What is Business Process Governance?
What is business process governance, you ask? It has the goal of optimizing business processes and workflows related to governance, compliance, and risk management, whether internal, external, or both. Priorities are set, tools are implemented, and leaders are put in place to create more effective processes. Governance creates a system of continual improvement by setting in place a team or teams who oversee what is and what is not working within an enterprise. These teams can include frontline staff, management, IT, and others to create a robust feedback loop.
Why is it Important?
Ever-changing regulations in today’s highly-competitive business climate means Governance, Risk and Compliance (GRC) must be treated in a proactive way, as audits and fines take up valuable resources.
Some companies have separated governance, risk and compliance solutions from business process management, which is ill advised. Business process management software, or BPM software, is designed to streamline the critical processes in every type of business to create more consistency, better user experiences, accountability, increased profits, and efficiency. GRC solutions should work alongside all other business processes so the organization can align its strategies and policies to external regulations. Doing so creates healthy, long-lasting business governance, and, when done alongside BPM, will yield financial gains as well.
Often, regulatory compliance and business governance fails due to a lack of buy-in from those responsible for the managed tasks. As a management tool, and an incredibly profitable one when used properly, it helps businesses:
- Better manage roles and responsibilities
- Create accountability
- Aid in decision making
- Collect data and generate meaningful reports/analysis of that data
- Account for management metrics
So, while management may be pushing back on Goverance, Risk and Compliance (GRC), when informed of the benefits, they may take a different viewpoint.
What is Business Process Governance to BP Logix?
What is business process governance to BP Logix? We look at it as an opportunity to provide a holistic approach to organizations with governance, risk and compliance automation solutions so organizations are in control to today’s unpredictable business environment with changing regulatory requirements. BP Logix’s BPM software, Process Director, is a complete GRC software solution that offers:
Audit Trails. Form field audits track changes in form data and searchable fields make finding information easy. User permissions and mandated fields create accountability and consistency, creating more complete and robust data. External audit logs manage multiple versions of documents, events, and actions.
Security. Digital signatures, field signatures, strong password enforcement, and multi-factor authentication create secure data submissions to meet compliance regulations. Encryption and more strict default permissions can also be put in place for enhanced security.
Customizable: Easily integrate with other programs to avoid double entry redundancies and errors. Configure settings to meet your organizational goals, key performance indicators, and internal workflows while maintaining the agility needed for changing regulatory conditions.
Learn more about BP Logix’s Process Director for your business process governance needs by contacting us today to request a free demonstration. One of our BPM experts will learn about your goals and requirements and tailor a demonstration to meet your specific needs.
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