Which of the following statements best describes business performance management (bpm)?

What are the various types of business process management?

BPM systems can be categorized based on the purpose they serve. Here are the three types of business process management:

Integration-centric BPM

This type of business process management system handles processes that primarily jump between your existing systems (e.g. HRMS, CRM, ERP) without much human involvement. Integration-centric business process management systems have extensive connectors and API access to be able to create processes that move fast.

Human-centric BPM

Human-centric BPM is for those processes that are primarily executed by humans. These often have a lot of approvals and tasks performed by individuals. These platforms excel at a friendly user interface, easy notifications, and quick tracking.

Document-centric BPM

These business process management solutions are required when a document (e.g. a contract or agreement) is at the heart of the process. They enable routing, formatting, verifying, and getting the document signed as the tasks pass along the workflow.

Most business process management systems will be able to incorporate elements of each of these, but each one will usually have one specialty.

Business process management examples

HR

Have you ever felt your organization’s onboarding process is too complex and chaotic? Is your HR department asking the candidates to fill out paper forms that make them exhausted? This is because your HR department lacks the principle of Business Process Management (BPM). Applying business process management, helps you automate your HR processes end-to-end, thereby cutting down on cost, time, and paper forms. Here are a couple of examples as to how business process management helps your HR department to improve their processes:

• Approve employee timesheets faster
• Onboard new hires without hassles

Sales

In most organizations, the sales team spends a significant amount of time in coordinating with the Accounts Receivable (AR) team, to get sales invoices approved. Even a small typo in invoices, ruins the lives of the salespeople. This is where business process management comes into the picture, since it automates the invoice approval process, thereby eliminating the chances of manual errors and the back and forth clarifications between the salespeople and the AR team. Here are a couple of scenarios in the sales department, where business process management can help them streamline their processes:

• Shorten your sales cycle workflows
• Be on time with quotes and invoices

Finance

A finance team is bombarded with paper forms and emails every day since anything that involves money has to go through them. For instance, if the asset management team wants to purchase 50 laptops, they send the quotation that they received from the vendor to the finance team for approval. This is just one case. Imagine, how many emails and paper forms they receive on a daily basis from various teams. Without a system in place, it is cumbersome for them to manage all of these. Business process management (BPM) software helps them manage all of this. Here are a couple of scenarios in the finance department, where business process management comes as a saving grace:

• One-click approvals for travel requests
• Customize workflows for unique scenarios

Learn more about Project vs Process

Features every competent business process management tool should have

Now that you know why exactly a BPM system is necessary, here’s a list of the features a good business process management system should have.

• Visual process diagramming tool
• Drag-and-drop form designer
• Role-based access control
• Mobile support
• Powerful administrator features
• Single sign-on (SSO)
• Integration with existing software systems
• Reports and analytics
• Performance for large user bases
• Process performance metrics

Read this article for a detailed explanation of the above features of a good business process management system.

What are the benefits of incorporating business process management?

Here are some of the primary benefits of using BPM in your business:

• Gain control of chaotic and unwieldy processes
• Create, map, analyze, and improve business processes
• Run everyday operations more efficiently
• Realize bigger organizational goals
• Move toward digital transformation
• Improve and optimize tangled operations
• Closely track individual items as they move through a workflow

Is BPM really expensive?

Usually, yes. Business process management (BPM) systems can get quite complex. Installing an on-premise solution might cost more than $250,000 after technology and consultant costs are included. But Kissflow Process starts at just $390/month to make BPM much more affordable. Plus, there’s no extra fees for support. Pick a process that has been hard for you to automate and get started with Kissflow today.

Which of the following best describes Business Performance Management BPM )?

Which of the following best describes the term business analytics?

Which of the following statements is true of predictive analytics?

Which of the following is best describes the purpose of business intelligence?