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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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

Mobile Optimization

Mobile optimization adapts your website to ensure visitors on smartphones and tablets have a seamless, user-friendly experience.

Mobile Optimization

Brag Book

Learn about brag book, including crafting your outstanding brag book, essential components of a brag book, & brag book vs. resume: unveiling the differences.

Brag Book

BANT Framework

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

BANT Framework

End of Day

End of Day (EOD) refers to the close of business hours. It's a common deadline for tasks and reports to be completed before the workday ends.

End of Day

ETL

ETL, short for Extract, Transform, Load, is a data integration process for moving raw data from various sources to a central data warehouse.

ETL

Sales Demo

A sales demo is a presentation where a sales rep shows a prospect how a product or service works and solves their specific problems.

Sales Demo

Net 30

Net 30 is a common payment term where a client has 30 calendar days from the invoice date to pay for goods or services in full.

Net 30

80/20 Rule

The 80/20 rule, or Pareto Principle, posits that 80% of results come from just 20% of the effort. It's a key concept for prioritization.

80/20 Rule

Time on Site

Time on site, or session duration, is a key web metric that tracks the total time a visitor spends on your website during a single visit.

Time on Site

Sales Plan Template

A sales plan template is a reusable document that outlines your sales strategy, goals, and tactics, providing a clear roadmap for your team.

Sales Plan Template

Warm Outbound

Warm outbound is a sales strategy for contacting prospects who've shown interest in your brand through prior engagement, like website visits.

Warm Outbound

Triggered Email

A triggered email is an automated message sent to a user in response to a specific action or event, like signing up or making a purchase.

Triggered Email

Trigger Marketing

Trigger marketing uses customer actions or events to automatically send highly relevant, personalized messages at the perfect moment.

Trigger Marketing

Simple Object Access Protocol Application Programming Interface

A Simple Object Access Protocol (SOAP) API is a web service that uses XML to exchange structured information between different applications.

Simple Object Access Protocol Application Programming Interface

Ideal Customer Profile

An Ideal Customer Profile (ICP) is a detailed description of the perfect, hypothetical company that would get the most value from your product.

Ideal Customer Profile

Inbound Sales

Inbound sales attracts interested prospects who've engaged with your brand, letting sales reps connect with warm leads instead of cold outreach.

Inbound Sales

Decision Maker

A decision-maker is an individual with the authority to make significant choices for a company, especially regarding purchases or strategy.

Decision Maker

Trademarks

Think of a trademark as a brand's unique signature—a word, symbol, or phrase that legally protects its identity and sets it apart from the rest.

Trademarks

OAuth

OAuth is an open standard for access delegation. It lets you grant apps access to your data on other services without sharing your password.

OAuth

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

Hadoop

Hadoop is an open-source framework designed for the distributed storage and processing of extremely large data sets across clusters of computers.

Hadoop

Lead Qualification Process

The lead qualification process is how you determine which prospects are most likely to become customers by evaluating them against specific criteria.

Lead Qualification Process

Challenger Sales

The Challenger Sales model is a methodology where reps teach prospects, tailor their pitch, and take control of the sales conversation.

Challenger Sales

Sales Metrics

Sales metrics are quantifiable data points that track and measure a sales team's performance against specific goals and objectives.

Sales Metrics

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

Sales Pitch

A sales pitch is a persuasive presentation of a product or service, aimed at convincing a potential customer to make a purchase.

Sales Pitch

Mobile Compatibility

Mobile compatibility ensures your site or app works flawlessly on mobile devices, like smartphones and tablets, for a seamless user experience.

Mobile Compatibility

Customer Relationship Management Systems

A Customer Relationship Management (CRM) system is a tool that centralizes customer data to help manage interactions and nurture relationships.

Customer Relationship Management Systems

Sales Demonstration

A sales demonstration is a presentation showing a prospect how a product or service works and how it can solve their specific problems.

Sales Demonstration

Contract Management

Contract management is the process of creating, executing, and analyzing contracts to maximize performance and minimize financial risk.

Contract Management

Programmatic Display Campaign

Programmatic display campaigns use automation to buy and sell digital ad space in real-time, targeting specific audiences across the web.

Programmatic Display Campaign

Programmatic Advertising

Programmatic advertising uses AI and real-time bidding to automate the buying and selling of digital ad space, targeting specific audiences.

Programmatic Advertising

Amortization

Amortization is the process of spreading out a loan or the cost of an intangible asset over a specific period for accounting and tax purposes.

Amortization

Trusted Advisor

A trusted advisor is an expert who builds a deep client relationship by consistently prioritizing their best interests over any single transaction.

Trusted Advisor

Psychographics

Psychographics categorizes people by their attitudes, interests, and lifestyles, revealing the 'why' behind their purchasing decisions.

Psychographics

Master Service Agreement

A Master Service Agreement (MSA) is a foundational contract that sets the general terms for an ongoing business relationship between two parties.

Master Service Agreement

Sales Automation

Sales automation uses software to streamline and automate repetitive, manual sales tasks, freeing up reps to focus on selling.

Sales Automation

Bottom of the Funnel

Learn about bottom of the funnel, including maximizing conversions at the funnel's end, & strategies for nurturing bottom-funnel leads.

Bottom of the Funnel

No Forms

No Forms is a method for capturing lead data directly from your website visitors' profiles without requiring them to fill out any forms.

No Forms

Channel Sales

Channel sales is an indirect sales model where a company leverages third-party partners, such as resellers or affiliates, to sell its products.

Channel Sales

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

Brand Loyalty

Learn about brand loyalty, including how to build brand loyalty, benefits of brand loyalty, measuring brand loyalty, & strategies for increasing loyalty.

Brand Loyalty

Robotic Process Automation

Robotic Process Automation (RPA) uses software bots to mimic human actions and automate repetitive, rules-based tasks on digital systems.

Robotic Process Automation

Data Encryption

Data encryption translates data into another form, or code, so that only people with access to a secret key or password can read it.

Data Encryption

Kanban

Kanban is a visual project management method that uses a board to visualize workflow, limit work-in-progress, and maximize team efficiency.

Kanban

Customer Engagement

Customer engagement is the ongoing, value-driven relationship a business builds with its customers to foster brand loyalty and awareness.

Customer Engagement

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

Nurture Campaign

A nurture campaign is a series of automated messages designed to build relationships with potential customers and guide them toward a purchase.

Nurture Campaign

Content Syndication

Content syndication is the process of republishing your web content on third-party sites to reach a much wider audience.

Content Syndication

D2C

Direct-to-consumer (D2C) is a sales strategy where a brand sells its products directly to end customers, bypassing any third-party retailers.

D2C

Rapport Building

Rapport building is the process of establishing a connection and mutual understanding with someone, creating a foundation of trust and affinity.

Rapport Building

Incident Response

Incident response is an organization's systematic approach to managing and mitigating the aftermath of a security breach or cyberattack.

Incident Response

Consultative Sales

Consultative selling is a sales approach where a salesperson acts as an advisor, focusing on understanding and solving a customer's specific needs.

Consultative Sales

Multi-Channel Marketing

Multi-channel marketing uses various platforms—like email, social media, and direct mail—to engage with customers wherever they are.

Multi-Channel Marketing

Sales Forecast

A sales forecast is a projection of future sales revenue. It's a crucial tool for businesses to make informed decisions and allocate resources.

Sales Forecast

Service Level Agreement

A Service Level Agreement (SLA) is a contract defining the level of service between a provider and a client, including metrics and penalties.

Service Level Agreement

Ransomware

Ransomware is a type of malicious software that encrypts a victim's files, holding them hostage until a ransom is paid for the decryption key.

Ransomware

Marketo

Marketo is a marketing automation platform used by B2B marketers to manage lead generation, nurturing, email marketing, and analytics.

Marketo

De-dupe

De-duping, or data deduplication, is the process of eliminating duplicate copies of data within a dataset to improve accuracy and save space.

De-dupe

Data Cleansing

Data cleansing, or data scrubbing, is the process of detecting and correcting inaccurate records from a dataset to improve data quality.

Data Cleansing

Persona-Based Marketing

Persona-based marketing uses fictional customer profiles, or personas, to create targeted messaging for specific audience segments.

Persona-Based Marketing

Lead Nurturing

Lead nurturing is the process of developing and reinforcing relationships with buyers at every stage of the sales funnel.

Lead Nurturing

Dialer

A dialer is software that automatically dials phone numbers for agents, boosting call efficiency and connecting them to live prospects faster.

Dialer

Bounce Rate

Learn about bounce rate, including understanding bounce rate implications, key factors affecting bounce rate, & reducing your bounce rate effectively.

Bounce Rate

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

Unit Economics

Unit economics are the direct revenues and costs of a business calculated on a per-unit basis, revealing its fundamental profitability.

Unit Economics

Content Delivery Network

A Content Delivery Network (CDN) is a system of distributed servers that deliver web content to users based on their geographic location.

Content Delivery Network

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

Digital Analytics

Digital analytics is the analysis of data from digital channels to understand user behavior and optimize online experiences for business goals.

Digital Analytics

Drupal

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

Drupal

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

Regression Testing

Regression testing ensures that new code changes don’t negatively impact existing features. It's a key step to maintain software quality after updates.

Regression Testing

Marketing Analytics

Marketing analytics involves measuring and analyzing marketing data to understand campaign performance and improve return on investment (ROI).

Marketing Analytics

Conversational Intelligence

Conversational intelligence (CI) is AI technology that analyzes customer conversations to find insights that help sales and support teams improve.

Conversational Intelligence

AI-Powered Marketing

AI marketing uses artificial intelligence to analyze data, automate decisions, and deliver personalized customer experiences at scale.

AI-Powered Marketing

Integration Testing

Integration testing is a software testing phase where individual modules are combined and tested together to verify their interaction.

Integration Testing

B2B Data Solutions

Learn about B2B data solutions, including unlocking the power of B2B data, & key components of effective B2B data solutions.

B2B Data Solutions

Shipping Solutions

Shipping solutions are services or software that streamline the logistics of getting products to customers, from label printing to final delivery.

Shipping Solutions

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

Customer Data Management (CDM)

Customer Data Management (CDM) is the process of collecting, organizing, and analyzing customer data to create a unified view of your audience.

Customer Data Management (CDM)

Letter of Intent

A Letter of Intent (LOI) is a document declaring the preliminary commitment of one party to do business with another, outlining the chief terms.

Letter of Intent

PPC

Pay-per-click (PPC) is an internet advertising model where businesses pay a fee each time one of their online ads is clicked by a user.

PPC

Buying Process

The buying process is the journey a customer takes from first realizing a need to making a final purchase decision and evaluating it afterward.

Buying Process

Customer Lifecycle

The customer lifecycle is the journey a person takes from first becoming aware of your brand to becoming a loyal, repeat customer.

Customer Lifecycle

Big Data

Learn about big data, including understanding big data characteristics, benefits of leveraging big data, & challenges in managing big data.

Big Data

Audience Targeting

Audience targeting is the process of segmenting consumers into specific groups to deliver more personalized and relevant marketing messages.

Audience Targeting

Digital Contracts

Digital contracts are legally binding agreements created, signed, and stored electronically, offering a faster, more secure alternative to paper.

Digital Contracts

Marketing Operations

Marketing Operations (MOps) is the engine of a marketing team, managing the technology, processes, and people to run campaigns effectively.

Marketing Operations

Salesforce Administrator

A Salesforce Administrator is a certified professional who manages and customizes the Salesforce platform to meet a company's specific business needs.

Salesforce Administrator

Business Intelligence

Learn about business intelligence, including key components of business intelligence, the role of BI in decision making, business intelligence tools and techniques.

Business Intelligence

Account-Based Everything

Account-Based Everything (ABE) is a strategy aligning sales, marketing, and success teams to focus on a specific set of high-value accounts.

Account-Based Everything

Funnel Analysis

Funnel analysis is a method for understanding the steps users take to complete a goal, revealing where they drop off in the conversion process.

Funnel Analysis

CI/CD

CI/CD, or Continuous Integration/Continuous Delivery, automates software builds, tests, and deployments for faster, more reliable releases.

CI/CD

Account-Based Marketing Benchmarks

Account-Based Marketing (ABM) benchmarks are key metrics used to measure the performance and success of your targeted account strategies.

Account-Based Marketing Benchmarks

Account-Based Selling

Account-Based Selling is a B2B strategy where sales and marketing treat high-value accounts as markets of one, using personalized outreach.

Account-Based Selling

Business to customer

Learn about business to customer, including maximizing B2C sales strategies, B2C vs. B2B: unveiling differences, & core principles of B2C success.

Business to customer

Upsell

Upselling is a sales tactic encouraging customers to purchase a higher-end version of a product or related add-ons to boost revenue.

Upsell

Competitive Analysis

Competitive analysis means identifying your rivals and assessing their strategies to pinpoint your own business's strengths and weaknesses.

Competitive Analysis

Sales Enablement Content

Sales enablement content refers to the materials and tools that empower your sales team to engage prospects and close deals more efficiently.

Sales Enablement Content