In the digital age, your business is only as valuable as its data, and that’s not an exaggeration. That’s one of the key reasons why 60% of businesses fail within six months of a data breach. Whether you own a large tech firm, bank, or local business, chances are that you rely on data to a large extent. 

Fortunately, you can manage your data more efficiently and effectively with the right process management. Here’s what you need to know.

What Is Process Management?

In the digital world, processes are our means of controlling data, making decisions, analyzing, reporting, and more. Essentially, everything your business does with its data is considered a process, from archival to analysis. In most cases, these processes require human intervention to some extent.

Conversely, digital process automation (DPA) is an approach that focuses on the automation 9or partial automation) of tasks involved in your business practices. This can be across a wide variety of platforms working to complete the same task or service, or as part of the typical workflow.

Why Processes Matter

We understand why data is so important to our enterprises, but the processes that control them often go overlooked. Without efficient and accurate process management, that data is not being optimized for results.

For example, if a local bank relies on some form of human intervention for every transaction, its members will face long wait times and more errors. Not only will this alienate their customers, but it limits that local bank from scaling.

Conversely, large banks can instantly deposit checks, transfer funds, and process transactions with greater speed and accuracy. This is thanks to their process management, including machine learning and digital decision-making.

Even a 10% drop in performance will accumulate large-scale delays and errors as you continue to scale your business. As processes become more complex, process management cannot lag behind.

How to Improve Your Business Processes

To recap, the more data you accumulate, the more valuable your business becomes. However, that data is useless without the means to control it, which becomes more challenging with scale. Here’s how you can improve your business process management.

Identify What Is and Isn’t Working

First, you will need to identify where your business excels and where it needs improvement. Which processes, or components of processes, seem to cause the most difficulty in your enterprise? These are the ones to target first.

Define Your Tasks

Processes are the key components of your workflow, and they are made up of individual tasks. To understand how to better manage your workflow, you need to break it up and define your tasks. This will make it much easier to design your process management plan later on.

Delegate Tasks

Understanding where to route specific tasks (whether to one or multiple users), set reminders for tasks, and more will help improve your process management. Having a clear idea of who is responsible for managing specific tasks will make each of your processes more efficient, especially if these are automatically delegated. 

Invest in Process Automation

There is no way around it. Automation is essential if you want to grow your business.

With tools like our Business Process Management engine (iBPMS), you can design your own tasks and microservices with our graphical, low-code technology. This will allow you to customize your workflow needs across multiple platforms and processes. Moreover, these processes include:

• Business analysis
• Reporting
• Forms design
• Synchronization
• Microservices
• Triggers
• Authorizations
• Archival

See the full list of iBPMS features to learn more. Overall, this tool can go a long way toward improving the workflow across your entire enterprise, synchronizing data across multiple platforms and users.

Analyze and Adjust

Once you have automated your processes, set up your automation to analyze the key features you want to improve. From there, you can make informed decisions about which tasks and products still need addressing, and you can continue to further optimize your processes over time. With the right tools, this will only require you to input new rules into the system!

Improve Your Processes Today

Now that you know how processes control data, and why it’s so important to your business, you can take care of your most valuable business asset today. With the right artificial intelligence, machine learning, and digital decision-making, you can rest assured that your data is being managed at the scale and level of accuracy you need.

Stay up to date with our blog for our latest workflow tips, and check out our Business Process Management engine to see what it can do for your most valuable data!