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One of the themes from last week's BPM in Banking was that many companies were looking beyond cost cutting and into how BPM can help them drive business revenue. So in your experience, what are the key ways BPM can help drive revenue?
Thursday, October 09 2014, 09:49 AM
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  • Accepted Answer

    Thursday, October 09 2014, 10:08 AM - #Permalink
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    Let me just start off with one example. BPM drives revenue by getting products to market faster. In working with one pharmaceutical we cut the time it took for regulatory compliance approval for a new product 3 months. That meant revenue was flowing in sooner.
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  • Accepted Answer

    Thursday, October 09 2014, 10:31 AM - #Permalink
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    A business is a process to turn an idea into money. A process is anything you do more than once. If you repeat it, you can improve it. The first step in improving anything is understanding it. How long did it take? How often did it go wrong? What resource was used up? Did it satisfy the customer? Traditional process methods didn’t give you this information. Someone had to guess or work it out. Since that took a long time, they only did it once. So the process was a snapshot in time, based on a small amount of research. And, since it was someone’s guess, it usually caused arguments or resistance. BPM changes that. Processes are now software. Instantly changeable and checkable. Every time any part of a process occurs, there’s data. Lots of it. Immediately. How fast, how often, how much resource – everything you could think of. So everyone can see at a glance where improvements can be made. No more arguments. And you can test. Make guesses and see if they work. Try them in different conditions. Compare them back to back with other guesses. And see if new ways are better than old ones. So you can take the biggest problem every day and reduce it. Try something new every day and see if it works. Together they mean your best guess process is only the start. Every day it gets better. Faster, cheaper, more reliable. And if customer needs change, your process will too. So you turn your ideas into money more efficiently. It really is that simple.
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    • John Morris
      more than a month ago
      Nicely put -- and interestingly the visuals on the above paragraphs make the material look like a poem. I was almost expecting a rhyme or two . . .
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  • Accepted Answer

    Thursday, October 09 2014, 10:55 AM - #Permalink
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    Client Onboarding. Decreasing the time needed to bring on a new client allows you to quickly increase the amount of revenue at your disposal for investment if you are a financial services firm. More clients and more dollars to invest means more and faster revenue generation.
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  • Accepted Answer

    Ian Gotts
    Ian Gotts
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    Thursday, October 09 2014, 11:36 AM - #Permalink
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    Customer Experience and Agility are the only areas sustainable competitive advantage. Both require strong process disciplines. Focus on these and the revenue will flow
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  • Accepted Answer

    Thursday, October 09 2014, 02:50 PM - #Permalink
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    Agreeing with Michael, "client on-boarding" is a popular path towards increasing revenue - and, reasonably supported by BPM systems. There's also campaign management - similar to on-boarding. Regarding agility... there's some irony here given the methods often employed on BPM projects. Frequently lost in the big picture is an implementation supporting both measurement/reporting and its follow-through on agility. This being a hot topic as early adopters are now straining under the weight of schema and process evolution (migration).
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  • Accepted Answer

    Friday, October 10 2014, 06:41 AM - #Permalink
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    Agree with the general consensus it is all about “engaging” the customer and with a good user experience supported by well thought out processes to cover all eventualities and well designed web forms for logical easy use is just common sense? Now as the BPM movement grows and is supported by good software it can really contribute to implementation of this key strategy for any business to maximise opportunities to see revenue growth and of course minimise loss of customers to competitors! Always remember differentiation is where the competitive edge is gained and that will require constant review and change – again something that historically has been a challenge for traditional “IT!
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  • Accepted Answer

    Friday, October 10 2014, 08:51 AM - #Permalink
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    While I agree with all commenters above, I am going to step back and take a bit of a broader look. I believe in today's highly competitive world, approaches like Customer Experience and Agility sound increasingly shallow. Yes, everybody wants to do that, until they actually get busy with something else. I tend to believe that the only way to consistently drive revenue (and value) is to continue to iterate, prune and refresh your business model. More and more the "fabric" of any business is being virtualized. Still in a chaotic way for most of the business models, sometimes just for the sake of being virtualized. I believe any system and method that contributes to a consistent digital fabric for a business will make up a truly agile business model, that can be assembled, dismantled and re-imagined at own will or at the environment's pressure. Currently I see there any system that supports decision-making and implementation (be it BPM, CM, ECM, SOA, ERP, DM etc) falling into this category - if orchestrated (not only architected) properly, they will be the ever-mutating DNA of the future enterprise. And then sustaining innovation (the slower, dumb-looking, but actually richer sister of disruptive innovation) will increase its velocity.
    • John Morris
      more than a month ago
      LOL everyone wants to do Customer Experience and Agility -- "until they actually get busy with something else".
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  • Accepted Answer

    Saturday, October 11 2014, 06:56 AM - #Permalink
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    Unless everyone now proposes that ACM is the new world of BPM, I am stunned. But how BPM is described in the responses does not point to an ACM approach. As always there are these bogus claims of agility through BPM. Tell me how long in reality the bureaucracy cycle needs to do anything new? Something new every day? You must be joking or delusional! A current orthodox BPMS does not improve the following: 1) How often did it go wrong -- because the process is enforced, it can't go wrong. All exceptions happen outside the BPMS. 2) What resource was used -- that is known before the process is executed, so why is it not done right upfront? 3) Did it satisfy the customer -- there is no such functionality in any BPMS. It doesn't even define what the customer wants. it defines steps. 4) Processes are software and instantly changeable -- THERE IS NO SOFTWARE THAT IS INSTANTLY CHANGEABLE! And processes are not software but they are data stored in a database ... and the processes are mapped to people in an organization that is certainly not instantly changeable!!! Such a silly claim! 5) BPMS provide a huge amount of data -- absolutely not, just the basic execution times. Nothing else. No satisfaction statistics or such. 6) You can make guesses and try them out --- WHO GUESSES and who tries out? This is an absolute NO-NO in current BPM. 7) Client Onboarding --- that is a strong human interaction with content and needs a case structure and not a rigid process. One of the most common ACM applications ... 8) Customer Experience --- requires multi-channel human interaction and the least it needs is rigid processes or a few ad-hoc tasks. Once again ... very popular ACM use ... 9) Gives the business the control -- in what way does an enforced process give the business control? BPM creates fools with tools. 10) Early adopters struggle -- that is the best one!!! We talk about 20 YEARS of BPM methodology, technology and practice. Bogdan is the only one to point out that there are substantial challenges in current technology (and he really does not agree with the responses above) and with it the related methodology and practice. Currently the best way to drive revenue is to NOT DO BPM. Because all it will do at best is to cut cost at the expense of customer satisfaction and the ability to innovate. Let alone produce a substantial negative impact on the workforce needed to improve customer service and with it revenues.
    • David Chassels
      more than a month ago
      Max
      Can't let this go without comment!

      Comparing BPM with ACM is apples and pears. Do you not understand "BPM" is a discipline, a principle and a way to think it is not a "technology"; ACM is a software product?

      Remember BPM was the tag applied by "IT" to recognise the people and process aspect of business, indeed a recognition of the validity of its predecessor BPR. As such there should be no limitations in thinking how to deliver better outcomes. BUT the problem has been the old “inside-out” command and (little) control of big processing and accounting systems. Add to that the v poor software support in the early days to implement BPM ideas into a digital solution. Yes there have been practical limitations in any solutions and hence validity to your views on “orthodox BPMS”? But these views are out of date for next generation software that truly supports “BPM”

      What your comments do is highlight the need to understand “how” the BPM supporting software actually works to deliver that vital adaptive capability. Sadly this is an important aspect that so called “industry analysts” failed to address as it may not suit their dominant vendors customers selling complex and expensive software! Such domination is bad for progress so the pressure builds and your frustration is understandable. BUT please respect and recognise there are some who put serious R&D into the very issues you raise and have answers…..!

      I am sure we would all like to how you build your ACM? Do you hard code a generic solution or use “modules” to build customs solutions if so what are the key attributes? How do you support unexpected change such as in banking the new BASIL 111 requirements do you have to resort to code build/change and of course how to handle version control to implement into the day to day operations?

      Once true understanding of “how” is exposed then buyers can make informed decisions on how Software can deliver that support putting people first thinking BPM “outside in” delivering “Adaptive” capability for any operational need (not just CM)
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