Business Process in our day to day life

It is basically the same with a business. In order for your company to reach a goal, there must be a set of lists to do. You have to follow it in order for your business to head into the right direction. In accomplishing these set of tasks, you will reach your goal. Consistency is the key in order for your goal to be accomplished always.

Understanding Business Process more

An AP automation solutions has also been defined as a set of activities and tasks that, once completed, will accomplish an organizational goal.  The process must involve clearly defined inputs and a single output. These inputs are made up of all of the factors which contribute (either directly or indirectly) to the added value of a service or product. These factors can be categorized into management processes, operational processes and supporting business processes.

Management Processes

The purpose of a management process is to ensure a disciplined and consistent approach to analysis and decision making. They facilitate the use of a logical thought process that is consistent with the objectives of the firm.  The capital budgeting process, for example, is based on financial market disciplines that encourage wise investment.  Product planning is focused on both creating customer value and realising the benefits of new products for the firm’s investors, not one or the other.

Management processes should be seen as a support to and not a replacement for management judgment.  These processes require the development of expectations about the future and provide guidance in light of the associated assumptions.  The wise manager uses these tools as inputs to decision making which, when combined with business acumen, provide a solid basis for choice.

Operational Processes

Perhaps the most frequently used and the most important type of processes in any company are the operational processes. These are processes which define the primary activities that a company needs to perform in order to successfully execute its business.

 It is very important to understand the concept of value stream and map the same before beginning to develop operational processes. After all, the process ought to be designed from the point of view of the customer. They are the ones that are going to finance the entire organization.

Supporting Processes

An activity or function that supports the day-to-day operations of an organization, such as accounting, communications, maintenance and sales.

It is performed to maintain integrity of the product or service developed by “primary processes” as well as it ensures that products and processes comply with predefined provisions and plans. Supporting processes accompany the “primary processes”, which do not typically result in final products of the organization, but rather indirectly contributes to the value added. Documentation, configuration management, verification, training and audit process are all supporting processes

 

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