Intelligent Business Process Management vs. Traditional BPM
Business Process Management (BPM) has been around for years. Many organizations use BPM to streamline their business processes and achieve operational efficiency. However, with the advancements in technology, a new approach has emerged - Intelligent Business Process Management (iBPM). In this blog post, we will compare iBPM to traditional BPM and see how it affects data analytics.
Traditional BPM
Traditional BPM is a process-centric approach that focuses on automating routine tasks, optimizing processes, and reducing costs. In traditional BPM, processes are predefined and follow a set of rules. The focus is on process execution, and if something goes wrong, the process must be manually corrected.
While traditional BPM has its advantages, it also has limitations. It lacks the flexibility to deal with exceptions and adapt to changing circumstances. It also heavily relies on human intervention, which can introduce errors and delays.
Intelligent Business Process Management (iBPM)
iBPM is an adaptive approach that uses artificial intelligence (AI) and machine learning (ML) to improve process efficiency and effectiveness. iBPM can automatically adapt to changing conditions and learn from past experiences to make better decisions.
iBPM can analyze large amounts of data in real-time, identify patterns, and provide insights that can help organizations make better decisions. iBPM can also improve customer experience by providing personalized services and reducing response times.
iBPM vs. Traditional BPM - A Comparison
Here is a comparison between iBPM and traditional BPM based on some key parameters -
| Parameter | iBPM | Traditional BPM |
|---|---|---|
| Automation | High level of automation using AI and ML | Automation through predefined rules |
| Flexibility | Highly flexible and can adapt to changing circumstances | Lack of flexibility to deal with exceptions |
| Decision-Making | Data-driven decision-making | Rigid decision-making |
| Customer Experience | Improved customer experience through personalized services | Impersonal customer interactions |
| Cost | Higher initial investment but lower operational costs in the long run | Lower initial costs but higher operational costs in the long run |
Conclusion
While traditional BPM has been around for a while, iBPM is becoming more popular due to its flexibility, adaptability, and data-driven decision-making capabilities. While the initial investment may be higher, the long-term operational costs are lower, making iBPM a cost-effective solution in the long run. Organizations can leverage the power of iBPM to provide personalized services and improve customer experience.
In conclusion, iBPM provides a more efficient and effective way of managing business processes, enabling organizations to leverage their data for better decision-making.