Business Process Management and corporate governance

Like any set of rules, corporate governance rules work better the more automated and integrated they are with the overall activity of the company. We can understand it better with an analogy: driving a car is better if when doing so we are not thinking about every action we should execute and when we should do it, but when we allow the actions to flow automatically.

In this sense, BPM is a fundamental support. With BPM, all corporate governance regulations can be integrated into a system that integrates and articulates them in perfect coordination. In this way, managers do not have to be on the lookout for compliance with regulations, but rather the BPM tool informs them when there are adjustments to be made or profound changes to be made.

In this way, the principles of corporate governance will be respected and everyone will receive the benefits: there will be fair treatment, since the software does not discriminate by position in the company, but reports on actions regardless of who executes them; there will be transparency, since the system stores all the information so that it can be reviewed at any time; risk will be properly assessed to make timely decisions that do not affect those involved in the business; and there will be an adequate risk assessment to make timely decisions that do not affect those involved in the business. (investopedia.com)

It is a way to enter what is known as the 4.0 era of corporate governance:

The boards’ role has shifted from governance 1.0 which was a remote distance oversight board, to governance 2.0 which brought compliance and reform to the boardroom post Enron, to governance 3.0 which is marked by the shift from shareholder to stakeholder capitalism and ESG centric mindset to, to present day governance 4.0 where the companies long term competitiveness is completely interwoven with tech enabling every business function. (forbes.com)

This means that technology is a must today, and automation is no longer an option. The faster a company integrates these functionalities, the faster it will grow and establish trust with its customers and partners. A flexible and robust BPM guarantees an intelligent organization, with a clear and quick head, who leads the rest of the team with knowledge and responsibility. The BPM thus becomes not only the support of corporate governance, but a support for the entire business, and a guarantee of high-quality standards. This gives greater value to the business and builds a stable community of collaborators.

With the Dexon BPM solution, we have repeatedly seen this phenomenon: by aligning corporate governance regulations with a flexible automation tool, business goals are achieved faster. It also transforms the entire understanding of the business and significantly raises employee satisfaction and engagement levels. In addition, customers grow, and the company learns more easily to diversify its market and adapt its products and services to new users.

Corporate governance is perhaps the essential element of the reliability that the company offers. Therefore, leaving it only on paper and mechanical processes may not be the best idea in a digital business world where everything is interconnected through technology.