- What is it?
- Why should you implement a BPM Strategy?
Below are some of the key aspects of BPM COE:
- Governance: This deals with system of rules, practices, and processes by which a company is directed and controlled. Corporate Governance balances the interests of a company's stakeholders, including management, staff, customers and suppliers, and also provides the framework for attaining a company's objectives. It may sound straight forward for a small or single departmental process but it gets tricky when the process spans multiple groups or divisions.
- Project Status: CoE (a team that provides leadership, best practices, research, support and/or training for a focus area) can also play a key role in managing the status of various process initiatives underway. Some of them might be going on simultaneously and ensuring that they all meet critical timelines and milestones is important.
- Standards: Standards are critical in ensuring harmony and consistency across organization. This becomes even more critical if a Federated COE model is implemented where individual business units model their processes. In this case COE should establish modeling standards that would be adopted by all business groups.
- Risk reduction: Because of the changing business environment, companies are prone to organizational errors that may affect their efficiency. Having a BPM tool allows management to monitor resource utilization, which is a typical workflow for different processes and their execution. Managers can also spot inefficiencies early on to reduce costs or improve resource allocation.
- Compliance: Many of the procedures followed by organizations have to be compliant with methodologies and norms like ISO. Otherwise, companies can receive diminished ratings, withdrawn certificates, or even financial penalties.
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