You wouldn’t be thinking about BPM unless you had a need.
If the need is painful enough, you should be able to put a price tag on it. How many dollars are being lost or wasted as a result of your identified need? What is the monthly cost of that problem?
At this point, you have a decision to make:
- Do something
- Don’t do something
For the sake of this discussion, let’s say that your ‘need’ is costing you $10k per month.
That would suggest that you could spend up to $120k for a solution and still breakeven within 1 year. And, in the second year and beyond you will be saving $10k per month.
Or you can ‘do nothing’ at an ongoing cost of $10k per month with no solution in sight. One day in the future, you will need to do something – How much money will you have wasted in honor of procrastination?
A side benefit of doing something is that you will likely eliminate other needs that could appear in the future.
Just do it!
The ‘need’ is not likely to go away on its own. Doing nothing or procrastinating is still going to cost you the $10k per month and brings daily headaches along with it.
Risk averse? As you head down the path of implementing a solution, you may decide that you chose the wrong solution. At this point in time, you will be much smarter – you will better understand your ‘need’ and you will better understand your options for a solution. If you need to make a new decision, you will have much more information at your disposal to make a good decision.
So, what will it be – do something or do nothing?