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4349 The World without Bankruptcy Laws

Bankruptcy is one of the natural states which a company may find itself in. Entrepreneurship is primarily about taking risks. When companies take risks, some of them succeed, whereas others fail. Hence failure is a natural part of the business. However, many critics of bankruptcy laws believe that there isn’t a need for an elaborate […]

4348 The Wirecard and Infosys Scandals are a Lesson on How NOT to Treat Whistleblowers

What is the Wirecard Scandal all about and Why it is a Wakeup Call for Whistleblowers Anyone who has been following financial and business news over the last couple of years would have heard about Wirecard, the embattled German payments firm that had to file for bankruptcy after serious and humungous frauds were uncovered leading […]

4347 Why the Digital Age Demands Decision Makers to be Like Elite Marines and Zen Monks

How Modern Decision Makers Have to Confront Present Shock and Information Overload We live in times when Information Overload is getting the better of cognitive abilities to absorb and process the needed data and information to make informed decisions. In addition, the Digital Age has also engendered the Present Shock of Virality and Instant Gratification […]

4346 Why Indian Firms Must Strive for Strategic Autonomy in Their Geoeconomic Strategies

Geopolitics, Economics, and Geoeconomics In the evolving global trading and economic system, firms and corporates are impacted as much by the economic policies of nations as they are by the geopolitical and foreign policies. In other words, any global firm wishing to do business in the international sphere has to be cognizant of both the […]

4345 Why Government Should Not Invest Public Money in Sports Stadiums Used by Professional Franchises

In the previous article, we have already come across some of the reasons why the government should not encourage funding of stadiums that are to be used by private franchises. We have already seen that the entire mechanism of government funding ends up being a regressive tax on the citizens of a particular city who […]

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Business Process Improvement programs when designed with specific objectives and sponsored and facilitated by the senior management including Business Unit heads yields the desired results.

Organizations use BPI as a tool to raise the bar and take their business operations to another level. BPI as a tool for effecting change management is effective especially when Organizations are very large, have multiple business units, operate across different geographies and markets. BPI is also highly effective in medium and smaller Organizations which can attempt to overhaul the entire Organizational processes by conducting a BPI program.

The objective or the need for BPI program has got to be decided and chosen by the Business Unit heads and the management of the Organization, for they are the ones who know what they need in terms of their business goals and the need for transition can be defined by them. Apart from Organizational objectives to do with the growth and new businesses, there may be many situations in the current business scenario that can be addressed through BPI.

Customer satisfaction happens to be one of the key driving factors for all Organizations and businesses. All business leaders recognize that their business grows and additional revenues accrue through satisfied customer relationships.

Customer satisfaction encompasses not only quality of product or service and pricing but has a lot to do with delivery as well as after sales service and maintenance too. Therefore Organizations tend to give specific focus to improving their internal as well as external processes that are involved in customer servicing. In many cases the Customer service process currently being followed may be very expensive or time consuming.

Especially in case of sales management, after sales servicing, spare parts delivery, customer complaint management, repair and return as well as warranty servicing and other related areas call for continuous improvement in processes to augment the efficiencies as well as to reduce the costs.

Most of the companies have introduced automated system driven processes for customer relationship management and in case of larger businesses, the entire process has been outsourced to BPOs.

In an effort to improve the business processes, Organizations have adapted the practice of outsourcing the supply chain services using external vendors and supply chain partners. Even in case of field support and warranty supports as well as parts return and repair, Organizations are using multiple vendors to cover the entire market across the county of operation.

When multiple players both internal as well as external are involved and multiple functions as well as departments are involved, managing the efficiencies and ensuring seamless co-ordination is possible only by standardizing and operating through business processes.

Periodically Business process improvement would have to be taken up to streamline processes, to look at redundancies and to introduce new technologies that can automate the processes and thus reduce the costs as well as improve the efficiency of service provided through the network.

However before one embarks on a BPI exercise it is essential to determine and quantify the expected impact in terms of impact on Customer, in terms of Business impact as well as in terms of cost and work efficiency impact too.

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