Markets move faster than company decision making ever can. Trying to keep up using step-change is a doomed undertaking – it results in a sawtooth which catches up, then falls behind again – all accompanied with so much disruption that good people leave.
BPM has the power to change that. To create a system which learns from the data and the customer feedback. Which continually improves, then improves on that improvement. And adapts as needs change.
Ideally it moves the company from behind to in-front – to a position where it is the market leader in that process. The three axes are normally faster, better, cheaper and the end game is more efficient, more effective and more user friendly than any other on all three axes.
So I would take two metrics (never take only one – one can mislead you down a wrong path)
First is pace of change. How much better the process is doing than it did yesterday and the day before. Sure you’ll see an S curve, but extending the vertical on that is what will really drive improvement.
Second is by how far you outperform all those around you. Assuming it is a key metric, than that is measured by customers. If being faster means customers are attracted, then that should show. If being cheaper while retaining profit margins is what matters in your field, then that will show in customer numbers too. And if slow systems are creating churn, that will show negatively. Oh and if it doesn’t show on what really matters to the company - customers - then why are you wasting time improving it?
Don’t get sucked in by internal stuff – it may be easier to measure but it isn’t building competitive advantage. Customers and pace of change are the true metrics.