A business process model is often a set of activities or tasks that help companies produce consumer goods or services. Many companies develop process models using a flowchart or diagram that offers a graphic representation of the company’s activities.
A company’s accounting department is a classic example of a business process model. Accounting involves several individual tasks or activities a company will use to move financial information through the company’s internal processes.
The accounting process typically includes tasks such as accounts payable, billing, accounts receivable, fixed assets, payroll, reconciliations and general accounting. Companies use a flowchart to show where a financial document enters the company and how individual employees complete tasks.
Using business process models can help companies determine whether they have any redundancies or unnecessary tasks in their business operations. It can also provide some flexibility when owners and managers need to make a change to operations. They can review the process model and find the best way to add or subtract activities when implementing new processes.