Technology Investments and Shareholder Value - A Consulting Perspective

Executive Summary BPM is traditionally known as a discipline to optimize an organization’s business processes and save costs. But a good consideration is to view BPM as an engine for growth. A recent Mckinsey & Co study on “Measuring the full impact of digital capital” views processes as digital capital that can drive the growth of the global economy. This article explores some of the possible ways in which BPM can contribute to an organization’s growth strategy. The reader is expected to have a basic understanding of the principles of BPM. Need for growth As the global economy slowly recovers from the financial crisis of 2008, the organizations are seeing sluggish growth in consumer demand. There is a wide window of opportunity open for any innovation that can kick start the demand for future growth. One way organizations can look for new growth avenues is by looking at their business processes. BPM for Growth and Expansion Increasing market share through BPM and...

Recent advances is the technology to gather, transmit and analyze huge amount of data, referred to as Big Data, in real time has impacted the way business is conducted across domains. Big data promises to disrupt the competitive landscape and is deeply impacting various functions within an organization. This article explores the impact of ‘Big data’ on the process optimization discipline. Internet of Things The 21 st century concept of “Internet of Things” promises to connect the big data with the processes. As per a recent McKinsey & Co report, Internet of things can have an impact of $2.7 to $ 6.2 trillion by 2025. This presents a huge revenue potential for organizations involved in optimizing processes based on the big data. Onset of big data Advances in social media, sensors etc., has made it possible to continuously gather information about people, machines, processes and to transmit the information in real time. It’s astonishing to note that 90% of all the da...

Executive Summary Business Process Management (BPM) has been making huge strides across industries in the last few years.   This article explores the relevance of BPM across multiple domains and unique strategic advantages that are gained by the application of BPM principles. Although domains such as Healthcare, Retail, and Banking vary in the nature of their business as well as operational structure, the method of optimizing the business process in each of these domains remains similar. This article will elaborate the application of IBM BPM 8.0 with specific examples. Principles of BPM Wikipedia defines BPM as a " holistic management " approach to aligning an organization's business processes with the wants and needs of clients. The key goal of BPM is to create a framework for identifying, analyzing, optimizing, re-evaluating and re-optimizing the critical business process.   The chart below depicts the key features of IBM BPM 8.0: ...