The letters "BPM" stand for Business Process Management. BPM encompasses a systematic approach to improving and optimizing an organization's business processes. It involves the identification, analysis, modeling, and monitoring of processes to enhance efficiency, effectiveness, and agility. BPM tools and methodologies enable organizations to streamline operations, reduce costs, and improve customer satisfaction by ensuring that processes are aligned with business goals. Implementing BPM can lead to significant performance improvements over time, making it an essential practice for organizations seeking to remain competitive.