Benefits of Business Process Management And the Balanced Scorecard

Benefits of Business Process Management And the Balanced Scorecard

Business process management is a powerful management tool that managers and executives use to establish optimized processes geared towards increasing the company's profitability. IT system is the basis of critical processes, thus the creation of a database management system for any organization is one of the most crucial process in the early stages of the business.

Advantages of database management system are modular development, data structure, authorization control, processing speed, and back-up functionality. It is a business software application that manages the business and data access in database.

Performance management balanced scorecard is also a powerful management tool for implementation of strategy using metrics. It is considered as the most significant new business concept. The premise is, which is very simple, that businesses should not only focus on financial measures, but should balance financial side of the business with its other aspects like operations, customers and employees. Thus in a Balanced Scorecard, four aspects of the organization should be managed well, Financial, Customer, Operations and Learning and Growth.

Balanced scorecard management focuses on achieving the goals of the four aspects of the business. When all of these aspects are performing well and achieving their goal, then the mission and vision of the company is achieved.

In achieving the goals of the aspects of the Balanced Scorecard, business process design should be in congruence with the organizations goals and policies and procedures. Ideally, business process design should be conceptualized at the inception of the business. However, if the business has their own processes, business process management reviews them and re-designs to align with the organizations goals and objectives.

Business process tools are software that can be easily incorporated in your current business processes and achieve the goal of a balanced scorecard. Most of the business process tools are offered for sale by IT developers. Business owners and executives however must set their objectives and do extensive research on these tools before acquiring them.

Business process management and the balanced scorecard is an organization's secret tool in optimizing processes and achieving the overall goals and objectives of the company. If all of the four aspects of the scorecard are balanced, then your business is on the right track. The scorecard is a powerful tool in performance evaluation. If the scorecard is tilted, then the aspect causing the tilt should be reviewed and assess if that manager or executive is performing according to what is expected, of if the process involved need improvement and redesigning.

In order to achieve a Balanced Scorecard, there are many consultants or resources available online. Acquiring or developing database system and software may be considered as high investment for most organizations. However investing in these tools will outweigh benefits more the cost. With business process management and the balanced scorecard, there is no doubt that the organization will achieve an internal rate of return higher than 15%, has high customer retention, optimized processes and motivated workforce. No wonder many consider the "Balanced Scorecard' as a major breakthrough business concept in the century.

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