Business Process Management in Emerging Markets
If you can't describe what you are doing as a process, you don't know what you're doing. - W. Edwards Deming
The news of acquisitions and mergers are quite common. Companies are crossing country borders and exploring markets in all parts of the world. Diversification is buzz word in these days. Everyone talks about diversification when it comes to investment, business expansion or acquisitions. Corporate strategy is no more vision of top management, now it is dependent on economic conditions. And it is very important to have your strategy aligned with economic conditions to survive in the market. With the change in strategy, comes the need for change in process. Changing your business processes with time and market is like upgrading IT infrastructure with time.
So here we agree that there is always need to keep upgrading the processes with time. Let’s take an example to understand this much better. Dell is known for its strategy to sell directly to customer. Dell doesn’t believe in having dealers and distributors. They had this strategy and created processes around it. This helped Dell in achieving cost leadership in the market. It was achieved through the strategy and process behind the direct sell model. Now, if any competitor needs to adopt this model, they will have to have changes in the process and infrastructure. The changes in the process will not be easy and will need work at all levels of hierarchy.
So whenever there is change in strategy there will be change required in the process. Processes will be realigned as per the market, country and economic conditions. Now when it comes to changes in the processes which includes multiple systems, will take good amount of time and money to achieve that. That’s where BPM solution comes into picture and it helps integrating existing system to come up with new processes. Classic case of integration using BPM solution is Mergers and Acquisitions where the need is to stream line the processes in merged entity.
The best of BPM is yet to come, till now people have identified the need of a BPM solution and started using it. In the near future, people will start using it to manage the business process effectively and BPM will be on its peak.