The business process management market is predicted to increase at a Compound Annual Growth Rate of 10.5%, from USD 8.8 billion in 2020 to USD 14.4 billion by 2025 (Source: Markets and Markets. The integration of Artificial Intelligence (AI) and Machine Learning (ML) technologies with BPM software is estimated to be one of the factors driving the market’s growth.
Manufacturing, Financial Services, Banking and Insurance and telecommunications are predicted to have contributed considerably to the Market’s growth.
Let’s have a look at what process mapping is all about.
Process mapping is a strong business process that involves signs to create a visual representation of a company action from beginning to end. This method follows each stage of a process and determines what has been done, who does it, where this is being done, when it is being done, and even why this is being done.
For instance, the accounting team can use process mapping to recognize how they transact, while HR teams can use it to determine how they choose people.
How does process mapping benefit your business?
Process mapping helps Executives to get a more complete understanding of all operational activities and how they may affect company-wide goals and other issues such as compliance. Overall, process mapping could help businesses become more successful, productive, and flexible by giving them a clear and concise view of all operations and any challenges that are being faced.
Business process mapping is a concise framework that displays a graphical presentation of all of your company’s essential processes, as well as the relationships between each phase and the process’s time frames.
Building business process maps have numerous advantages, such as:
- Having a clear picture of where your processes are right now.
- Increasing the visibility of processes across the organization.
- Identifying areas where automation and workflow improvement could be made.
- Improving inter-departmental communication
- Maintain consistency in your actions.
- Getting rid of redundancy and unnecessary processes in the process.
- Improved Customer service.
- Industry regulations are followed.
Process map component
Process maps are simple and easy to understand; they use symbols to represent essential input, output and step-related components, such as below mentioned key symbols.
Picture Source: Ontask
What are the different types of process maps?
There are many various kinds of process maps one may use based on what they need to express. Among the most common one’s are:
- The flowchart – This is a useful way to depict a basic workflow or plan a new project in its most basic form.
- SIPOC – Suppliers, process, inputs, outputs and customers — and predictably, the relationships between them – are all represented by this symbol. It’s more suitable for more complicated processes.
- Swimlane – This map (also termed as a cross-functional flowchart) illustrates various steps in multiple lanes based on who is in charge of them. It’s ideal for teams with job sharing or where a large number of people are engaged.
- Value Stream Mapping – This could be quite complicated, but it’s an excellent way to display a lot of data in a small amount of area.
The following are some helpful tips for mapping business processes.
- Determine the most important metrics. This will allow your mapping to successfully communicate with information.
- Keep an eye out for generalizations that may or may not be accurate. Continue to ask questions until you get a definite response.
- At a time, interview one or two persons. Some people may be reluctant to speak out or dispute another member in a group interview.
- After you’ve finished drawing your maps, double-check them with users and other data sources.
- A skilled practitioner, like somebody who has completed a Six Sigma training programme, can enable a mapping project to run much more smoothly.