BUSINESS PERFORMANCE MANAGEMENT (BPM)
Business performance management (BPM) is used to analyze specific goals and help a company save on operating costs.
BUSINESS PERFORMANCE MANAGEMENT is the act of setting company goals, monitoring the methods used to achieve those goals, and then creating ways for managers and executives to more effectively achieve those goals. Each activity works with the other to help create a more efficient process.
BUSINESS PERFORMANCE MANAGEMENT is the act of setting company goals, monitoring the methods used to achieve those goals, and then creating ways for managers and executives to more effectively achieve those goals. Each activity works with the other to help create a more efficient process.
How does it work?
The idea of BUSINESS PERFORMANCE MANAGEMENT (BPM) is a broad concept, but it is best used to analyze specific goals and help a company to save on operating costs, while generating more revenue at the same time. By collecting and analyzing data, a company can determine what effects managerial changes had on performance, and then, alter those changes to help create a more effective process.Who is it for?
Not only is a company´s productivity a consideration, but there is also concern for investors, vendors, partners, and competition. The important thing to remember about BUSINESS PERFORMANCE MANAGEMENT (BPM) is that it is used to improve the performance of personnel and management. The use of metrics is just a means to an end, with that end being higher profitability.Each Business Performance Management (BPM) Monitoring Program utilizes three primary activities:
Get StartedSelection of Goals
Targets front-office activities where the entire end-to-end process can´t be automated. Works alongside people to deliver attended automation - whereby, the actions of bots can still be triggered by system-level events that can give and take data to and from human workers.Information Monitoring
Targets front-office activities where the entire end-to-end process can´t be automated. Works alongside people to deliver attended automation - whereby, the actions of bots can still be triggered by system-level events that can give and take data to and from human workers.Managerial Adjustments
Once the data has been reviewed, the management staff decides which measures to take to increase efficiency and profitability. These changes are charted and the effects go back into the information monitoring activity. It is critical that the adjustments made reflect the goals of the company. This can be tricky because the goals are not always financial. For example, if the goal is to improve employee job satisfaction by 20 percent, then the actions taken by management would not necessarily require a financial consideration.Organizations Should Engage Outside Help for their BUSINESS PERFORMANCE MANAGEMENT (BPM)
Management Consultancies, such as AYFI are recognized as the Best-In-Class – providing a “fresh set of eyes” and global binoculars for risk management across sectors and industries – and inhouse failures.
Get Started
