Terms

Business Process Management

What is Business Process Management?

Business Process Management (BPM) is a systematic approach to improving an organization's business processes by analyzing, designing, implementing, and monitoring them to optimize efficiency and effectiveness. It streamlines and automates processes to reduce costs, improve productivity, and enhance overall performance across various industries and sectors, such as finance, healthcare, and manufacturing.

Benefits of Implementing BPM

  • Improved efficiency: BPM streamlines processes, eliminates redundancies, and optimizes resource utilization, leading to increased efficiency.
  • Reduced costs: By optimizing processes and resource utilization, BPM helps organizations reduce operational costs and improve their bottom line.
  • Enhanced collaboration: BPM promotes better communication and collaboration among teams, departments, and stakeholders, ensuring that everyone is working towards the same goals and objectives.
  • Risk management: BPM helps predict resource needs, lowering the risk of under- or over-allocating resources, and identifies weak links and bottlenecks in processes for potential improvements.
  • Continuous improvement: BPM focuses on the continuous improvement of business processes, enabling organizations to streamline workflows, automate tedious tasks, and improve efficiency.
  • Competitive advantage: BPM helps companies deliver products and services efficiently at lower cost, align processes to business goals, and adapt to changing needs, making them more agile and responsive to market changes.
  • Scalability: BPM tools and technologies have evolved to better address the business need for continuous improvement and agile transformation at scale, allowing organizations to scale their BPM initiatives as needed to meet changing business requirements.

Steps to Effective BPM

  • Analyze and design: Begin by analyzing current processes, identifying inefficiencies, and designing improved workflows. Involve interdisciplinary teams and use a formal BPM methodology to ensure a comprehensive approach.
  • Implement and monitor: Implement the redesigned processes and monitor their performance using clearly defined KPIs. Track improvements and measure steps to reveal weak links and bottlenecks.
  • Continuously improve: Use BPM principles and techniques to continuously optimize processes. Leverage BPM tools and technologies to support large-scale business change and adapt to evolving needs.
  • Embrace automation: Integrate automation solutions, such as Red Hat Ansible Automation Platform, to streamline and optimize business processes further.
  • Collaborate and communicate: Ensure clear communication among stakeholders to promote effective collaboration and understanding of roles and responsibilities.

Common BPM Mistakes to Avoid

When implementing Business Process Management (BPM), it's important to be aware of common mistakes that can hinder success. Avoiding these pitfalls can help ensure a smoother BPM journey and better outcomes for your organization.

  • Insufficient analysis: Failing to thoroughly analyze existing processes can lead to incomplete or ineffective improvements. Invest time in understanding the current state of your processes before making changes.
  • Lack of stakeholder involvement: Excluding key stakeholders from the BPM process can result in misaligned goals and resistance to change. Engage all relevant parties to ensure buy-in and support.
  • Overlooking change management: Implementing BPM often requires significant organizational change. Neglecting change management can lead to employee resistance and reduced effectiveness of new processes.
  • Ignoring continuous improvement: BPM is an ongoing process, not a one-time project. Regularly review and optimize processes to maintain efficiency and adapt to evolving business needs.
  • Overemphasis on technology: While BPM tools and technologies are valuable, they should not overshadow the importance of people and processes. Focus on a balanced approach that considers all aspects of BPM.

BPM Tools and Software

Business Process Management (BPM) tools and software play a crucial role in streamlining and automating processes. Some of the latest trends in BPM tools include Intelligent Business Process Management Systems (iBPMS), Low-code/no-code (LCNC) development, and integration of Robotic Process Automation (RPA) with BPM. These tools offer various integration capabilities, such as process mining, Business Process Model and Notation (BPMN) tools, workflow engines, and business rules engines (BREs).

Future developments in BPM tools and software are expected to focus on democratization through citizen developer tools, intelligent business process automation incorporating AI and machine learning, and adaptive process management for real-time iterative process modeling. Additionally, innovations in process modeling and simulation, generative AI for reimagining business processes, and convergence of BPM tools with AI improvements will drive continuous business transformation.

Other terms

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Positioning Statement

A positioning statement is a concise description of your target market and how your product or service uniquely fills their needs.

Positioning Statement

Consumer Buying Behavior

Consumer buying behavior is the study of how individuals select, buy, and use products and services to satisfy their needs and desires.

Consumer Buying Behavior

Mid-Market

Mid-market companies are businesses larger than small businesses but smaller than large enterprises, often defined by revenue or employee size.

Mid-Market

Behavioral Analytics

Learn about behavioral analytics, including implementing behavioral analytics successfully, & key metrics in behavioral analytics.

Behavioral Analytics

Inside Sales Metrics

Inside sales metrics are quantifiable measures used to track the performance, activities, and effectiveness of an internal sales team.

Inside Sales Metrics

Multi-touch Attribution

Multi-touch attribution is a marketing analytics method that credits multiple touchpoints on the customer journey for a conversion.

Multi-touch Attribution

Lead Scoring Models

Lead scoring models rank prospects by assigning points for their behaviors and demographics, helping sales teams prioritize their outreach.

Lead Scoring Models

Operational CRM

An Operational CRM is a system that automates and improves customer-facing business processes like sales, marketing, and customer service.

Operational CRM

Marketing Mix

The marketing mix is the set of marketing tools a company uses to sell products, defined by the 4Ps: Product, Price, Place, and Promotion.

Marketing Mix

Call for Proposal

A Call for Proposal (CFP) is a document that solicits proposals, often through a bidding process, for a specific project or service.

Call for Proposal

Accessibility Testing

Accessibility testing is a software testing method that verifies an application is usable by people with disabilities, like vision or hearing loss.

Accessibility Testing

Outbound Lead Generation

Outbound lead generation means proactively reaching out to potential customers who haven't yet expressed interest to introduce them to your brand.

Outbound Lead Generation

Single Page Applications

A Single Page Application (SPA) is a web app that interacts with the user by dynamically rewriting the current page rather than loading new pages.

Single Page Applications

Inside Sales Rep

An inside sales rep sells products or services remotely from an office, using digital tools like phone and email to connect with customers.

Inside Sales Rep

Serviceable Obtainable Market

Serviceable Obtainable Market (SOM) is the portion of the market you can realistically capture with your current resources, sales, and marketing.

Serviceable Obtainable Market

Purchase Buying Stage

The purchase stage is when a buyer has decided on a solution and is ready to buy. They're comparing vendors to make a final choice.

Purchase Buying Stage

Sales Coaching

Sales coaching is a process where managers help reps improve their skills and performance through personalized feedback, training, and guidance.

Sales Coaching

CRM Analytics

CRM analytics is the process of analyzing data from your CRM to uncover insights that help you better understand and serve your customers.

CRM Analytics

Internal signals

Internal signals are data points from your own systems, like website visits or product usage, that indicate a customer's buying intent.

Internal signals

Sales Sequence

A sales sequence is a series of automated touchpoints sent to prospects over time to guide them through the sales funnel.

Sales Sequence

Video Hosting

Video hosting is a service that allows users to upload, store, and share video content online, making it accessible for playback anywhere.

Video Hosting

Lead List

A lead list is a curated database of potential customers (leads) with contact information and other key data for sales and marketing outreach.

Lead List

Objection Handling

Objection handling is the process of responding to a prospect's concerns or hesitations about a product or service to move a deal forward.

Objection Handling

Escalations

Escalations are the process of moving a customer issue or sales opportunity to a more senior or specialized team member for resolution.

Escalations

Sender Policy Framework

Sender Policy Framework (SPF) is an email authentication method that lets you specify which mail servers can send emails on behalf of your domain.

Sender Policy Framework

Sentiment Analysis

Sentiment analysis, or opinion mining, automatically determines the emotional tone behind text—whether it's positive, negative, or neutral.

Sentiment Analysis

Load Testing

Load testing is a type of performance testing that determines how a system behaves under both normal and anticipated peak load conditions.

Load Testing

Sales Strategy

A sales strategy is a comprehensive plan that outlines how a business will sell its products or services to achieve its revenue goals.

Sales Strategy

Net Revenue Retention (NRR)

Net Revenue Retention (NRR) is the percentage of recurring revenue kept from existing customers, including upsells, downgrades, and churn.

Net Revenue Retention (NRR)

Sales Dashboard

A sales dashboard is a visual tool that centralizes and displays key sales data, metrics, and KPIs to help teams track performance and goals.

Sales Dashboard

Sales Velocity

Sales velocity is a key metric measuring the speed at which your company makes money. It shows how fast deals move through your sales pipeline.

Sales Velocity

NoSQL

NoSQL ("Not only SQL") databases offer a flexible alternative to relational models, excelling at managing large and unstructured data sets.

NoSQL

Demand Capture

Demand capture is the strategy of engaging potential customers who are already actively looking for a solution that your company provides.

Demand Capture

Conversion Rate

Conversion rate is the percentage of visitors who complete a desired goal, like a purchase or sign-up, out of the total number of visitors.

Conversion Rate

Value Gap

A value gap is the difference between the value a customer expects from a product and the actual value they receive, often leading to churn.

Value Gap

Account-Based Sales

Account-Based Sales (ABS) is a focused B2B strategy where sales and marketing teams treat high-value accounts as individual markets of one.

Account-Based Sales

Bulk Application Programming Interface

Learn about bulk API, including how it works, the advantages of using it, common use cases, and tips for optimizing it.

Bulk Application Programming Interface

Digital Advertising

Digital advertising is the practice of delivering promotional content to users through various online and digital channels like social media or search engines.

Digital Advertising

Customer Retention Rate

Customer Retention Rate (CRR) is the metric that measures the percentage of customers a company has kept over a specific period of time.

Customer Retention Rate

Sales Development

Sales development is the process of identifying and qualifying potential customers to create a pipeline of sales-ready leads for closers.

Sales Development

Fault Tolerance

Fault tolerance is a system's ability to continue operating without interruption when one or more of its components fail.

Fault Tolerance

DMP

A Data Management Platform (DMP) is a tech platform used to collect and manage data, mainly for digital marketing and advertising campaigns.

DMP

Data Appending

Data appending is the process of adding new data fields to your existing database records to enrich and complete your information.

Data Appending

Regression Analysis

Regression analysis is a statistical method for estimating the relationships between a dependent variable and one or more independent variables.

Regression Analysis

Video Selling

Video selling uses personalized video messages to engage prospects, build rapport, and guide them through the sales funnel to close more deals.

Video Selling

Enterprise

An enterprise is a large-scale organization, often a corporation, defined by its complex structure and substantial number of employees.

Enterprise

Platform as a Service

Platform as a Service (PaaS) is a cloud model where a provider delivers a platform for users to develop, run, and manage applications online.

Platform as a Service

B2B Data Platform

Learn about B2B data platform, including key benefits of B2B data platforms, choosing the right B2B data platform, challenges in implementing B2B data platforms.

B2B Data Platform

User-generated Content

User-generated content (UGC) refers to any form of content, like images, videos, or text, created and shared by users on online platforms.

User-generated Content

Referral Marketing

Referral marketing is a strategy that incentivizes existing customers to recommend a company's products or services to their personal network.

Referral Marketing

Cost Per Click (CPC)

Cost Per Click (CPC) is a digital advertising model where an advertiser pays a fee each time one of their ads gets clicked by a user.

Cost Per Click (CPC)

Hot Leads

Hot leads are prospective customers who have shown significant interest and are ready to buy, making them a top priority for sales teams.

Hot Leads

Click-Through Rate

Click-through rate (CTR) is a metric that measures the percentage of people who click on a specific link, ad, or call-to-action.

Click-Through Rate

InMail Messages

LinkedIn InMail messages are a premium feature that lets you directly message any LinkedIn member, even if you're not connected to them.

InMail Messages

Solution Selling

Solution selling is a sales approach focused on understanding a customer's pain points to offer a comprehensive solution, not just a product.

Solution Selling

Challenger Sales Model

The Challenger Sales Model is a sales approach where reps challenge a customer's thinking by teaching, tailoring, and taking control of the sale.

Challenger Sales Model

Sales Operations Management

Sales Operations Management streamlines sales processes, tech, and data analysis to help sales teams sell more effectively and efficiently.

Sales Operations Management

Quarterly Business Review

A Quarterly Business Review (QBR) is a recurring meeting to assess performance against goals and align on strategy for the next quarter.

Quarterly Business Review

Representational State Transfer Application Programming Interface

A Representational State Transfer (REST) API is a web service that uses a simple, stateless architecture for systems to communicate online.

Representational State Transfer Application Programming Interface

Price Optimization

Price optimization is the process of finding the ideal price for a product or service to maximize profitability or other business objectives.

Price Optimization

Sales Pipeline

A sales pipeline is a visual representation of where prospects are in the sales process, from the first contact to the final sale.

Sales Pipeline

Lead Conversion

Lead conversion is the process of turning a prospect into a customer by getting them to complete a desired action, such as making a purchase.

Lead Conversion

Jobs to Be Done Framework

The Jobs to Be Done (JTBD) framework focuses on understanding customer needs by identifying the specific 'job' they are trying to accomplish.

Jobs to Be Done Framework

Serverless Computing

Serverless computing is a cloud model where the provider manages servers, so developers can focus on code without worrying about infrastructure.

Serverless Computing

Market Intelligence

Market intelligence is the process of collecting and analyzing data about your target market, competitors, and industry to guide business strategy.

Market Intelligence

Channel Marketing

Channel marketing is a strategy where a company sells its products or services through third-party partners, like resellers or affiliates.

Channel Marketing

Lead Generation Software

Lead generation software helps businesses automate finding and capturing potential customers' contact information to build sales pipelines.

Lead Generation Software

Account-Based Advertising

Account-based advertising is a hyper-focused B2B strategy that targets key accounts with personalized ads across multiple channels.

Account-Based Advertising

Revenue Forecasting

Revenue forecasting is the process of estimating a company's future revenue, using historical data and market trends to guide strategic planning.

Revenue Forecasting

B2B Marketing Attribution

Learn about B2B marketing attribution, including challenges in B2B marketing attribution, & key metrics for effective attribution.

B2B Marketing Attribution

Email Deliverability

Email deliverability is the ability for your emails to successfully land in your recipients' inboxes instead of their spam folders.

Email Deliverability

Customer Segmentation

Customer segmentation is dividing customers into groups based on shared traits. This allows for more targeted and effective marketing efforts.

Customer Segmentation

Marketing Qualified Opportunity

A Marketing Qualified Opportunity (MQO) is a lead vetted by marketing as a genuine sales opportunity, ready for direct sales follow-up.

Marketing Qualified Opportunity

Software as a Service

Software as a Service (SaaS) is a cloud-based model where users subscribe to an application and access it over the internet.

Software as a Service

BAB Formula

Learn about BAB formula, including implementing BAB in sales strategies, crafting an effective BAB pitch, & comparing BAB with other sales frameworks.

BAB Formula

Website Visitor Tracking

Website visitor tracking collects and analyzes data on user behavior to understand their journey and improve the overall user experience.

Website Visitor Tracking

Personalization in Sales

Personalization in sales means tailoring outreach to a prospect's specific needs, interests, and context to make communication more relevant.

Personalization in Sales

Targeted Marketing

Targeted marketing focuses on specific consumer groups whose needs align with your product, allowing for more personalized and effective messaging.

Targeted Marketing

Application Programming Interface

An Application Programming Interface (API) is a set of rules that lets different software applications talk to each other and share information.

Application Programming Interface

Account Development Representative

An Account Development Representative (ADR) identifies and qualifies new business opportunities, creating a pipeline for account executives.

Account Development Representative

Unique Selling Point

A Unique Selling Point (USP) is the distinct feature or benefit that sets your product, service, or brand apart from the competition.

Unique Selling Point

Site Retargeting

Site retargeting is a marketing strategy that shows ads to people who have previously visited your website but left without converting.

Site Retargeting

Expansion Revenue

Expansion revenue is the extra money a business makes from its current customers via upgrades, new products, or additional services.

Expansion Revenue

Sandboxes

A sandbox is an isolated testing environment where new or untrusted code can be run safely without affecting the host device or network.

Sandboxes

B2B2C

Learn about B2B2C, including benefits of B2B2C model, key strategies for B2B2C success, & B2B2C vs. B2C vs. B2B: understanding the differences.

B2B2C

Gone Dark

Going dark is when a once-responsive prospect suddenly stops all communication, leaving you wondering what went wrong.

Gone Dark

B2B Leads

Learn about B2B leads, including identifying quality B2B leads, generating B2B leads effectively, & B2B leads vs. B2C leads: understanding the differences.

B2B Leads

Small to Medium-Sized Business

A small to medium-sized business (SMB) is a company whose employee count and annual revenue fall below certain industry-specific thresholds.

Small to Medium-Sized Business

Customer Experience

Customer experience (CX) is a customer's total perception of your business, based on every interaction across the entire customer lifecycle.

Customer Experience

Complex Sale

A complex sale features a long sales cycle, multiple stakeholders, and a high-value transaction, demanding a strategic, consultative approach.

Complex Sale

Sales Champion

A sales champion is your internal advocate at a target company. They believe in your product and help you push the deal forward to close.

Sales Champion

B2B Sales

Learn about B2B sales, including key strategies for B2B success, types of B2B sales models, & B2B vs. B2C sales: understanding the differences.

B2B Sales

Sales Development Representative (SDR)

A Sales Development Representative (SDR) is a sales specialist who finds and qualifies new leads, building a pipeline for the sales team.

Sales Development Representative (SDR)

Demand Generation Framework

A demand generation framework is a strategic process for creating awareness and interest in your product, ultimately driving new business.

Demand Generation Framework

Annual Recurring Revenue (ARR)

Annual Recurring Revenue (ARR) is the predictable income a company expects to receive from its customers over a one-year period.

Annual Recurring Revenue (ARR)

Drupal

Drupal is a free, open-source content management system (CMS) for building websites and applications. It's known for its robust flexibility.

Drupal

BANT Framework

Learn about BANT framework, including implementing BANT in sales strategy, advantages of the BANT methodology, & BANT vs. other qualification models.

BANT Framework

Branded Keywords

Learn about branded keywords, including identifying your branded keywords, & strategies for optimizing branded keywords.

Branded Keywords

Lead Scoring

Lead scoring is the process of assigning points to leads based on their attributes and actions to determine their sales-readiness.

Lead Scoring

B2B Data Enrichment

Learn about B2B data enrichment, including benefits of B2B data enrichment, implementing B2B data enrichment strategies, B2B data enrichment vs. data cleaning.

B2B Data Enrichment