Helps guide the way to Business Process Maturity and improved Financial Performance
The Process Management Research Center at Babson Executive Education—a leading worldwide provider of executive education solutions—has partnered with DRK Research LLC to develop and market the Process Management Assessment Tool (PMAT), a new data collection tool that helps companies correlate their business process maturity and financial performance.
“Competing on process is the new competitive battle-ground in today’s corporate environment, and business process maturity-- assessing how well an organization links business strategy and customer needs to every aspect of process design and management--is critical in winning the battle,” says Babson’s Tom Davenport, President's Distinguished Professor of Information Technology & Management.
Babson and DRK’s research in this area spans over 15 years with organizations from around the world. Their research found that businesses with high levels of business process maturity performed 20-30% better in all aspects, especially in customer satisfaction leading to increased market share.
“A process management assessment enables an organization to identify the actions that will increase the likelihood of realization of benefits from a process improvement program or project,” says Brad Power, Executive Director of the Process Management Research Center. “Process maturity isn’t an end in itself, but it’s a critical enabler of process changes that reduce costs, speed throughput, and eliminate errors.”
PMAT will help organizations manage their maturity program. It will also guide their efforts going forward, target necessary resources along the way, and maintain a balance among various groups within the organization.
“PMAT is a GPS for your business,” says Kevin McCormack, Founder, DRK Research LLC. “It shows you the most efficient route to process maturity, monitors your progress, and shows you where to target your process investments.”
About the Process Management Research Center at Babson Executive Education
Whereas process improvement trends come and go, innovative companies are turning to longer-term, strategic initiatives that manage end-to-end processes and improve operational results, including: reduced costs, increased quality, enhanced customer service, and accelerated innovation. Through the Process Management Research Center, companies, thought leaders, and process experts explore results-oriented practices and innovation in process management that are critical in today’s global environment.
Babson Executive Education is ranked among the world’s best executive education providers. Organizations across the globe and from key industries choose Babson for progressive and flexible solutions that leverage the global business and teaching expertise of faculty, industry experts, and partners. Babson Executive Education’s client-centric solutions include a strategic blend of education, consulting, coaching, and research to enable Clients to analyze challenges, develop solutions, and implement strategies to meet their goals. For more information, visit: www.babson.edu/bee.
About DRK Research, LLC
DRK Research is a global provider of business process services using advanced analytical models developed through rigorous research and applications targeted at high value business opportunities. Their analytical models been proven to lead to improved profitability and growth. DRK’s global research team has a history of commitment and success in serving clients in North America, Europe and China. They have published six books and hundreds of articles in several languages. Their most recent book is “Business Process Maturity: theory and application”.
