Interest in BPM technology is constantly growing year after year.
This is largely because the processes based on manual work and paper documents have become obsolete. Automated business processes have replaced them. They ensure both customer satisfaction and the establishment of work processes. Most importantly, they contribute to maintaining competitiveness.
Business process management technology appeared on the IT-market at the beginning of the century. Since then it has rapidly become a "must-have" for all kinds of industries.
According to Mordor Intelligence, last year the value of the BPM market was $ 3.18 billion. By 2024 it is expected to reach $ 4.5 billion.
Bpm technology trends
Innovations are the main drivers of growth for all IT technologies.
Let's focus on 5 important BPM technology trends that are gaining popularity today.
1. Internet of Things (IoT)
The Internet of Things affects almost all areas of our lives without exception. In the future, this technology will only grow, and this obliges all businesses to adapt.
Are they ready for this?
With business process management software they are.
It takes care of many important aspects, such as:
- analyzing and reporting on the necessary data
- managing customer service processes
- the widespread introduction of innovations
The integration of BPM and IoT is 100% beneficial. On the one hand, IoT devices get the opportunity to work without failures, and on the other that necessary data is analyzed from a central location, and any changes can be reverted.
2. Artificial Intelligence (AI)
The use of AI with BPM is a very promising combination. It heralds a real revolution in the implementation of standardized processes and unstructured work.
Artificial Intelligence technologies do sentiment analysis and transform unstructured data into more organized systems. One of the main advantages of machine learning is the ability to accumulate experience in the analysis of work processes. As a result, we get better performance and process effectiveness.
Thus, previous analysis or real-time analysis provides the automation process with the most appropriate solutions.
3. Robotic Process Automation (RPA)
Robotic process automation has proven itself very well in the financial sector and customer service. Interestingly, a few years ago RPA was considered an alternative to BPM. Even so, very soon it became clear that these two forms of business process automation are destined to cooperation.
RPA is a great tool for performing single operations. But it has a limitation - the difficulty of integrating single operations into a chain. These tasks need BPM. As for the BPM side, RPA bots are seen as an excellent tool for quick integration with enterprise systems.
Such interaction minimizes errors and gives more time to employees for more important actions.
4. Virtual Reality (VR)
Today VR is successfully used in many sectors of our lives. Scientists believe it has an equally bright future in the improvement of business process management.
VR along with Augmented and Mixed reality opens up opportunities to interact with three-dimensional images in real-time. It can significantly improve learning and visualization processes for software users. As well as provide information during the process in hands-free mode. All this can speed up data sharing and increase employee productivity.
A low-code platform is a software that allows you to develop digital products. Yet not with traditional programming, but with using the graphical interface.
According to Gartner, by 2023, 25% of all new IT solutions, web sites, mobile applications, and chatbots will be based on low-code platforms.
BPM technology was no exception and has almost completely switched to the low-code side. Why? Because it helps to solve the implementation, configuration, and software support issues.
With low-code users get a functional automated process that can be adapted to the company’s processes. This gives them the ability to take charge of their processes and implement automation without needing to rely on the IT team.
Benefits of Using BPM Technologies for Business
The benefits of BPM technology for businesses are as significant as they are convincing. Companies can “feel” them almost immediately after the implementation of the solution.
- Transparency. Thanks to BPM technology, the manageability of business processes across the company is significantly improved. The activities of all employees and departments become transparent, streamlined, and easy to track/test.
- Improving employee productivity. The BPM system provides company staff with ready-made, well-thought-out instructions that simplify every step of the workflow. This increases the speed of completing tasks and meeting deadlines.
- Simplification of routine tasks. Thanks to automation and the use of intelligent technology, BPM frees employees from performing energy and time-consuming routine operations. The system handles many of them independently, without human intervention. This increases the accuracy and speed of daily operations.
- Improving efficiency. The technology has the tools to analyze the duration and results of the processes, the workload of employees, and their efficiency. Such monitoring allows you to find problem areas of processes and quickly eliminate them.
- Flexible upgrade. Modern BPM tools support the flexible modernization of existing business processes without involving programmers. If necessary, a business analyst or the process participants can improve the process.
When is the right time to implement BPM?
Let’s be honest, many business owners have already heard of BPM technology. At the same time, not all of them understand that their business needs to use it.
Let's consider a few real problems and how they can be solved by a properly developed business process management system.
- The implementation of business processes takes a lot of time.
Solution: The system remembers each task of each process and gives timely reminders of the approach of the boundary date.
- Your company works with several information systems.
Solution: The BPM solution is easy to integrate. This means that the principle of a one-time input of information is being implemented. Thus, labor costs are reduced and information integrity is guaranteed.
- Various employees, departments, and structural units are involved in the business process.
Solution: The system automatically transfers the necessary data to the right employee at the specified time.
- Your business is completely dependent on repetitive processes. (e.g. logistics, trade).
Solution: In this case, BPM becomes an integral part of the business strategy and is the most effective tool for automating and modernizing the business.
Does your business face any of the challenges above? Then it’s time to consider BPM implementation.
The only thing to do is to find the right developer.
For searching and comparing companies of BPM software developers, you can use Capterra. There you can get acquainted with customer reviews and view the ratings of vendors.
In any case, trust the development of such important software only to experts.
BPM technology is developing rapidly today. It takes into account all the innovations in the IT field. This helps to provide companies with indispensable tools for rapid development and growth.
A business that will prosper in the future is one that is ready for the upcoming changes. Business process management always gives you a competitive edge.
Thus, your business will benefit from the implementation of BPM, regardless of the field of your activity.
Interested in BPM? Our business analyst will assist you in drawing up the correct “process map” to optimize your work as much as possible.