In general, the banking industry and the financial sector are getting more competitive every year: customers demand more convenience and speed with every banking transaction, yet maintaining accuracy is also a must.

In short, banks are expected to be more productive and efficient to stay competitive.

This is why the topic of implementing Business Process Management (BPM) in banking has garnered significant interest in recent years. Optimizing and automating banking processes are necessary for every bank to keep up with the rapidly evolving customer expectations and tight competition.

This guide will discuss how implementing BPM can help banks improve their efficiency and how to use BPM solutions to achieve this purpose effectively. 

By the end of this guide, you'd have learned about:

• What is Business Process Management (BPM)?

• Standard business processes in banking and their challenges

• How BPM can improve a bank's efficiency and productivity

• The implementation of BPM in banking

• Automating banking business processes

Let us begin with the basics: what is Business Process Management?

We can’t deny that in today’s business environment, marketing is growing more complex than ever: marketing teams are getting bigger and must handle even more activities from email, social media, public relations, advertising, and more.

Yet, we can only expect marketing to grow even more complex and challenging in 2022 and in the years to come.

Ensuring your marketing team stays productive, organized, and effective can be very challenging. The key to success is to create a marketing workflow capable of handling the details of every campaign and marketing project.

In this ultimate guide to creating a marketing workflow, we’ll discuss all you need to know about creating an effective marketing workflow for your marketing team.

By the end of this guide, you’ll have learned about:

• What is a workflow?

• What is a marketing workflow?

• The benefits of having a comprehensive marketing workflow

• A step-by-step guide on creating an effective marketing workflow

• How to analyze and optimize your marketing workflow to improve its efficiency

And more!

All businesses deal with at least one workflow, no matter big or small. Even a simple lemonade stand, for example, has the process of creating a lemonade from raw lemons as a workflow.

How efficiently businesses execute their workflow(s) will ultimately determine their productivity and efficiency. Still, it’s also crucial to understand that a company doesn’t simply run by executing workflows and accomplishing the objectives. Workflows can be linked to one another, and every employee could have challenges in their unique workflows.

This is where workflow optimization is needed. Without a comprehensive workflow optimization and workflow management strategy, your business will miss more deadlines, be more exposed to risks related to human errors. It will use more resources to achieve your goals.

In short, your business will not be efficient, and it will be much harder to grow and scale your business.

Have you ever wanted to optimize your business’s workflows and improve your efficiency, but don’t know where to begin?

You’ve come to the right place.

In this guide to workflow optimization, we’ll share all you need to know about workflow optimization and workflow strategies you can use to improve your business performance. By the end of this reading, you’d have learned about:

• What is workflow optimization?

• Workflow optimization as a part of workflow management

• A step-by-step guide to optimizing your workflow

• How to optimize document management workflow to ensure its efficiency

• Actionable strategies you can implement to improve your business performance.

And more!

Let us begin this guide by looking at what workflow optimization means.

Managing and executing projects can be challenging. According to research by KPMG, 70% of surveyed organizations have suffered project failures for one reason or another.

The terms workflow and “business process” are often used interchangeably. While there is indeed an interrelation between the two terms, there are some differences between the two.  

A business process is, simply put, a set of linked activities (or tasks) that get collectively executed to achieve a business objective.