Understand how you can improve your business-critical processes
We can define business processes as a set of interconnected tasks that meet their end in the delivery of a product or service to a customer. A business process has been defined as a set of activities and tasks that, once completed, will reach the organizational goal.
All processes should have an input and a single output clearly defined. These inputs are composed of all the contributing factors (whether directly or indirectly) for the added value of a product or service. These factors can be broadly classified into management processes, operational processes and support processes.
Business Value Dashboard of a Financial Process
Management processes regulate the functioning of the operating system of an organization. Operational processes constitute the core business. Support processes, such as human resources and accounting, are put in place to support the main processes.
The importance of business processes
There are at least three strong factors that define the importance of business processes:
1. Processes make a business much more competitive: companies with well-defined processes are more able to assess their strengths and weaknesses and identify opportunities for improvement. In addition, they can improve the quality of their products and services and deliver them more consistently to their customers, increasing customer satisfaction and loyalty.
These companies are more able to cope with the unknown and react quickly to changes in the competitive landscape. In short, they are able to know when they are doing the right things, and can more quickly change course when something is coming out wrong.
Business Value Dashboard of an Industrial Process
2. Processes enable the operation of a non-disruptive operation and boost growth: to leverage defined processes, it becomes easier to deliver new products and services quickly and efficiently, without “reinventing the wheel” all the time. Processes provide a model for new employees, and allow quick training to minimize business disruption in cases of sickness or turnover rates.
If you look at the productivity factor, the processes are also great motivators for increased scalability. They should always be adjusted so that the “do more with less” is not just a speech.
3. Processes boost profitability: a company with well-defined processes can find opportunities to improve efficiency without sacrificing quality and consistency. It can identify duplication and find out what areas are being neglected.
With well-designed processes the value of everything that is done in the company is maximized, ensuring that it can be used elsewhere; ultimately, saving time and money.
The importance of monitoring business processes
With the aid of technology you can monitor business processes. And this is very important, because only through monitoring it is possible to diagnose, identify faults and problems and make corrections in a timely manner.
It is possible, by means of indicators monitored with technological solutions, to control information production levels, energy capacity, impact analysis etc. With that, scaling of resources can be optimized, costs can be reduced and the quality of services and products can be improved. It is important to remember that the monitoring of business processes must be a constant practice, which forms part of the organizational culture.
Business Value Dashboard of a Hospital Process
For the monitoring of a business process to be carried out, it is vital that the information of your company is systematized in some way, usually saving data into a database. This way, monitoring systems can read this information and present them in dashboards, for example. The information (indicators) contained in dashboards should be chosen carefully, as they will serve as a basis for your business analysis. Want to know more about it? Then visit our post about process monitoring in each area of the company.
Your company already monitors business processes? Check out how OpServices can help you, click here! You can also contact us!