Growth of BPM market driven by a need for increased efficiency
While the global BPM market is expected to grow by nearly 14 percent over the next two years, according to Technavio, the reason why may come as a surprise. It isn’t because firms are investing more in new process management software, but rather upgrading in order to drive increased efficiency from the solutions they already have.
According to Formtek, the main driver of investments into BPM solutions today is the need to get the maximum efficiency out of processes. Nearly 78 percent of enterprises adopt these tools to enhance their flexibility, while a similar number do so in order to improve their use of CRM systems, a recent CapGemini survey found. Both of these factors relate directly to operational optimization and the drive for improved workflow at a reduced cost in resources.
In fact, the BPM software market has benefited from the economic struggles businesses have seen since 2008, as more firms invest in it to ward off customer loss due to inefficiency, and as a result keep their profit streams coming in.
“[BPM can] make a significant contribution to driving key business outcomes and boosting business performance,” John Dixon, managing vice president at Gartner, noted. “In difficult economic times, the ability to respond in an agile manner to uncertain and changing business conditions is a true competitive differentiator. BPM enables organizations to become more agile and proactive, rather than reactive, when change occurs.”
Ultimately, the benefits of advancing business process management are plentiful, but companies need to consider the solution they invest in carefully. Not all platforms are created equal, and only by selecting a scalable solution that meets operational needs will an enterprise be able to maximize the returns. For many, this means turning to new trends, such as the cloud or mobile, in order to achieve the desired results. Cloud BPM solutions offer significant flexibility over their counterparts, while mobile tools promote a broad spectrum of changes in work processes by supporting BYOD and other mobility trends.
The trick for any business is to optimize its selection around workflow needs, rather than making unnecessary changes to operations to fit the software in. While change is often an inevitable result of BPM solutions – and often a desired one – firms have to establish boundaries and ensure they aren’t making a concession in order to do so.
Director of Corporate Communications