Business Process Management (BPM) has disrupted the way organizations manage business processes. Companies everywhere are keen to implement BPM to improve their business process to survive and flourish. According to this report, the global BPM market is expected to grow at a CAGR of 10.5%, from USD 8,766 million in 2020 to USD 14,440 million by 2025.
Riding the wave of digital transformation in Information Technology and Services (ITES), computer software and financial services, BPM has emerged as a critical pathway for the survival of businesses. Companies that demonstrate alternative business models aimed at process optimization are found to thrive well even in highly competitive business landscapes. They implement BPM process flow for transparency, efficiency and control across the entire process lifecycle, including employee collaboration.
The importance of process in business is the key reason for the increased adoption of enterprise-wide BPM process flow. While it enhances the production environment with higher productivity and scalability, Business Process Management also determines how work gets done and at what costs or value creation for customers. Shaping this revolution in process management are Business Process Management software and tools that help organizations manage their process workflow with intelligent hyper automation and end-to-end transparent workflows for an integrated view of business-critical and non-core processes.
BPM – riding the waves of innovation
The need to replace legacy architecture and applications without impacting the data and access has ushered in a revolution in advanced automation and bulk integration with software platforms. Companies are keen to leverage the combined power of technologies, such as AI, machine learning, and predictive analytics, together with real-time data governance for intuitive automation across all channels in the business ecosystem. With scores of BPM software to choose from, businesses face the challenge of implementing the right BPM tool for change management.
Implementing Business Process in your Company
With automation at the centre of a business’s digital transformation journey, the BPM process flow becomes a critical part of the business value chain in organizations. And the BPM software allows enterprises a granular view across the process lifecycle. It uses multiple methods to enhance a business process by analyzing, modeling, monitoring and implementing changes for desired business outcomes.
If your company plans to implement Business Process Management within its process environment, you may first like to examine the various benefits of BPM that add business value to your company and its stakeholders.
Benefits of Business Process Management
The optimization of operations is a business goal for every company on the digital transformative journey. It includes having a process management plan in place that designs workflows for operational efficiency and removes silos.
To further understand the benefits of BPM software, we give you an overview of the advantages of Business Process Management for your company.
1. Digital Transformation
With digitization and documentation of every process, a BPM implementation adds to the digital transformation roadmap of a business. Implementing low or no-code BPM platforms help companies optimize processes, bring in automation, and transform their operations, thereby setting them up on the journey towards digital transformation.
2. Streamlined Workflows for Greater Efficiencies
Digitized, automated and intuitive workflows replace traditional methods, yielding greater efficiencies. The automation of tedious, repetitive and manual tasks such as data entry and approvals streamlines workflows to minimize errors, wastage and process outages.
The standardization of the BPM approach improves work quality and process efficiency for speedy decision-making, minimal errors and embedded analytics for a 360-degree view of performance and business processes.
3. Higher Productivity
Implementing Business Process Management helps build frameworks that increase process efficiency and process analysis for higher outputs and work productivity.
4. Mitigating Errors and Process Silos
Companies reap the benefits of automation by mitigating errors and process gaps. With business processes managed in spreadsheets, there is stakeholder accountability, which in turn, helps minimize error-prone sequences and redundant deployments.
5. Eliminating the pitfalls of Micromanagement
As the Business Process Management methodology follows a documented procedure and protocols, teams do not need hand-holding and micromanaging, providing far-reaching benefits for the organization on the whole.
6. Flexibility in the Company’s Process Roadmap
The benefit of BPM software is the clarity of tasks and the flexibility of course correction to build any complex process. It drives scalability and seamless collaboration, as process workflows are easily navigable and agile.
7. Scalability and Agility
BPM creates the framework for process integration with innovations in cloud services, AI capabilities, changes in compliance and emerging market opportunities. Companies implement BPM process flow for greater flexibility in process management and scalability in intelligent automation, reporting and analytics.
8. Streamlined Access controls
The automation underpinning of Business Process Management (BPM) and its structured approach helps streamline processes using fewer steps, less code and data, and manual tasks. Companies can shoehorn various project requirements for greater visibility. This, in turn, helps maintain tighter access controls across the business process lifecycle for strategic alignment with the company goals of change transformation.
9. Higher Customer Satisfaction
Business Process Management benefits customer experiences in multiple ways. Analysis of existing and traditional processes identifies gaps in customer service. From the automated collection of customer data from various sources to eliminating redundant information inputs, the BPM advantage helps deliver and deploy better products to customers for higher customer satisfaction (CX).
Conclusion
Selecting an appropriate Business Process Management System can help optimize your enterprise’s business processes while meeting the dynamic requirements of your customers. Once your team understands the benefits of implementing a BPM software solution, you can onboard BPM experts to design business processes to meet your project requirement, automation roadmap, and integration of core operations with the various communication systems within the business ecosystem.
At WNS-Vuram, we understand your strategic needs for integrating process transformation and help you implement the right BPM software within your IT infrastructure. With years of expertise in Appian’s low-code platform, we can help you get started on your BPM journey, and reap the benefits of successful implementation.
