Business Process
Definition
A structured set of activities or tasks that produce a specific output for a particular customer or market. Business processes encompass everything from operational workflows such as order fulfilment and customer onboarding to strategic processes such as product development and strategic planning. Well-designed business processes are valuable intangible assets because they encode organisational knowledge, ensure consistency, enable scalability, and reduce dependence on individual employees. In the context of acquisitions, proprietary business processes can be identified as separately valuable intangible assets — particularly when they deliver measurable efficiency advantages, are documented and repeatable, and would be costly for a competitor to replicate. Process optimisation is also a key driver of productivity growth, as improvements in how work is organised and executed directly increase output per unit of input.
Complementary Terms
Concepts that frequently appear alongside Business Process in practice.
A technology that uses software robots to automate repetitive, rule-based tasks traditionally performed by humans, such as data entry, invoice processing, and compliance reporting. RPA implementations are typically capitalised as intangible assets and can deliver rapid return on investment through labour cost reduction and error elimination.
The strategic adoption of digital technologies to fundamentally change how a business operates, delivers value, and competes. Digital transformation involves significant investment in intangible assets — including software, data infrastructure, process redesign, and workforce skills — and is a primary driver of productivity improvement in modern enterprises.
The amount of output produced per unit of labour input, commonly measured as gross value added (GVA) divided by labour costs or number of employees. Labour productivity is a key efficiency metric that reflects the quality of human capital, processes, and technology deployed by a firm.
The accumulated stock of codified and tacit knowledge within an organisation, encompassing technical expertise, process documentation, proprietary methods, and institutional memory. Knowledge capital is a core intangible asset that directly influences innovation capacity, operational efficiency, and competitive advantage.
The rate at which a firm increases its output relative to its inputs over time. Productivity growth is a key indicator of operational efficiency and long-term competitiveness, closely linked to investment in intangible assets such as technology, training, and process improvement.
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