Business process management, or BPM, is a methodology used by organizations to optimize their business processes and increase efficiency. BPM 2.0, also known as intelligent business process management, takes this methodology to the next level, incorporating artificial intelligence and other advanced technologies to streamline further and automate processes.
BPM 2.0 is a powerful tool that can help organizations to stay competitive in today’s rapidly changing business landscape. In this article, we’ll cover everything you need to know about BPM 2.0, including its key features, benefits, and real-world applications.
What is BPM 2.0?
BPM 2.0 is the next evolution of BPM business process management, incorporating advanced technologies such as artificial intelligence, machine learning, and robotic process automation (RPA) to further optimize processes and increase efficiency. While traditional BPM focuses on optimizing existing processes, BPM 2.0 goes beyond this to automate and optimize processes in real-time.
Key Features of BPM 2.0
BPM 2.0 incorporates a number of key features that set it apart from traditional BPM. These include:
Intelligent automation – BPM 2.0 incorporates advanced automation technologies such as RPA and AI to automate routine tasks and optimize processes in real-time.
Real-time analytics – BPM 2.0 provides real-time analytics and insights into processes, allowing organizations to identify areas for improvement and make data-driven decisions.
Process orchestration – BPM 2.0 enables organizations to orchestrate complex processes across different systems and applications, ensuring processes are executed smoothly and efficiently.
Cloud-based deployment – BPM 2.0 can be deployed in the cloud, providing organizations with the flexibility and scalability needed to meet changing business needs.
Benefits of BPM 2.0
BPM 2.0 offers a number of key benefits to organizations. These include:
Increased efficiency – By automating routine tasks and optimizing processes in real-time, BPM 2.0 can help organizations to increase efficiency and reduce costs.
Improved accuracy – With intelligent automation and real-time analytics, BPM 2.0 can help to improve accuracy and reduce errors in business processes.
Better decision-making – Real-time analytics and insights provided by BPM 2.0 can help organizations to make better, data-driven decisions.
Scalability – Cloud-based deployment of BPM 2.0 provides organizations with the flexibility and scalability needed to meet changing business needs.
Real-World Applications of BPM 2.0
BPM 2.0 has a wide range of real-world applications across different industries and business functions. Here are just a few examples:
Customer service – BPM can help organizations to automate and optimize customer service processes, from ticket routing to resolution and follow-up.
Marketing – Marketing BPM apps can be used to automate and optimize marketing processes, from lead generation to campaign execution and reporting.
Finance – Finance BPM tools can help organizations to automate and optimize financial processes, from accounts payable and receivable to budgeting and forecasting.
Procurement – BPM can be used to automate and optimize procurement processes, from vendor selection to purchase order creation and invoice processing. A procurement app can be used to automate and optimize procurement processes, from vendor selection to purchase order creation and invoice processing.
Here’s how it works:
Vendor selection – The procurement app uses AI and machine learning to analyze vendor data and make recommendations based on past performance, pricing, and other factors. This helps to ensure that the organization is working with the most reliable and cost-effective vendors.
Purchase order creation – The procurement app automates the creation of purchase orders, ensuring that all necessary information is included and the process is executed efficiently.
Invoice processing – The procurement app uses RPA to automate the processing of invoices, reducing the need for manual data entry and increasing accuracy.
Real-time analytics – The procurement app provides real-time analytics and insights into procurement processes, allowing the organization to identify areas for improvement and make data-driven decisions.
Overall, the procurement app demonstrates how BPM 2.0 can be used to automate and optimize complex business processes, increasing efficiency and reducing costs.
Conclusion
BPM 2.0 is a powerful tool that can help organizations to stay competitive in today’s rapidly changing business landscape. By incorporating advanced technologies such as AI, machine learning, and RPA, BPM 2.0 enables organizations to automate and optimize processes in real time, increasing efficiency and reducing costs. Real-world applications of BPM 2.0 include procurement, customer service, marketing, and finance, among others. The procurement app is an example of how BPM 2.0 can be used to automate and optimize complex processes, demonstrating the power and potential of this methodology.
