Business intelligence solutions are becoming critical for enterprises across every industry. In order to keep up with the competition and meet customer expectations for service, firms have to ensure they are optimizing their own workflow and implementing key solutions for analytics.
According to a recent study and infographic from IDC, sponsored by SAP, there are several factors weighing heavily on company leaders. Nearly 69 percent of businesses that responded said they plan to invest in predictive and other advanced analytics solutions this year. However, around 68 percent of firms said they don't have any business intelligence solutions in place currently, and 63 percent of IT executives reported not being familiar with the phrase big data - a key concept in the intelligent enterprise space.
With data becoming a key resource for every company, it is important for firms to embrace this movement toward high-speed, high-quality intelligence. Data generation is growing at a rate of more than 60 percent a year, and factors like cost control, process optimization and risk management are driving investments into solutions to meet big data and analytics head one. For some companies, especially those that already have analytics in place, the answer may lie in intelligentbusiness process management software.
Efficiency
BPM software provides the foundation for overall enterprise efficiency and meeting any goal, but it it's technology or workforce based. By optimizing operations for efficient and streamlined workflow, companies will be able to harness new and growing data volumes more effectively and see an increase in both productivity and revenues.
Cost reduction
One of the main benefits of being more operational efficient is that it reduces costs across the board. For many businesses, this will enhance budget management and help fund other project, but it can also help firms eliminate a deficit and boost profits. This will help realign budgets with current enterprise goals and streamline spending to income ratios for any company.
Eliminating risk
Optimizing workflow with a powerful Appian BPM suite will help cut risks and other problems from operations as a whole, providing a stronger backbone to overall operations for most. This will ensure smooth transitions to other initiatives and help companies adhere to process improvements without causing undue stress for employees that might otherwise struggle to meet their daily goals.
Ultimately, business process management can provide clear advantages when it comes to optimizing workflow in the digital age and harnessing the power of intelligence in the enterprise.
Ben Farrell
Director of Corporate Communications
