Business process management (noun) is the practice of designing, executing, controlling, and analyzing processes within an organization. Consider the example of a manufacturing company that streamlines its product assembly process to increase efficiency and reduce production time.
Business process management plays a crucial role in optimizing operations, improving productivity, and enhancing customer satisfaction. Its benefits include increased efficiency, reduced costs, improved compliance, and enhanced decision-making capabilities. A key historical development in business process management was the introduction of workflow automation tools in the late 1990s, which paved the way for more efficient and automated process execution.