According to big data analyst Nathaniel Palmer at BPM.com, BPM technology has evolved over the years. As a result, it also transforms the workplaces that use it. While it’s hard to determine when it started to gain heavy popularity, BPM has never failed to deliver good results. In other words, it seems that business process management (BPM) solutions are set to grow even further.
Here are some other reasons why BPM is set to expand in 2015 and beyond.
The Year of the Customer
The corporate landscape is changing as we know it; and fast. This calls for management solutions that are capable of accommodating that change as it happens. One of the biggest changes involves customer procurement and interactions. In the world of business, a happy customer is a competitive advantage. This year is all about mobile technologies, business optimization and the cloud as well as how these aspects affect customer experiences.
Businesses that rely on outdated or manual processes tend to frustrate customers. Clients want to be serviced fast and automated BPM software solutions allow companies to cater to this growing demand. Let’s explain this with an example. Customers would rather access or transfer funds online on their own schedules rather than wait for the bank to open its doors. They want to manage every aspect of their financial situations themselves. And every business owner knows that there is no other way to ensure customer loyalty than keeping customers happy.
The Rise of Automation
When it comes to business process management, the businesses of today strive to automate business steps in an effort to streamline them for process efficiency. BPM solutions provide them the tools they need to automate complex steps, realize cost savings, improve accuracy and customer satisfaction. One of the most convenient aspects of these tools is that they are now designed to adapt to existing workflow management systems.
Nathaniel Palmer explains that adaptable automation is enhancing what can be automated. The term “BPM” might have been frowned upon incorporate circles before; however since the technology is operated by data driven processes through an “intelligent hub of BPM” it does have the capability of returning to the forefront.
Big Data Analytics
“Big Data Analytics” is the buzzword in BPM solutions. It has literally transformed the way most businesses analyze, manage and utilize massive amounts of information. The technology makes it possible for companies to make better decisions, assimilate data easily and therefore provide them actionable insights. Palmer explains that “Big Data” has never been so large before. BPM will be everywhere in an era where all devices imaginable from smart homes to cars and phones, are connected. Traditional software techniques will not be able to keep pace with the interactions that are associated with complex connectivity.
Industry Specific Solutions
Modern businesses strive to provide services that are industry specific or highly customized. And industries change as market demands do. Manual business processes are hardly equipped to keep up with changing demands. Customer interactions need to be monitored to facilitate possible changes. Processes need to be tweaked in this regard. Companies that manage to integrate and leverage business process management have a lot to gain.
If current trends in workflow management systems are anything to go by, it seems that BPM software solutions are here to stay.