scholarly journals The Importance of Business -Process Optimization for Modern Companies

Economics ◽  
2021 ◽  
Vol 104 (3-5) ◽  
pp. 146-152
Author(s):  
Salome Imnaishvili Salome Imnaishvili
Keyword(s):  
Quality Of Service ◽  
Process Optimization ◽  
Business Process ◽  
Business Processes ◽  
Digital Technologies ◽  
Work Process ◽  
New Challenges ◽  
Business Process Optimization ◽  
Modern Technologies

Every business company is profit-oriented. The scale of profit is determined by the effectiveness of the activity, the quality of service provided to customers, speed of service, simplicity and all of the above -is the result of ongoing business-processes in the company. The forced stagnation can occur at any stage of the project development, however, even if it is not so, after a certain period, there always comes a moment, when changes in the work process are inevitable. The prerequisite for the proper writing of business-processes is a thorough knowledge of the ongoing processes in the company and the existence of relevant qualified staff. Because if any link is dropped or misspelled during the business-process cycle, the whole business-process will be wrong and the result will inevitably affect the company's efficiency. The Business-Process optimization has become vital for modern companies, especially in the age of digital technologies. The companies face the new challenges every day, and the modern technologies allow them to achieve their goals easily and at a much lower human or material costs. Keywords: Business-Processes, Optimization, Qualified Staff, Company Efficiency.

scholarly journals The Importance of Business -Process Optimization for Modern Companies

Economics ◽  
2021 ◽  
Vol 104 (3-5) ◽  
pp. 146-152
Author(s):  
Rami Aljabali Rami Aljabali
Keyword(s):  
Quality Of Service ◽  
Process Optimization ◽  
Business Process ◽  
Business Processes ◽  
Digital Technologies ◽  
Work Process ◽  
New Challenges ◽  
Business Process Optimization ◽  
Modern Technologies

Every business company is profit-oriented. The scale of profit is determined by the effectiveness of the activity, the quality of service provided to customers, speed of service, simplicity and all of the above -is the result of ongoing business-processes in the company. The forced stagnation can occur at any stage of the project development, however, even if it is not so, after a certain period, there always comes a moment, when changes in the work process are inevitable. The prerequisite for the proper writing of business-processes is a thorough knowledge of the ongoing processes in the company and the existence of relevant qualified staff. Because if any link is dropped or misspelled during the business-process cycle, the whole business-process will be wrong and the result will inevitably affect the company's efficiency. The Business-Process optimization has become vital for modern companies, especially in the age of digital technologies. The companies face the new challenges every day, and the modern technologies allow them to achieve their goals easily and at a much lower human or material costs. Keywords: Business-Processes, Optimization, Qualified Staff, Company Efficiency.

scholarly journals Company business process optimization as an imperative of its economic security

2021 ◽  
pp. 145-153
Author(s):  
I. Zelisko ◽  
O. Sosnovska ◽  
L. Oliinyk ◽  
V. Stefkivskyy ◽  
I. Manaienko
Keyword(s):  
Process Optimization ◽  
Business Process ◽  
Business Processes ◽  
Business Environment ◽  
Economic Security ◽  
Insurance Companies ◽  
Methodical Approach ◽  
Business Process Optimization ◽  
Games Theory

Purpose. To work out an algorithm of an entrepreneur business process optimization in order to systemize and ensure the quality of implementation of key business processes of an insurer as the condition of increasing his/her level of economic security in a turbulent business environment. Methodology. In the study there were used general scientific and specific methods of cognition, in particular: logical colligation, analysis, dialectic synthesis and grouping, induction and deduction, process approach, factor analysis, graphical visualization, economic-mathematical modelling. Findings. The necessity of business process optimization for an insurer was established as a strategically important subject of market relationship development. A logical-structural scheme of interconnection of the main business processes of an insurer is formed; the processes are gradually implemented by stages of insurance services progress, risks underwriting, reinsurance, effecting of an insurance agreement, forming and placing insurance funds and settlement of losses. The main structural elements of the insurers business process optimization were systemized. The methodical approach to the insurers business processes reengineering was proposed on the basis of the games theory just to form a new model of business processes and to increase its optimization process effectiveness. Originality. An algorithm of the insurers business process optimization was worked out, which includes the process of their planning, diagnostics, implementation of changes and monitoring just to increase the quality of key business process realization as the condition for ensuring economically safe functioning of the business entity. Practical value. The practical value is in the possibility to use them in insurance companies activities, which will ensure their sustainable functioning and development in the strategic perspective.

scholarly journals Specific Features of Building Business-Processes Controlling Systems in Conditions of Economy Digitalization

2020 ◽  
pp. 132-144
Author(s):  
E. A. Matushevskaya ◽  
O. S. Dotsenko
Keyword(s):  
Process Optimization ◽  
Business Process ◽  
Service Sector ◽  
Business Processes ◽  
Digital Technologies ◽  
Practical Realization ◽  
New Vision ◽  
Business Process Optimization ◽  
The Cost ◽  
Process Controlling

The article provides the research results, whose goal is to study problems of business-process controlling and to design methodological approaches and recommendations on practical realization of complex management of business-processes by using digital technologies at enterprises of service sector. The authors show and substantiate in theory business-processes at enterprises providing hairdressing services. A new vision of managing businessprocesses in current conditions of business is shown. Key principles and criteria of business-process optimization are identified, recommendations on resolving problems of using digital technologies are provided, which are necessary to optimize business-processes at the enterprise and on practical realization of complex management of businessprocesses at enterprises by using digital technologies, such as chat-bots and OCR/ICR systems meant for optical recognition and digitalization of enterprise work. The article shows that the use of modern digital technologies provides endless possibilities for business-process improvement by special systems that can change and enhance them continuously. It can simplify management methods, cut the cost of process optimization. The authors propose to introduce the system of business-process controlling and recommend to use indicators of enterprise work efficiency in view of separate processes.

High-Quality Business Processes Based on Multi-Dimensional QoS

2012 ◽  
pp. 152-171 ◽  
Author(s):  
Qianhui Liang ◽  
Michael Parkin
Keyword(s):  
Quality Of Service ◽  
Business Process ◽  
Business Processes ◽  
Heuristic Algorithms ◽  
Optimal Choice ◽  
Optimal Configuration ◽  
Functional Requirements ◽  
Services Research ◽  
High Quality

An important area of services research gathering momentum is the ability to take a generic business process and instantiate it by selecting services that meet both the functional and non-functional requirements of the process owner. These non-functional or quality-of-service (QoS) requirements may describe essential performance and dependability requirements and apply across different logical layers of the application, from business-related details to system infrastructure; i.e., they are cross-cutting and considered multidimensional. Configuring an abstract business process with the “best” services to meet the process owner’s multidimensional end-to-end QoS requirements is a challenging task as there may be many services that match to the functional requirements but provide differentiated QoS characteristics. In this chapter we explore an approach to discover services, differentiated by their QoS attributes, to configure an abstract business process by selecting an optimal configuration of the “best” QoS combinations. The approach considered takes into account the optimal choice of multi-dimensional QoS variables. We present and compare two solutions based on heuristic algorithms to illustrate how this approach would work practically.

Digitalization of Business Processes in Kazakhstani Companies

2021 ◽  
Vol 3 (61) ◽  
Author(s):  
Alua Kazybayeva ◽  
Ella Pak
Keyword(s):  
Information Systems ◽  
Process Optimization ◽  
Business Process ◽  
Business Processes ◽  
Main Tool ◽  
Optimization Procedure ◽  
Manual Intervention ◽  
Business Process Optimization ◽  
Methods Of Application ◽  
Large Enterprises

This article will be devoted to the consideration of business processes in large enterprises and their optimization. The main business processes used in such enterprises, their main algorithm and methods of application will be considered. In addition, each of the stages of the main business processes that can be optimized will be considered, as well as the optimization procedure itself and the results of updated business processes, with a description of the consequences that business process optimization procedures may entail. The main tool for optimizing business processes will be considered information systems, various CRM systems that allow you to partially or completely automate a particular process in the company, thereby eliminating manual intervention. And also, the influence of information systems on the final result.

Path Mining in Web Processes Using Profiles

2011 ◽  
pp. 896-901 ◽  
Author(s):  
Jorge Cardoso
Keyword(s):  
Data Mining ◽  
Quality Of Service ◽  
Business Process ◽  
Management System ◽  
Business Process Management ◽  
Process Management ◽  
Business Processes ◽  
Data Mining Techniques ◽  
Using Data

Business process management systems (BPMSs) (Smith & Fingar, 2003) provide a fundamental infrastructure to define and manage business processes, Web processes, and workflows. When Web processes and workflows are installed and executed, the management system generates data describing the activities being carried out and is stored in a log. This log of data can be used to discover and extract knowledge about the execution of processes. One piece of important and useful information that can be discovered is related to the prediction of the path that will be followed during the execution of a process. I call this type of discovery path mining. Path mining is vital to algorithms that estimate the quality of service of a process, because they require the prediction of paths. In this work, I present and describe how process path mining can be achieved by using data-mining techniques.

scholarly journals BUSINESS PROCESS OPTIMIZATION IN THE DIGITALIZATION ERA OF PRODUCTION

2019 ◽  
pp. 28-35 ◽  
Author(s):  
N. A. Popov
Keyword(s):  
Process Optimization ◽  
Business Process ◽  
Business Processes ◽  
Optimization Methods ◽  
Production Environment ◽  
Cloud Infrastructure ◽  
Foreign Companies ◽  
Industrial Companies ◽  
Econometric Methods ◽  
Business Process Optimization

Various business process optimization methods associated with industrial companies are reviewed, e.g. the processes of production planning, equipment and inventory maintenance as well as quality control. Case studies of Russian and foreign companies are provided. The author can conclude that digital technologies provide a significant advantage when implemented in an industrial production environment to the demands of Industry 4.0 technologies. The most promising technologies are identified for implementation with a purpose to optimize industrial business processes. According to the findings of the study, implementing econometric methods, creating a cloud infrastructure and adopting digital devices using Internet of things concepts can be named among the most efficient measures for business process optimization in production companies.

Evaluation of Standard ERP Software Implementation Approaches in Terms of their Capability for Business Process Optimization

2004 ◽  
Vol 4 (3) ◽  
pp. 271-277 ◽  
Author(s):  
Heinz-D. Knoell ◽  
Lukas W. H. Kuehl , ◽  
Roland W. A. Kuehl ◽  
Rob Moreton
Keyword(s):  
Life Cycle ◽  
Process Optimization ◽  
Business Process ◽  
Business Processes ◽  
Software Implementation ◽  
Erp Systems ◽  
Real Effects ◽  
Erp Software ◽  
Business Process Optimization ◽  
Standard Software

In spite of the great variety of potential advantages, it is also necessary to illuminate the real effects of Standard ERP Software in practice. Recent studies have revealed that 81% of German companies interviewed using SAP, do not fully exploit the software’s ability to optimize business processes, though 61% stated that SAP offers very good process optimization opportunities. (CSC Ploenzke AG, 2002, “European SAP Practice, Umfrageergebnisse,” SAPphire 2000). Therefore we evaluated popular life cycle models with respect to their suitability to implement Standard Software in a process driven way (Kuehl, R.W.A., and Knoell, H.-D., 2002, “Evaluation of Topical Approaches to the Implementation of Standardised ERP-Systems,” Proc. ETCE 2002, CD, ASME Petroleum Division, Houston, TX).

Optimization of WS-BPEL Workflows through Business Process Re-Engineering Patterns

2012 ◽  
pp. 345-361
Author(s):  
Jonas Buys ◽  
Vincenzo De Florio ◽  
Chris Blondia
Keyword(s):  
Process Optimization ◽  
Business Process ◽  
Business Processes ◽  
Process Models ◽  
Workflow Model ◽  
Business Agility ◽  
It Systems ◽  
Giant Leap ◽  
Software Fault ◽  
Business Process Optimization

With the advent of XML-based SOA, WS-BPEL swiftly became a widely accepted standard for modeling business processes. Although SOA is said to embrace the principle of business agility, BPEL process definitions are still manually crafted into their final executable version. While SOA has proven to be a giant leap forward in building flexible IT systems, this static BPEL workflow model should be enhanced to better sustain continual process evolution. In this paper, the authors discuss the potential for adding business intelligence with respect to business process re-engineering patterns to the system to allow for automatic business process optimization. Furthermore, the paper examines how these re-engineering patterns may be implemented, leveraging techniques that were applied successfully in computer science. Several practical examples illustrate the benefit of such adaptive process models. These preliminary findings indicate that techniques like the re-sequencing and parallelization of instructions, further optimized by introspection, as well as techniques for achieving software fault tolerance, are particularly valuable for optimizing business processes. Finally, the authors elaborate on the design of people-oriented business processes using common human-centric re-engineering patterns.

scholarly journals Application of Reinforcement Learning to Optimize Business Processes in the Bank

2021 ◽  
Vol 12 (6) ◽  
pp. 1638-1644
Author(s):  
Andrey A. Bugaenko
Keyword(s):  
Genetic Algorithm ◽  
Reinforcement Learning ◽  
Process Optimization ◽  
Business Process ◽  
Business Processes ◽  
Cross Entropy ◽  
Optimal Structure ◽  
Q Learning ◽  
Business Process Optimization

This article describes the application of reinforcement learning (q-learning, genetic algorithm, cross-entropy) to define the optimal structure of business processes in the bank. It describes the principle of creation of the environment, loss, and reward. Setting of hyperparameters for each method is considered in depth.  Besides, it offers the variant of calculation of the maximum potential for saving, which can be arrived at through the business process optimization.

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