Business Process Management and corporate governance
Business Process Management and corporate governance Linkedin Youtube Facebook Instagram A company is a group of people with a common
luis.chicaiza
2023-05-05
In recent years, companies have started to look for different ways to optimize their activity. For this, they have used different types of technological tools that help in information management and decision making. One of the options that have been used the most has to do with strategies to have an increasing control over the activities they develop every day. This has been given the name of Business Activity Monitoring, and process automation is essential for its proper functioning.
Business activity monitoring (BAM) describes the processes and technologies that enhance situation awareness and enable analysis of critical business performance indicators based on real-time data. BAM is used to improve the speed and effectiveness of business operations by keeping track of what is happening and making issues visible quickly. The BAM concept can be implemented through many different kinds of software tools; those aimed solely at BAM are called “BAM platform products.”
Thus, BAM is the ability to capture and set out, in real time, all the information related with a company in its commercial development.
BAM must be understood as a possibility available from Information Technology, which is the technology that can keep a continuous and automate information capturing without failures. That is why BAM is used to automatize the monitoring and improvement process and for strengthening the effectiveness of process activities: “By using BAM, you can monitor a business process in real time and generate alerts when the business process needs human intervention” (Sanders y Snowman, 2009).
The main benefits of this functionality are:
Automates data capture and aggregation
Provides real-time visibility into business processes
Can alert users
Can capture data asynchronously (Sanders y Snowman, 2009)
This technology is usually present within Business Process Management and Business Intelligence solutions, and is used when the business’ strategy employs apps built from service-oriented architecture. It is also used when there is a strong component of web connection in the strategy of the company (Sanders y Snowman, 2009). For this reason, one of its main functionalities is to detect communication processes and to send permanent messages to assure the quality of the answers the company gives to its customers’ requirements. In contrast with Business Intelligence, which is mainly related to the external information of the company, BAM is mostly in charge of the information coming from internal processes and communications in the organization.
Automation is another of the tools that companies use today to optimize their processes, as the use of information technology increases speed without losing precision in activities. This is a radical change that is raising different questions for businesses around the world, but it is clear that it is an inevitable change:
There is no doubt intelligent automation is here and will shape the future of business. Automation is forcing companies to look at every aspect of their business through a different lens. But just how pervasive it will be is up for debate. Gartner highlights the fact that “hyperautomation” is on the rise, and it is. Embraced by forward-thinking industries, the “automate everything” mindset is very much here to stay. (https://www.forbes.com/sites/forbestechcouncil/2021/06/17/how-to-embark-on-an-intelligent-automation-journey-five-critical-components/?sh=1c651c231b81)
From our perspective, the processes to be optimized through BAM technology must first go through a clear stage of automation of activities, because today, with the speed and number of data that circulate in a business every hour, it is impossible to monitor the activity if not through the use of IT tools, and these IT solutions can only have agility if they are automated and work on platforms that integrate all the activities of the business.
With automation, what happens is that there is an integrated system where all the movements of the organization are recorded, so that not only can these events be reviewed after they have occurred, but in real time the behavior of the process can be reviewed to take actions according to the vision of the BAM.
Thus, automation and BAM can be used as complements to the business, since the former streamlines and strengthens the company’s response capacity, and the latter optimizes the quality of communication and ensures that there is a secure and clear process. The monitoring of business activities is thus part of a global vision of the alignment of activities with the organization’s model and its primary goals.
The Dexon Business Process Management solution allows the integration of these two aspects of optimization, as it combines the integration of activities in the same workflow with the constant review of actions, to generate a reliable and robust follow-up and control process.
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