BPM Analytics

Driving business process innovation for competitive advantage

During business disruptions, do you react and make small tweaks or think big and innovate to become a trendsetter? If you are still playing the survival game, your competitors may surpass you soon.

Businesses with global supply chains face repercussions of events such as the pandemic, the Suez Canal blockade, cyber threats, war, sanctions, and geopolitical instability. According to an estimate by the Organisation for Economic Co-operation and Development (OECD), just one month of global confinement causes losses of up to USD 1.7 trillion.

Business process innovation saves the day for you during such disruptions. This article explains how business process management (BPM) services drive innovation and its key characteristics.

How does BPM drive innovation?

To become a driver of innovation, BPM works beyond mere enforcers of processes and introduces new approaches and perspectives which bring forth unconventional solutions to boost the organisation’s performance even during market disruptions.
New-age BPM envisages the future and works backwards to design and implement new processes and innovations. To do this, BPM incorporates Continuous Process Improvement (CPI) methods such as Lean Six Sigma to enhance agility, efficiency, and visibility.

BPM software helps improve business performance by analysing, designing, controlling, and implementing processes. It improves staff productivity through automation that helps in quick responses in challenging situations.

Key characteristics of business process innovation

Businesses must have clear indicators that show the presence and effectiveness of business process innovation. Its key characteristics are –

Strategic alignment with goals

Business process innovation must align with the larger organisational goals. The BPM strategy first visualises an end goal and then works backwards. The focus should be on critical processes that directly impact business success and set your business apart from competitors.

Holistic view

Rather than making siloed improvements, business process innovation takes a holistic approach that impacts the entire supply chain. In an end-to-end process, a change in one part of the supply chain positively impacts the others in the organisation.

Creative thinking

Business process innovation is not shy of challenging traditional ways and adopts creative ways of doing things. It questions preconceived notions and encourages the management to adopt new technologies, methods, and approaches.

Customer-centric approach

BPM transforms the organisation and its services by adopting a customer-centric approach. It understands each customer’s needs and provides a customised solution to improve their satisfaction and loyalty.

Process optimisation

Business process innovation aims to enhance operational efficiency to streamline workflows, reduce redundancies, automate, and implement technologies to optimise the processes. Face the market disruptions powerfully through process optimisations and innovations using BPM.

Agile processes

Create business processes that are agile and adaptable to sudden change. In a dynamic business environment where global events can impact your bottom line, your business must proactively detect the impact and respond quickly.

Technology integration

The technology BPM brings in must help you simplify the processes and collaborate and integrate with internal departments and external agencies. This could include data analytics, artificial intelligence (AI), machine learning, robotic process automation (RPA), etc.

Cross-functional collaboration

Through technology integration, business process innovation integrates different departments and functions. This collaboration brings diverse perspectives to the table, thus contributing to the development and implementation of innovation.

Risk management

There is a risk in changing existing processes, which deter the management from doing so. However, with thoughtful risk management strategies, BPM ensures a smooth transition without potential negative impacts.

Metrics and KPIs

Setting up key performance indicators and metrics is essential to measure the success of business process innovation. Businesses can quantify the impact of newer innovations and process changes and make data-driven decisions.

Compliance and legal consideration

The business process innovation must comply with the regulatory and legal compliances that apply to your industry. BPM should meet the industry’s financial and quality standards and data protection laws applicable in your country.

Continuous improvement

Innovation is a continuous and iterative process wherein the organisation adopts a culture of regularly assessing, optimising, and improving the processes. This helps not only during disruptive events but also in staying ahead of the competition.

How can Infosys BPM help?

Infosys BPM delivers a digital framework with cutting-edge technology transformation through AI, ML, RPA, and analytics tailored to your industry. The business process innovation helps you face disruptive events powerfully and stay ahead of competitors.

Read more about bpm services at Infosys BPM.

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