Global Business Process Management Expected to Grow
The phone rings and it’s your boss. Whatever you do now needs to be done four times faster – your job now hinges on the efficiency of your workflow. You’ve got to find a way to speed things up exponentially, without losing data or impairing the quality of customer and client service. It sounds like a desperate science fiction scene in which you’ve got to make the spaceship go faster without going off course, right? Welcome to the world of business process management, which now permeates every corner of corporate culture.
BPM Improves Speed and Accuracy
Business process management (BPM) is the art of making business workflows more effective, more efficient and more capable of adapting to an ever-changing environment. BPM is about more than just creating speed, however. The field is also devoted to minimizing redundant and repetitive tasks, reducing human errors, improving communication, and enabling employees to focus on their core roles.
BPM Growth Fueled by Cloud and Mobile
Traditionally, BPM has been an in-house activity, but with advances in cloud computing, there is increased interest in on-demand, software as a service (SaaS) offerings. And with solutions more available to small businesses and entrepreneurs via mobile, social, and cloud technology industry analysts are predicting exponential growth in BPM solutions.
Businesses once devoted much of their IT budgets to creating BPM systems, but a survey by Gartner shows that an increasing number of companies are turning to online solutions or pre-designed workflow automation software, and funding the cost from their business budgets.
BPM Software Appeals to Large and Small Firms
Explosive, hockey stick growth is predicted for BPM software and online forms because they are accessible to individuals and small businesses via mobile devices. According to IT powerhouse Cisco, there are now over 7.4 billion mobile devices in circulation, and over 400 million new devices purchased every year.
A 2015 report from Gartner also explains that in addition to smart device adopters, the new BPM tools offer advanced services like analytics, custom designs, process simulations, real-time decision management, and enhanced support – qualities that attract midsize and large businesses.
Industry experts claim that BPM as a service or SaaS market will grow 37.18% by 2019.
The Birth of iBPMS
Having a one-stop solution for all kinds of workflow challenges has given rise to a new industry niche – the intelligent business management process suite, or iBPMS. The iBPMS providers create internet drive-throughs that offer the ability to create online forms, form creation software, and easy-to-use workflow tools.
The Bottom Line
And it isn’t just efficiency and accuracy that businesses are looking at. According to Harvard Business Review, companies that manage their sales pipelines effectively are achieving a 5.3 growth rate and revenue increases of 15% to 28%–versus companies with poor pipeline management in their survey who eked out only a 4.6 growth rate.
Gartner research director Rob Dunie says that one of the key strengths of BPM tools and iBPMS is that it provides critical intelligence when talking to customers. “An iBPMS supports business responsiveness, often at the ‘moment of truth’ in a customer interaction,” said Mr. Dunie.
Global BPM solutions and suites can be found for every type of business – retail, service or manufacturing – and for every size.