What Are the Hidden Costs of Not Implementing BPM?

What Are the Hidden Costs of Not Implementing BPM?

Posted by on Jan 20th, 2020

Every business, regardless of what stage it’s at, needs a specific set of tools and processes to succeed and experience continuous growth. Back-end operations are the backbone of that success and growth, but they need to be efficiently managed and executed in order to work. That’s where the concept of business process management (BPM) comes into play.

BPM is an integral part of successful business operations. It’s a system of protocols that helps you automate certain core aspects of your business, which in turn speeds up workflow processes and tracks metrics, so you can actively see how well your business is doing. These metrics also help you pinpoint specific areas within your organization’s operations that need improvement.

Without a proper BPM strategy in place, you run the risk of missing out on a few very important aspects of your backend operations that could make you fall behind your competition and promote wasteful and unnecessary expenditures.

Keep reading to learn about all the hidden costs of attempting to run your business without a proper BPM protocol in place.

Missed Growth Opportunities

Meticulously tracking all your backend operations and the metrics they yield allows you to gain an invaluable insight into how your business is being managed and what changes you need to implement to make it better. If you don’t have a system in place to manage and track these backend operations, there’s no telling what types of important and useful advancement and money saving opportunities you could be missing out on. For all you know, you could be operating your business inefficiently and inadvertently forgoing certain processes that could help your business save money for future expansion.

Overwhelmed and Busy Employees

Inefficient backend operations usually mean more unnecessary, often stressful, and unevenly distributed grunt work for your employees. When your employees feel overwhelmed and burdened with unnecessarily heavy workloads that force them to work longer hours, this not only negatively impacts their overall morale, but it can also diminish their productivity as well as the quality of the work they produce. Maximizing and optimizing your backend operations by implementing an efficient, feasible, and cost-effective BPM strategy can help reduce a lot of these problems and boost employee morale to boot!

Lack of Proper Customer Support

Customer support can also suffer immensely in the absence of a well-thought-out BPM strategy.
Since BPM typically includes accurate customer data entry and updated client accounts, it’s a great tool to have for customer service-based businesses like contact centers or retail agencies. Customer service agents and salespeople can quickly and easily add missing information, create complete customer profiles, and add important notes, so that every interaction is impactful and ensures customer satisfaction.

Lack of Organization

BPM helps you track all customer interactions, employee projects, transactions, invoices, and other company activity. Without a set of strict operational systems in place for each department, you run the risk of becoming disorganized. Lack of organization can lead to lowered employee morale, diminished motivation to work and complete tasks on time, fear of job insecurity, and high tensions in the workplace. Employee turnaround and underperformance rates will also rise due to the added pressure of having to pick up additional work that former employees may have left behind. All in all, a noticeable lack of organization is bad for business.

Implementing a custom-tailored BPM strategy for your business can help you and your employees easily stay on top of all the day-to-day tasks involved in not just keeping your business afloat, but helping it flourish.

Reactive Instead of Proactive Action Plan

One of the major costs of ignoring BPM is failing to have a proactive risk assessment and action plan in place. Part of the reality of owning and managing a business is that you will inevitably incur some level of potential risk at some point throughout the lifespan of your business. Whether you’re dealing with product recalls, compliance, strategy, operational, competitive, program, reputational, legal, economic, quality, or other types of risks, the list is virtually endless. Of course, the types of potential risks your business may face depends largely on the industry you’re in as well as the size and age of your business.

Having a strong BPM strategy set up can help you better anticipate, navigate, and overcome many of the risks. A feasible BPM strategy includes performing a great deal of market research to better understand the nuances of your industry, so that you can aptly structure your backend operations and apply specific strategies that are custom-tailored for your business needs. In business, preparedness is nine-tenths of the law. And you want to make sure that you have a proactive BPM approach—one that you can easily refer back to in the event that your business should encounter any obstacles or problems along the path to growth and success.

Why You Need BPM from 3C Contact Services

As one of the leading contact centers in North America, 3C Contact Services has helped countless businesses stay ahead of the fold with our exceptional customer service and reliable personalized BPM strategies. From customer interactions and CRM operations to transaction processing, billing, payroll processing, data entry, and more, we can help you stay on top of your BPM and expand your business. Contact us for more information.