Business activity monitoring (BAM): How to monitor business processes

Business Activity Monitoring, commonly known as BAM, is a tool that has been used by many companies worldwide and is considered an excellent solution for companies to monitor objectively and transparently through the course of different business process occurrences.

The tool consists of monitoring the business processes of a company to meet the management indicators that it generates. Through a dashboard (control panel) managers have full and real-time access to process monitoring, which includes, relevant indicators for the operation, the ability to identify bottlenecks quickly and see delays in deadlines and deviations in planning.

Elements are used such as speedometers, charts, tables, cards, and maps, making it an incredibly intuitive reader and assimilator of instant information.

The layout of a dashboard should necessarily follow a sensible format monitoring the needs of the processes. It is crucial for the manager to be able to assimilate a variety of information on a single screen, without his having to perform many clicks. If predefined panels and ‘casts’ do not meet user expectations, the BPM tool should offer a flexible Business activity monitor editor for the process analyst to create your custom panels.

Why use BAM? Advantages of Business Activity Monitoring

Why using BAM? Advantages of Business Activity Monitoring:

BAM tools monitor systems, to be able to alert the users about possible bottlenecks and provide feasible solutions. These tools are leading all systems that affect the company’s activity development in any way.

  • BAM can be used in monitoring solution by IT experts that would like to reduce IT environment costs at the same time that the service quality is improved.
  • BAM offers supervision on server management and critical business applications.
  • It shows the feasibility requirements for business processes from end to end.
  • It provides decision-making information and helps reduce the operation and running time.
  • These tools help in protection and troubleshoot bugs and viruses.

Guarantees programmed maintenance, alerting the maintenance team if the maintenance programming has been accomplished or not.

Optimizes work tasks If a task’s duration time is surpassed, operations are alerted in order to

Uses for Business Activity Monitoring (BAM)

In this section, we’ll tell you about some applications where BAM tools are used, so this will give you an idea about how these tools are going to help your business. Some of the practical applications for BAM tools are given below:

Accounting:

  • Monitoring on account balances and alerts sent when the established balance is broken or if thresholds are surpassed.
  • Notifies clients when their bills are due or overdue.
  • Notifies the accounting department if a new account is added to the system.

Operations:

  • Monitors inventory levels.
  • Notifies the storage manager when the material is below the necessary quantity.
  • Monitors fields such as expire dates, client data, etc.

Sales and marketing:

  • Notifies when an order has been attended or sent off from storage.
  • Notifies clients when there products or services are available.
  • Automatically sends bills when the process finishes.

Human Resources:

  • Supervises employee payrolls.
  • Monitors vacations and other employee benefits.
  • Notifies employees about events that affect company activity, such as holidays.

Risks:

  • Online transactions via credit cards can lead to fraudulent activities. Mobility and management insight with business activity monitoring:
  • Transparent checking of the workflow and responsibilities;
  • Measure the execution time of activities. Read more about Business Process Automation.
  • Monitor compliance with deadlines for the delivery of activities;
  • reduction of risks and operating costs;
  • Communication of goals, objectives, and results;
  • Promote engagement from the team.

Mobility and management insight with business activity monitoring

Below are some of the highlighted features of monitoring processes with BAM:

  • Presenting processes indicators through an intuitive vision
  • Integrating information on various systems and applications through dashboards
  • Reducing operating costs
  • Improving the performance of processes
  • Reducing latency in decision-making
  • Proper communication of goals, objectives, and results

What are the gains from monitoring processes with BAM?

  • Below are some of the highlighted features of monitoring processes with BAM:
  • Presenting processes indicators through an intuitive vision
  • Integrating information on various systems and applications through dashboards
  • Reducing operating costs
  • Improving the performance of methods
  • Decreasing latency in decision-making
  • Proper communication of goals, objectives, and results

What are the benefits of BAM?

Market Analysis and its dynamics:

With the receipt and evaluation of information in real-time, the natural result is a more effective monitoring of the market dynamism, ensuring that any changes are absorbed faster.

Identifying Opportunities and risks

When you keep up with the dynamism of the market it is much easier to identify business opportunities and risks. With this, you can also prepare to absorb impacts or take advantage of opportunities, ensuring more stability.

Preparing to compete

Having so much information, the company becomes more prepared to be in the market and also more competitive, achieving better results. It also ensures more stability for the company, which manages to enter into the market.

In order to use BAM it is necessary to have some kind of tool for data collection, monitoring of results and viewing in real time. QAS Group has developed strategy to overcome the problems and utilize above mentioned benefits.

Below mentioned are some benefits which can be obtained from BAM.

Cost Optimization:

Since it is possible to have relevant information in real-time and as decision-making becomes more accurate and efficient, you can reduce expenses and also optimize costs, ensuring that investments are rented more efficiently.

 

Market Analysis and its dynamics:

With the receipt and evaluation of information in real-time, the natural result is more effective monitoring of the market dynamism, ensuring that any changes are absorbed faster.

 

Identifying Opportunities and risks

When you keep up with the dynamism of the market, it is much easier to identify business opportunities and threats. With this, you can also prepare to absorb impacts or take advantage of opportunities, ensuring more stability.

 

Preparing to compete

Having so much information, the company becomes more prepared to be in the market and also more competitive, achieving better results. It also ensures more stability for the company, which manages to enter into the market.

 

To use BAM, it is necessary to have some tools for data collection, monitoring of results, and viewing in real-time. QAS Group has developed a strategy to overcome the problems and utilize the benefits mentioned above.