A business process is an activity or set of activities that will accomplish a specific organizational goal. It coordinates the behavior of people, systems, information, and things to produce outcomes ...

A process map is a visual diagram of a process that involves multiple steps. Maps help give managers a comprehensive overview of a process in order to spot inefficiencies, slack time or bottleneck ...

High-performing companies make business process improvement a core competency. These leading firms share a common characteristic: they continually find clever ways to improve the process of process ...

We now turn our attention to the process of understanding practically how the solution will fit in with – and usefully ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Process mining is now part of Microsoft’s process automation suite, giving you the KPIs and visualizations you need to identify bottlenecks in both manual workflows and software processes. Automating ...

I’m sure you’ve heard the old saying, “If it ain’t broke, don’t fix it.” Well, if your goal is to achieve sustainable growth in your business, that might just be the worst advice you could follow. Why ...

Flowchart vs. process map, what do you choose to use? When it comes to mapping out a project, you’ve got several choices on how to visualize them. If you’ve had trouble deciding on a format for your ...

Business process outsourcing involves the outsourcing of business functions to external companies. To clarify, many companies outsource tasks to external providers. An example may be hiring a ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Business logic is the custom rules or ...