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Finance digital transformation involves leveraging cutting-edge technologies for better operational efficiency and enhanced strategic decision-making. It can also be done by leveraging BPM software tools to automate them. Fortunately, today’s advancing technology can help to streamline the process.
When organizations want to build a process culture, they need to identify leaders for each process improvement effort—namely an Executive Sponsor, Process Owner, Project Lead and Business Process Management (BPM) Team Facilitator. Remember that the Executive Sponsor and Process Owner may be new to these BPM roles.
Organizations deploy automation technologies as the primary resource in their Business Process Management. Gone are the days were BPO meant Business Process Outsourcing, with Robotic Process Automation technology fueling new millennium enterprises, BPO has taken on a new meaning, Business Process Optimization.
But after a number of processes are selected with this ‘whoever is interested’ approach, leaders and process Improvement practitioners see that it would make sense to select processes that are underperforming, would provide increases in market share and revenue, or would directly support key strategic initiatives.
Theories and practices of management often spring from the opportunities created by new technologies. Client-server technology begat enterprise resource planning systems, and the consequent system-wide visibility that was required for what we call business process management (BPM). How organizations are changing.
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