Workflow management software has facilitated huge leaps in productivity by eliminating most of the paperwork that used to be required to get the work done. It supports collaborative efforts that can span multiple time zones and continents, and allows large, complex organizations to manage huge amounts of data and translate it into actionable information. As you explore your options, it would behoove you to learn some of terminology used to describe these products.
Business process management, or BPM
Business process management is the type of management that focuses on making sure the organization able to fulfill the expectations of its customers. It is continuously focused on improving processes in an organization. Workflow management software is used by decision makers and stakeholders to define, track and report on activities associated with business process management.
Key performance indicators, or KPI
KPI are financial and non-financial measures used to help an organization determine whether or not it is making progress on its goals and objectives. Indicators are clearly defined and then incorporated into the workflow management software used to monitor progress.
Business activity monitoring, or BAM
BAM is the act of monitoring KPIs and is another function frequently included in workflow management software. Business activity monitoring is also subset, or subordinate activity, within business process management. It provides real-time information on the results or status of various transactions, operations or processes.
Service-level management is a type of business activity monitoring. It tracks and measures the quality of service as it relates to the KPI.
Project management is the practice of planning resource management so that project goals and objectives are completed successfully. Projects have specific state and completion dates that must be tracked and measured, and workflow management software is designed to facilitate this process.
Task management is a part of project management that involves defining the specific activities needed to complete a project. Task management includes such things as tracking the status or completion of the task, the time it will take and the resources that will be required, including human and financial. Workflow management software makes task management easier and more efficient.