Management Flashcards, test questions and answers
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What is Business Process Management?
Business Process Management (BPM) is the practice of systematically analyzing and optimizing business processes in order to increase efficiency, reduce costs and improve customer service. BPM involves a comprehensive approach that combines people, process, technology and data to standardize, automate and measure business processes. It enables organizations to continuously analyze their processes and make improvements as needed.The key benefit of BPM is improved operational efficiency. By eliminating manual tasks that are prone to error, BPM can significantly reduce cycle times and costs associated with completing tasks. Additionally, the automation of processes can improve accuracy by reducing human error due to data entry mistakes or misinterpretation of information. Furthermore, through visibility into the entire process from start to finish, organizations are better able to identify areas for improvement or opportunities for cost savings.In addition to improving operational efficiency, BPM can also help organizations provide better customer service by allowing them to understand their customers’ needs more quickly and accurately. By automating routine tasks such as order entry or customer information updates, companies can respond faster than ever before while ensuring accurate information is provided each time. This level of responsiveness gives companies an edge in the competitive marketplace while providing customers with a positive experience each time they interact with them.Finally, BPM also offers organizations increased flexibility when it comes to adapting their operations for changing business conditions or market demands. Through automated workflows that allow changes in process steps without requiring extensive re-coding or manual intervention; companies are able to rapidly adjust their operations as necessary without sacrificing performance quality or speed of execution.