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Business Process Management (BPM)
Business process management (BPM) is an organized method for overseeing ongoing, repetitive, predictable operations, and procedures that are essential to a business. BPM is often confused with project or task management, but the terms are not interchangeable. BPM monitors and analyzes the core models used for overall business success based on hard data. Project management, on the other hand, is used for specific workflows that take place as needed within the business structure. BPM also analyzes variables by incorporating sets of rules and standard fallbacks or alternative plans. It is often aided by the use of technology and software.
What Small and Midsize Businesses Need to Know About Business Process Management (BPM)
SMBs can save time, reduce errors, and increase productivity and profit by organizing and defining their BPM. For example, a growing home construction company could save money by evaluating marketing and sales processes and determining customer acquisition costs.
Related terms
- PDM (Product Data Management)
- Project Management
- Gain Sharing
- Small and Midsize Business (SMB)
- Business Process Automation (BPA)
- Human Capital Management (HCM)
- Best Practice
- Business Process Management (BPM)
- Business Impact Analysis (BIA)
- Track And Trace
- Digital Business Transformation
- Bimodal
- Span of Control
- Solution
- Business Process Re-engineering (BPR)
- Enterprise Solutions
- Growth Strategy
- Project Management Office (PMO)
- Business Process Outsourcing (BPO)
- Line Of Business
