Companies perform different steps to implement BPM. It is noted by some experts that the five-step model (design, model, execute, monitor, and optimize) is quite popular along with models containing six or more steps using different names for the steps (analyze, model, implement, monitor, manage, automate).
Ideally, Process Management deals with monitoring and optimizing existing processes along with analyzing the scope of new processes. Usually, companies use manual work steps to handle BPM. But with digitization, can such processes be bound by technology?
The answer is yes! Automation of the BPM process has been shown to increase the profitability and customer focus in many companies as it focuses on optimizing process quality.
Modern technologies like “Robotic Process Automation” and “Artificial Intelligence” have contributed to automating BPM processes to a great extent. RPA process automates the manual, repetitive process that primarily focuses on classic administrative tasks. AI on the other hand evaluates unstructured data and performs a subsequent analysis. Hence, such processes get implemented can reduce the manual dependency of employees and utilize such resources for more value-adding activities.
Hence, integrating AI and RPA with the BPM process will create new business models with the main role of optimizing business processes.
Implementing the BPM process in businesses can result in a high return on investment. This can be illustrated with the below examples:
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