Enterprise’s process innovations in the context of enterprise’s financial performance

Abstract

Enterprise process management is one of the most important components of enterprise management. It is necessary to know, optimize and innovate the ongoing processes in the enterprise in order to efficiently meet the established results of the enterprise in order to enhance the efficiency of the enterprise’s processes themselves and satisfy the customers’ requirements in the context of the financial performance enhancement and competitiveness of the enterprise. The enterprise’s financial performance is measured as the rate of achievement of the enterprise’s financial performance by comparing actual and established results. In assessing the performance of ongoing processes in the enterprise, it is necessary to establish procedures that provide objective information on ongoing processes in the enterprise. The aim of the paper is to analyze enterprise’s process innovations in the context of enterprise’s financial performance enhancement and to assess opportunities to develop these processes as fundamental aspects of measurement and enhancement of the enterprise’s financial performance. The result of the research is that the implementation of enterprise’s process innovations has a significant impact on enhancing the enterprise’s financial performance, assuming optimal control and coordination of all ongoing activities in the innovation process.