Business Activity Monitoring component is one of the features of BPM tool that provide monitoring, aggregation, analysis, measurement and presentation of business activity results to the executives or whoever needs to take better decisions.
Most of the BPM tools provide necessary utilities to monitor the processes, but only some BPM tools project the high level details about the business activities. Since an organization contains many complex and critical business processes, managers of an organization may not be able to take better decisions with detailed level of business analysis. In these situations business activity monitoring component provides the overall details of the processes and helps the managers in many ways to take advantage of it.
Advantages:
- Business Activity Monitoring can watch out each step of business processes and provide information in a graphical format from applications like Business Process Management (BPM), Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Materials Resource Planning (MRP), and Supply Chain Management (SCM), Databases or any other applications.
- Business Activity Monitoring, monitors key performance indicators of an organization, abrupt changes in an industry, and competitor’s offers.
- Business Activity Monitoring provides insight about IT systems performance, statistics on business process performance which fine tune operations.
- Business Activity Monitoring provides real time access to business information.
- Business Activity Monitoring helps the organization to respond to new opportunities and threats.
- Business Activity Monitoring provides historical trends, score card, balanced score card based on organization’s key performance indicators, which improves s the speed and effectiveness of business operations. Scorecards can be of organization level or department level or business process level.
- Business Activity Monitoring acts like a fore-teller and predicts the critical elements of business processes, the problems of an organization very much earlier.
- Business Activity Monitoring alerts about the new problems, quickly address the problem before it reaches a bigger level.