Level Up Your Workflow with These Business Process Management Tools
Business Process Management (BPM) is not a new concept for businesses. It is possible that you have heard about BPM in a number of different forms, such as BPM tools or BPM software. And if not, it is vital that your business starts using these tools if you want to see growth. Excellent BPM tools are essential to your business’ success. We are highlighting the best BPM tools for your business going into 2023 and beyond.
What Are BPM Tools
When it comes to expanding and developing your business, there are tools out there to help you anticipate the road ahead, measure your progress, and avoid potential challenges. These are called business performance management, or BPM, tools.
Business performance management tools help you track everything from employee performance against key performance indicators to feedback on team productivity. You can track progress toward goals and objectives and make smarter, faster, more informed decisions with this kind of visibility.
With this kind of information, businesses are able to make confident, timely decisions based on data. Businesses stay agile. Employees are more productive.
Business process management tools can address specific operational functions of a business or department, or they can integrate to provide a 360-degree view of the organisation and its many facets. Whether department-focused or fully integrated, business performance management tools aim to:
- Design a systematic approach to optimise business processes.
- Acquire and analyse information.
- Model, implement, and automate business workflows.
- Minimise errors, inefficiencies, and miscommunication.
- Help leadership make faster, better decisions backed by data.
These BPM tools are truly zealous. Continually monitoring your systems for on-demand business metrics that can help the organisation grow in the right direction, these tech tools never tire.
This begs the question, which BPM tools, in particular, can help my business thrive (and how)?
The 3 Business Performance Tools Every Business Needs
The features and capabilities of BPM tools are extensive, but there are still certain aspects of the business every company leader must grasp and keep a grip on. These are the must-dos. It is possible to make inaccurate assumptions and take unnecessary risks without understanding what is happening in these key areas.
1. Unlock the Power of Data With Performance Dashboards
The use and gathering of data can be one of the most effective ways to analyse business performance, but some organisations are still lagging in knowing what data to pull or how to get it.
Other businesses have almost too much data coming in that managing and analysing it seems like a daunting feat.
In short, this data is wasted.
Here is where dashboards come in. Access easy, real-time insight into data across the entire business. Dashboards serve as communication tools between business data and the decision-makers who need it organised and presented in an actionable way. Here is how:
- Dashboards parse, sort, filter, and analyse your business data.
- This tool then takes the relevant data and illustrates important information in the form of comprehensible visualisations and reports.
- These insights give businesses a huge, ongoing advantage.
Oracle NetSuite allows management and leaders to add customisable, feature-rich dashboards that can explain the answers to numerous specific business performance questions. Read more about reporting and analytics with Oracle NetSuite and IKONS DIGITAL.
2. Plan and Budget With Ease
Traditionally, businesses plan for the year ahead. New goals are set. Strategies are adjusted. Projects for the coming year are funded. Without this solid foundation, business performance can become tricky to track and measure.
The right BPM tool will yield planning and budgeting benefits that keep the organisation running at maximum efficiency and positioned to outdo competitors, increase revenue, and speed growth.
In order to achieve a successful financial plan, your business must be able to collect and utilise data in order to aid in operational and financial planning. The Oracle NetSuite solution can help your business with:
- Budgeting and forecasting
- Revenue planning
- Operational expense planning
- Workforce planning
- Trended financial statements
Make use of the BPM tools within the Oracle NetSuite ERP financial management solution.
3. Resonate Better With Your Customers With Impressive CRM Tools
A key BPM measurement is how well your organisation is interacting and communicating with customers.
The insights from a CRM can allow your business to build and drive sales funnels. These funnels can build a better customer journey, converting unaware individuals into repeat customers.
The CRM functionality within Oracle NetSuite’s Integration Services is capable of handling multiple sources of data, providing insights, and helping business leaders assess and adjust their business operations. These functionalities include:
- Optimal forecasting, prospecting, and quote management can be facilitated with real-time customer information. Much of this can also be automated.
- Automated processes to target, create, launch and track marketing campaigns.
- Built-in reporting with real-time analytics.
Businesses today cannot ignore automation; it is a necessity. Get more information about how Oracle NetSuite can automate your business workflow by chatting with one of our experts.
The All-in-One ERP System to Streamline Your Business
Oracle NetSuite ERP is a cloud-based platform and business management solution. By integrating many operational aspects of the business into one solution, a cross-functional approach can be used to increase business performance monitoring efficiency and accuracy.
By integrating real-time data across the following areas an ERP simplifies the process of assessing the business:
- Accounting Software
- Financial Management
- Global Business Management
- Inventory Management
- Order Management
- Supply Chain Management
- Warehouse Management
When you look at the parts and features of an ERP system, you can immediately see how this kind of 360-degree management approach can result in faster, easier business performance assessments.
Why Choose Oracle NetSuite
- Financial processes are automated.
- The supply chain and inventory are optimised.
- Productivity of human resources is at its peak.
- A flawless order management process ensures a great customer experience.
- Data is constantly collected across functions for assessment, planning, and budgeting.
Start 2023 off organised, re-energised and with a solution that works for your business. Contact IKONS DIGITAL for your free discovery call.
