In today's business world, the most efficient operation will win. That is why it is important for every company to have the most effective roadmap for how to get the most out of their resources. BPM (Business Process Management) allows companies a framework to get the most out of their workflow. If you don't adopt this in your industry, don't be surprised when your customers start migrating to the competitors. To avoid that fate, and to grow rapidly instead, look at how using BMP can help you:
This is one of the key areas where you can improve instantly. Every company has customer service, whether it is a staff of one or one hundred or more. The key is to empower your customer service agents without letting them waste too much time on the job.
For instance, when a customer orders a pair of sunglasses online and they don't like them, they email the customer service department about their issue. This is likely a standard response in this business. It wouldn't make sense to think of an entirely new response to this issue each time. Therefore, the smartest thing to do is automate this workflow in a low code way so that you don't do the same thing more than once.
The way to make this process a BPM process is to map out what each kind of problem is that a customer would have. Then you can assign a certain response to that issue. The agent then merely needs to select from a drop-down menu which action they will take. It serves the customer faster, cheaper, and easier.
If your costs outweigh your income, your business is going to be in trouble. BPM allows you to identify your workflow and see which parts of your business eat up the majority of the profit. While you might have an idea of which area this is, you could be surprised to find out that it was something completely different. For instance, if you run a restaurant, you might imagine that your food costs are the biggest expense. However, upon further review, you could discover that utilities for heating your kitchen are the highest and that by simply being more efficient with systems of preparation by the cooks you can cut down on high costs.
Looking at customer acquisition
Your marketing team loves to show you numbers that show how many signups or shares they got. But there is one number that matters more than any other when it comes to BMP and your business in the marketing department: the cost of customer acquisition. If you spend $100 and acquire a customer that is worth $1,000 to your company over their lifetime, this would be considered a good investment. However, if you spent that same $100 to acquire a customer with a lifetime value of $70, then that is a waste. BPM gives you a framework to look at these issues and identify if your marketing is truly accomplishing your goals.
Sales are the lifeblood of any company. However, do you know how well or poor your sales process is actually working? The reality is that your sales team could probably be closing deals faster if you looked at the process and stripped out the waste steps. Analyzing all of your business processes can help you boost efficiency by improving productivity.
If you are an owner or manager of a business, then you have to manage your employees, their actions, and the goals of your organization as a whole. Don't let your systems get out of control. Manage them in a way that lets you get the best results with the smallest amount of input. That way you can grow faster than you previously planned and still have room to reinvest back into the business.