Emerging technologies fueling BPM market growth
Business process management technologies have gained a stronghold in many corporate segments as companies work to develop innovative process strategies and create new revenue opportunities. More organizations could soon begin using cloud and mobile BPM solutions as they attempt to keep up with operational demands created by emerging technological solutions. A recent study from WinterGreen Research found that the broad BPM software industry is set to experience considerable revenue growth moving forward, especially as companies strive to maximize the value of cloud technologies and the intelligent device landscape.
Considering the growing BPM market
The study found that many businesses find themselves in a position where process automation has become a priority. For the most part, this need has developed as application technologies enable accelerated operations and process strategies have to be adjusted to keep up. Susan Eustis, lead author of the WinterGreen Research team that developed the study, explained that cloud computing and smart devices are integral to the changing technology climate that makes mobile and cloud BPM solutions important.
“Cloud computing and smart devices represent the major forces impacting business process management markets,” said Eustis. “As the enterprise managers work to implement apps that make automated process more responsive to the needs of customers, partners, suppliers, and distributors, people use business process management as the tools to help workers.”
Cloud, mobile and social applications have gained a prominent role in many business segments. BPM solutions are becoming integral in organizations because BPM allows companies to connect processes and workflows within applications, the study found. This can create considerable productivity opportunities for companies because it integrates various processes, so workers don’t wonder what went wrong when problems arise. Instead, they can see exactly how processes were completed, identify what went wrong along the way and quickly resolve the issue.
Maximizing BPM ROI
Developing successful BPM strategies often depends on aligning technology and management methods with one another. At its core, BPM is a management scheme that involves identifying the best way to complete processes and instituting those operational goals. BPM software, on the other hand, provides the technological capability needed to translate BPM-related ideas into operational gains. A BPM strategy overly dependent on process improvement, and not enough on technology, will often falter. Similarly, too much focus on technology can create as many problems as emphasizing management. Aligning the ideas behind BPM with the technology available is key to generating ROI.