Technology continues to advance at a rapid rate and with it, we must expand our knowledge base and vocabulary along with it. Many people are familiar with the concept of business process management, or BPM, but in today’s business environment, it is important to become familiar with intelligent business process management or iBPM.
Differences and Similarities
There are a lot of similarities between the two and the main difference is the means with which the processes are managed, evaluated, and changed. iBPM utilizes powerful technology, such as workflow automation, integration with social media, streamed analytics and real-time decision management and other tools gathered in iBPMS (Intellectual Business Process Management Suite). In essence, iBPMS is an evolution of BPMS utilizing new tools and technologies. This type of management utilizes machine learning tools and other powerful technologies.
Benefits
The main benefit of using iBPM as opposed to traditional BPM is the ability to great smarter business processes. But it goes a lot deeper than that as well.
All types of business process management require the creation of detailed process workflows as well as the collection of data for monitoring and improving a given process. With traditional BPM, this meant that actual employees are tasked with gathering, integrating, evaluating, and managing all the data associated with a given process. It is important to keep in mind that most businesses will have multiple processes going at the same time.
With both types of process, data can be easily gathered automatically and integrated into a variety of applications and even make logical decisions based on the workflow process. The software can process and make sense of data far faster and with more accuracy than humans ever can.
Value of Data
The data can be used for insights into how to make a process run smarter. You get information that makes it easier to make smarter, better decision and find ways to best optimize a given process using real-time data. The biggest benefit of iBPM is the ability of involved parties to use the software and data to make more informed decision about a business process that will lead to better results or a more optimized process.
Unique Features
Another great feature of iBPM is that it can be connected with a variety of processes and applications making the implementation of new outside technologies a lot simpler than ever before. It can create synchronization and manage a process across multiple applications and platforms with ease. This cuts down the time it takes to get usable data for analysis significantly.
Not only can iBPM make it easier to connect processes across different applications and systems, but it can also process various events simultaneously and can even take part in real-time decision making. No human can take part in all these tasks at the same time, whereas sophisticated and intelligent software can.
Most iBPM software utilizes the cloud which means the software doesn’t need to be directly installed on each system. It can be accessed remotely and keeps your data safe and secure in the event something happens to your physical office space.
While this type of tool has been around since about 2012, it is just now getting powerful and ubiquitous enough that a lot of major businesses are implementing this over the traditional means of process management. It isn’t a standard across businesses yet, but many believe that it will be in years to come. For businesses who want to leverage technology to their advantage and stay ahead of the proverbial curve, early adoption can be a great idea.
With iBPM, you can provide enhanced analytics, which gives you more information when making important decisions about changing or adapting processes. With the use of cloud-based technologies, the software is available to more people wherever they are, allowing even people working remotely to manipulate the software and make use of the myriad of data. There is a decent variety of these software tools already available, but they become more widespread with each passing year and will continue to improve and become more powerful and useful.
The ability to easily manage processes anytime, anywhere, is an incredibly useful thing, especially if people in your office must regularly travel as part of their duties. The software can manage even the most complex and sophisticated processes and with good workflow design and proper definitions, can make smart, real-time decisions that reduce the time it takes to complete a process, with fewer errors and can streamline your operations.
While most people still use regular BPM, perhaps with the integration of a few automation or other helpful tools, this is a far cry from the potential of intelligent business process management. iBPM gives a company the ability to automate many aspects of business functioning, including certain decision-making processes, even in real-time. The software provides access to a huge breadth of valuable data that can be used to evaluate the efficacy of a given process, troubleshoot, and streamline it as well.
As the software continues to develop, it will become more powerful, useful, and easy to use. This opens up access to the software to a much wider range of people than just those with technical skills, allowing more people involved to make suggestions on how to improve a given process or task. For those who want some of the benefits of being able to test before making a process live and the ability to easily integrate with other systems, consider trying Comindware Tracker today.
