Looking to Calculate the Return on Investment (ROI) for BPM?
Calculating ROI on BPM can be challenging, typically because there is no single ROI for a BPM solution. Because Business Process Management can be leveraged for a variety of purposes, including:
- Process Automation
- Increased Agility
- Reduction in required headcount
- Faster time to market
- Increased productivity
- Increased efficiency
So when an organization is looking to justify the purchase of a BPM Software or Workflow Software package, there are many considerations to examining the probable return on investment. So, let’s address the two separate types of benefits that Business Process Management Software can bring to the table: Direct and Indirect.
Direct Benefits of BPM / Workflow:
- Improvements in efficiency and productivity
- Reduction in rework, errors and process failure (Quality Improvement)
- Reduction in required staffing through automation and process tuning
- Risk mitigation
- Insight for continuous process improvement and analysis
In-direct Benefits of BPM / Workflow:
- Centralized control and management of all business processes
- Enhanced compliance
- Simplified and centralized audit capabilities
- Improved collaboration
- Greater alignment of IT with business requirements
Each project needs to be treated separately, and all these different benefits evaluated to identify the true return on investment for any BPM project. Here is a video overview of the benefits, value and ROI on a BPM investment:
Want some help in building an ROI for your BPM project? Contact us today and our experts can help you to identify which BPM/Workflow Platform would be best for your organization, and how best to calculate ROI.