The role of BPM in driving progress across key business sectors

Business process management (BPM) is changing the way organizations work, making business processes faster, smoother, and smarter. BPM is also a support system behind many business processes, including loan approvals in finance and patient care in healthcare.

A recent study from SNS Insider estimates that the BPM market will reach USD $50.35 billion by 2032, with cloud-based BPM solutions gaining traction for their scalability, agility, and cost-worthiness.

Here are some of the many industries that are benefiting from implementing business process management and how they're doing it:

1. Finance and banking

Banks and financial institutions handle vast amounts of data and complex business processes daily. They process loans, manage accounts, and ensure compliance with changing regulations.

With business process management software, financial organizations can automate tasks that once took hours or days. These tools aid real-time decision-making, streamline approval processes, and automate financial products like loans and mortgage approvals.

For example, consider this finance process flow:

1. Customers apply for mortgages.
2. An automated creditworthiness system, built using business process management software, predicts the risk factors.
3. It routes successful applications to underwriters. This is to ensure compliance with regulatory requirements and audit trails.
4. Once approved, the system triggers loan disbursement and updates the customers' records.

2. Healthcare

In healthcare, the stakes are high. Hospitals, clinics, and healthcare providers deal with life-or-death situations daily, so regulating efficient, error-free business processes is a high priority. Business process management helps upgrade patient care workflows by documenting and notifying stakeholders of required treatments at the right time and without delays.

For instance, picture this patient care process flow in a hospital:

1. A patient books an appointment online through a self-service portal.
2. The business process management system schedules the appointment and notifies relevant medical staff.
3. It retrieves the patient’s electronic health records (EHRs).
4. The patient arrives at the hospital and consults the doctor, who automatically has access to their medical history.
5. The business process management system then triggers post-consultation workflows. Those workflows include prescription fulfillment, medication reminders, and the scheduling of follow-up visits.
6. The system then ensures HIPAA-compliant documentation and secures sensitive patient records.

3. Manufacturing

Any delay in the production line of a manufacturing unit can cause a ripple effect around the entire supply chain and impact profitability. BPMhelps manufacturers optimize business operations, from raw material procurement to final product delivery. The business process management system can also help you automate workflows like inventory management, order processing, and quality control. This reduces downtime and increases throughput.

For example, in car manufacturing:

1. The BPM-configured system tracks inventory in real time. When steel sheets fall below a set threshold, the system can help auto-generate a purchase order.
2. The BPM system also aligns production with demand and supplier availability. If the demand for a particular model increases, it adjusts schedules and shifts to meet production needs.
3. After body assembly, the system triggers an automated structural integrity test reminder.
4. You can also log finished cars into inventory and prepare them for shipment. The BPM system then schedules transportation and notifies dealerships for delivery.

4. Retail

BPM helps retail businesses deliver a better customer experience for tasks like managing orders and returns. Nowadays, retail extends far beyond physical stores and includes ecommerce and home delivery sales, which requires streamlined workflows to meet rising demand.

Consider this order workflow as an example:

1. A customer orders via various channels—ecommerce platforms, in-store purchases, or field sales teams.
2. The business process automation system built by the retail store evaluates stock levels and selects the most optimal warehouse for fulfillment.
3. The system processes the order and updates inventory status in real time.
4. Customers receive automated order status notifications, including shipment tracking and estimated delivery times.
5. It also follows up with returns and exchanges workflows when customers request it.

5. Supply chain and logistics

Logistics and supply chain are all about moving products from point A to point B efficiently and cost effectively. BPM software is essential for automating workflows related to managing deliveries and suppliers, as well as helping make timely decisions. 

Picture this order management process as an example:

1. When an order is placed, suppliers dispatch materials.
2. It triggers the business process automation system to generate purchase orders and update inventory by itself.
3. The system tracks shipments in real time, notifying stakeholders of potential delays or disruptions.
4. It adjusts production schedules based on inventory levels and supplier performance.
5. It conducts automated supplier performance reviews, influencing future procurement decisions.
6. It also processes payment approvals based on preconfigured workflows, ensuring timely and accurate transactions.

6. Insurance

Insurance is an industry that thrives on accuracy and efficiency to either underwrite new policies or process claims. Business process management helps insurance companies by automating document management and claims assessments.

For example:

1. A policyholder submits an insurance claim online or through a customer support agent.
2. The BPM-configured system auto-routes the claim to the appropriate department for eligibility assessment.
3. The system verifies claims and requests inspections or documents as needed.
4. It also escalates complex cases when necessary.
5. Approved claims move into automated payment processing for a seamless payout experience.
6. It also maintains compliance by tracking documentation, audit trails, and policy regulations.

7. Government and the public sector

Government agencies often follow strict regulations and formal procedures, which can lead to longer processing times. But BPM-configured systems can simplify and automate bureaucratic tasks like issuing permits, processing tax returns, and managing social services.

For instance:

1. People apply for permits online through a self-service portal.
2. The BPM system routes applications to relevant departments for review and compliance checks.
3. Approval workflows confirm eligibility, background checks, and regulatory requirements.
4. Applicants receive notifications on their status and required next steps in real time.
5. Approved permits are auto-generated and issued digitally, reducing bureaucratic delays.

8. Education

Educational institutions, including schools, universities, and online platforms, manage a variety of processes, including student enrollment, grading, attendance, curriculum planning, and more. A BPM system can automate tasks like teacher assignments, exam scheduling, fee management, and much more. This helps create a smoother experience for both students and staff.

Here's an example of a student enrollment process flow:

1. Students submit course enrollment applications online.
2. The BPM system built by the school validates prerequisites and handles fee payments.
3. Course schedules, instructor assignments, and class allocations are auto-updated.
4. Notifications inform students of approvals, schedules, and upcoming exams.
5. The system maintains academic records, automates grading, and facilitates student-teacher communication.

9. Real estate

Real estate transactions involve a lot of paperwork among multiple parties, including buyers, sellers, agents, and legal teams. Tracking all these leads by hand can become overwhelming, but a BPM system can automate the capturing of leads from various sources and organize them in one place. These systems can do things like auto-assign leads to agents, send follow-up reminders, and identify high potential leads.

For example:

1. A potential buyer contacts customer support to inquire about available properties.
2. The configured BPM system captures these leads from many sources, like websites, social media, and direct referrals.
3. The system assigns leads to agents based on location, availability, and expertise.
4. An agent follows up with the customer and schedules a property viewing.
5. It reminds the stakeholders about the meeting a day before.
6. It also synchronizes property listings across all platforms, ensuring consistency and accuracy.
7. It automates lease agreements, rent payments, and transaction approvals, enhancing efficiency.
8. It generates necessary legal documents after transaction completion, which facilitates a smooth closing process.

10. Hospitality

In the hospitality sector, customer satisfaction is paramount. BPM helps hotel and restaurant managers simplify their business operations, which creates a smooth and seamless experience for guests.

For instance, imagine this room reservation process flow:

1. Guests make reservations via an online booking platform handled by a BPM system.
2. The BPM system auto-assigns rooms, taking availability and special requests into account.
3. The system notifies the staff for housekeeping, concierge services, and dining arrangements.
4. It adjusts the inventory and staffing schedules based on occupancy rates.
5. It also captures guest feedback, manages service quality improvements, and automates post-stay communication.

If you're looking to streamline your business operations, Zoho Creator offers prebuilt app templates for businesses across a wide range of industries. These templates can help you automate business processes quickly, and, if needed, you can easily customize them to fit your specific business needs. 

Explore the possibilities of Zoho Creator and start optimizing today!