Business leaders are often looking for ways to drive more dollars to the bottom line, improve the efficiency of their operations, enable new technologies and achieve growth targets. The tactical answers of how these things get done vary by organization, but, before those decisions can be made, it helps if business leaders take a step back and understand the business processes they are addressing. Enter: process modeling and optimization.
Process modeling and optimization is a great tool that can impact organizations in a couple of key ways:
Business process modeling and optimization is based on understanding how business gets done and how to make it better. The process starts with looking at the highest level and drilling down to greater and greater levels of detail. Begin by building a simple “strawman” of certain business processes to understand:
The process includes:
Whether your organization is trying to drive more cost savings to the bottom line; achieve organic growth targets; or successfully integrate the people, process and technology of a merger or acquisition; business process modeling and optimization is a powerful tool. Taking the time to document current-state processes alone is a great first step. However, often the rewards are well worth the effort to redesign these processes altogether, removing inefficiencies and leveraging technology wherever possible.
Cohen & Company is not rendering legal, accounting or other professional advice. Any action taken based on information in this blog should be taken only after a detailed review of the specific facts and circumstances.
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