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10 Reasons To Benefit: Business Process Optimization

By  Erik Raper Erik Raper  on 2013-10-17 10:08:00  |  Featured in  Insurance , Advisory Services
Erik Raper
Posted By Erik Raper
in Insurance in Advisory Services
on 2013-10-17 10:08:00

Business Process OptimizationThere are many different ways in which a company can benefit from business process optimization, which is a management approach that strives to construct new processes and develop new resources to make an organization as effective as possible.

This approach encourages organizational leaders to get back to basics and get rid of processes that aren’t working, and creates an environment of ongoing monitoring, analysis, and adjustments when necessary. Business process management consulting firms can also help ensure the most successful optimization process possible, which achieves the company’s vision without a high level of risk.

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If you’re still not convinced that your organization needs to implement business process management solutions as soon as possible, the following 10 reasons should help sway you:

1. Boost in Efficiency

After a business successfully optimizes their business processes management, or BPM, they inevitably become more efficient. Part of the optimization process is getting rid of inefficient systems and automating as many tasks as possible, all while reducing stress and enabling people to be more productive with their time.

2. Compliance Assurance

Regulatory compliance is a big issue for almost any business. Failing to comply with various industry regulations and state or federal laws, as well as internal regulations, can result in serious consequences. Failing to live up to obligations is also a serious matter. Business process optimization helps organizations avoid fees and comply with every applicable regulation and obligation.

3. High-Quality Results

You can improve the quality of all your organizational processes, thus reducing the number of costly errors and achieving a vastly improved result, by implementing a well-designed set of business process management solutions. This will ensure the most consistent operations day in and day out, week after week.

4. Departments Held Accountable

With an optimized set of business processes, organizations can increase accountability at all levels. Automated systems and optimized management practices ensure that the proper monitoring and reporting tools are in place to reduce risks from human error, fraud, and other types of losses.

5. Increased Access to Accurate Information

Everyone needs to have the most up-to-date, useful information in order to do their jobs as best they can, which is another reason to consider investing in the optimization services of an enterprise process management consulting firm. With new software tools, automated systems, improved management practices, and the implementation of new information systems that are easily accessible to all authorized users, communicating the breaking news and accessing the most relevant data is a breeze.

6. Secure Resources

If you optimize your BPM strategies today, you will have a more secure environment tomorrow, and we’re not just talking about the locks on your office building. We’re talking about company assets such as large sets of data. The new automated processes and optimized structures will allow your business to implement and maintain stricter internal controls to reduce any risks to these precious resources.

7. Safer Workplace

An optimized business processes management plan can even make the workplace a safer place to be. Implementing safety regulations is much easier after optimizing your business processes with help from an experienced consulting firm. This applies not only to the physical safety of staff members, but also to the safety of their personal information.

8. More Flexibility

Successfully optimizing your business processes will ultimately provide more flexibility, which allows individuals, teams, departments, and entire organizations to act quickly and make necessary changes when they’re needed most. This helps avoid certain disasters and keeps the competition on their toes.

9. Performance Monitoring Capabilities

When businesses can easily monitor their performance, they can make quicker and more strategic decisions that benefit their bottom line. With the right BPM solutions, it’s possible to take quick action and avoid problems, thanks to complete transparency during every process.

10. Reduction in Wastefulness

Wasting time, manpower, and resources is like throwing money out the window. Without an effective system to keep track of resource expenditures and monitor the return on investments, it’s very difficult to maintain the optimal levels of productivity and profit. This is why optimizing your business processes and automating your systems is a must.

Erik Raper

Erik Raper

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Erik Raper heads Paragon’s Marketing and Advisory Services teams across focused industries. In this role, Mr. Raper leads his team to bring deep industry experience, rigorous analytical capabilities and a pragmatic mindset to clients’ most complex business problems. Mr. Raper’s team of marketing and strategy professionals work with Paragon’s Industry Leaders in the development of key go-to-market solutions which align to Paragon strengths and are essential to achieving clients’ business imperatives.

Before being appointed to his current position, Mr. Raper has served several key roles at Paragon including Director of Strategic Solutions Sales, Vice President of Strategy, and leader of Advisory Services. Mr. Raper guided the development of a suite of straight-through-processing (STP) solutions that focused on delivering business value–expanding Paragon’s Fortune 500 clientele and establishing the foundation for the firm’s brand platform: "Improving the Way Work Gets Done."

Prior to his appointment at Paragon in 2004, Mr. Raper spent seven years with Prudential Financial. As a vice president, he was instrumental in leading Prudential through a major operations and technology re-engineering in support of the company’s initial public offering. Preceding his employment with Prudential, he spent seven years with AT&T in various Marketing and Strategic Planning positions.

Mr. Raper holds a B.A. in Marketing from Columbus University, Metairie, Louisiana.

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