- What is it?
- Why should you implement a BPM Strategy?
- Benefits
- Track Value delivered:
It is difficult to gain new customers, but retaining them and selling additional features can be even more of a challenge.
A BPM COE must have a mission. As humans we are all looking for validation of the work and action we take. In a post go live environment the delivery and sales team will or should look to validate the success or failure of a project. There is a lot that can be learned from either extreme or something in the middle. The result is a strategy moving forward.
The short-term strategy needs to focus on continuously monitoring the value delivered through BPM initiatives. Simply automating and implementing processes is good, but the real gem is being able to contextualize the result. The metrics used may be the same but the presentation of the results will vary and the results need to be made personal for each user. A plant or production manager will relate to a win or loss in terms of throughput quality or inventory improvement. While a corporate VP will relate to ROI or a connection to one of many financial indicators (such as Cost of Good sold (COGS), Working capital days on hand, etc…). An executive could go as high as total shareholder return (TSR). It is critical to calculate and visualize the win (ROI) for each of the business units to understand the benefits. Therefore, ROI should be calculated and published for each process implemented. Only when the value is demonstrated to the business will the business continue to invest into a technology or solution by understanding the true impact.
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