What is Business Process Reengineering ?
The Hartford discovered, in a 2018 survey of 1,005 small business owners, 63% said they plan only a year (or less) in advance. Successful businesses prepare well into the future by implementing a business management strategy. A business management strategy (BMS) is a methodical plan designed for developing and executing the business management process most efficiently to achieve the organization’s strategic goals and objectives. A well-known business management strategy is business process reengineering.
What is Business Process Reengineering
Business Process Reengineering (BPR) is also referred to as business transformation, business process redesign, or business process change management. It started in the early 1990’s so management could concentrate on adapting to evolving technology and other forces in their specific industry. The focus of BPR is reevaluating and updating business systems to efficiently accomplish numerous improvements in the business’ processes. These changes include reducing operational cost, improving quality and customer service, and staying competitive. BPR utilizes a logical approach for evaluating process weaknesses, identifying gaps, and taking advantage of opportunities to simplify and enhance business operations.
Advantages of BPR
- Appropriately concentrates on the business as it revolves around customer needs
- Builds a strategic view of operational procedures by questioning how processes are improved and how things could be done more efficiently
- Eliminates unnecessary activities
- Reduced the number of checks, controls, and reconciliation processes
- Reducing organizational complexity
- Provides improved sustainability and competence to an organization by eliminating lag and unnecessary phases of management and operations
- Overcomes short-sighted approaches that usually emerge from excessive concentration on functional boundaries
- It coordinates and integrates several functions immediately
The Reengineering Process
Bhudeb Chakravarti is a business leader in India among many other remarkable endeavors. Chakravarti developed INSPIRE, a seven-step framework to successfully perform the business reengineering process.
The Steps Include:
Initiate a new process reengineering project and prepare a business case for the same Negotiate with senior management to get approval to start the process reengineering project
Select the key processes that need to be reengineered
Plan the process reengineering activities
Investigate the processes to analyze the problem areas
Redesign the selected processes to improve the performance
Ensure the successful implementation of redesigned processes through proper monitoring and evaluation.
Consultance Accounting’s BPR Services
Successful businesses must be competitive, efficient, and adaptable especially with the ever-developing technological world. Consultance Accounting’s BPR service utilizes our knowledgeable business experts who inspect your business from all angles, evaluate your processes and reengineers it to help your business surpass the competition. We can modernize your business work flows, create standard operating procedures, and eradicate inefficiencies.
Our inclusive tools will identify opportunities to reduce the time and effort spent on your back-office accounting functions, while providing you with timely and steadfast information so you can make more informed business decisions.
Our Thorough Analysis Includes:
An evaluation of your “current state” to understand your overall goals and business
A comprehensive Needs Analysis, to understand your desired “future state”
Discussions regarding your current pain points
Recommendations to reengineer your accounting operations
A detailed implementation plan to achieve your desired future state