Intriguing Developments in BPM
Business Process Management (BPM) drives business success and is a critical building block for a sustainable business. It is argued that its adoption rate is expected to grow over the years. Some thought leaders are of the view that by 2025 the BPM market is expected to grow up to a massive value of $14.4 billion. Furthermore, BPM interest amongst business executives is expected to continue increasing.
Business executives need to keep themselves abreast of technology advancements that are impacting the adoption and implementation of BPM. They are disrupting the methodologies along with modelling techniques which businesses have utilised for years within BPM. We are currently seeing the impact of automation through artificial intelligence and integration technologies, changing business processes as we know them for better.
It is worth interrogating these developments so that organisations can better position their BPM strategies to be aligned with the “vision” of the future of technology. I have read through various publications by technology thought leaders and have summarised few trends that are shaping and impacting the direction of BPM. The trends Cover both technology and non-technology related advancements.
The first development is that BPM is now shifting focus from being centred around the “voice of the process”, instead to “voice of the customer” (VOC) and “employee engagement”. This means if utilised right BPM can be a great competitive advantage for companies. Moreover, companies are likely to achieve better employee retention, when their BPM strategies are centred around their employees being a critical building block for it. Additionally, when VOC is at the centre of BPM strategy, this means the service, products, or technology, such as chatbots would be delivered in a manner that results in greater customer delight.
Hyper-automation, which is because of advancements in AI, is the second trend. Hyper-automation streamlines BPM by leveraging intelligent tools, such as robotics process automation (RPA), process mining, task mining, low code-no code, intelligent business process modelling and process analytics. Leveraging such tools as part of BPM strategy can enable high levels of process efficiency along with reduction in costs.
The third trend is that BPM will continue strong, as a digital transformation enabler. BPM is expected to continue being central in digital transformation initiatives. It is one of the essential building blocks when designing sustainable architectures for digital transformation.
Lastly, BPM brings great collaboration for organisations, and this is expected to continue being a major benefit of BPM. Organisations that manage to achieve effective and efficient collaboration, stand to realise more productivity along with customer satisfaction. Teams, departments, divisions, and cross entities within a group of companies can communicate and add value to each other through well-established BPM structures. Teams across the organisation can achieve process improvements through collaboration that can be enabled by BPM initiatives.
Th future for BPM is promising and organisations stand to reap massive results from its adoption. However, one needs to be cognisant of technologies that are shaping the direction of BPM. The opportunities are endless for organisations.
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Here are some links of the thought leader pages/articles that inspired this blog.
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