Business process management (BPM) takes an important role in every organization and every industry. Manual, repetitive, and paper-based workflows are being improved and automated. When companies control and streamline various operations, monitor tasks, and plan activities, they manage to boost staff productivity and overall efficiency, as well as stay competitive.
You will be able to achieve all of these goals with the help of BPM solutions. Sounds great, doesn’t it? In this article, you will learn answers to the following questions:
- What is the business process management definition? What is BPM software?
- What are the key benefits of BPM applications?
- What are the most interesting and innovative BPM solutions that you can use?
What is BPM?
BPM is a discipline in workflow and task management when companies and employees employ different ways and techniques to analyze, enhance, optimize, and automate various business processes. As any combination of methods used to control workflows refers to BPM, it is applicable in each industry and organization. Aiming to streamline operations and increase efficiency, you can integrate BPM technologies.
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.
What is business process management software?
BPM software, or simply BPMS, comprises all tools that enable organizations to monitor, automate, analyze, and improve business processes. BMSS solutions can help you map workflows in order to find and remove bottlenecks, boost the company’s performance, raise employee productivity, as well as manage and optimize costs.
Generally, a BPM methodology is based on the following concepts:
- Management — With BPM solutions, you can take deep insights into the company’s processes, receive enterprise data in real-time, control projects, monitor activities performed by employees, and track their progress.
- Modeling — You can map out business workflows, create project roadmaps, enable visualization, make time and budget estimations required to execute a process.
- Optimization — Using a BPM application, you can explore how to streamline workflows, reduce costs, minimize human and data errors.
- Automation — BPM solutions can be used to move from a paper-based to electronic workflow, centralize document management, automate customer service, as well as numerous manual, routine, data-intense, and repetitive tasks.
Therefore, various applications can refer to BPM solutions, from Internet of Things-enabled software and project management systems to Artificial-Intelligence chatbots and robotic process automation tools.
When deciding what kind of service you should integrate, analyze the company’s workflows, define what activities or metrics can be improved, and clarify your business objectives. Explore the key benefits of BPM technologies that you can receive.
Top 8 benefits of BPM solutions for your business
BPM is a broad category that comprises different software solutions. The main benefits of business process management technologies are:
- Automation of various business activities, for instance, data search or entry, information analysis, customer identity verification, user request processing, etc.
- Improved control over task and project management. With specific BPM software systems used in your organization, you can monitor all activities made on the project, manage due dates, track arising issues, and more.
- Boost staff productivity with the help of BPMS solutions. Since employees are relieved from completing various tasks, say, answering frequently asked questions or manually searching information, they will be able to dedicate themselves to more important activities. As a consequence, the overall company’s performance will also be increased.
- Electronic document management instead of a heavy paper-based workflow. Information search will be much faster, all the data will be centralized while access to it — controlled.
- Cost reduction. Imagine: employees are relieved from multiple tasks spending more time on other important things, data search and analysis are carried out faster by 5-10 times, customer service is provided 24/7 using, say, an AI-based chatbot.
As a result, you will manage to optimize labor and operating costs. There are many other BPM examples that you can employ, for instance, robotic process automation tools, mobile apps, and IoT-enabled systems or smart devices.
- Transparency. Due to BPM solutions, monitoring and management of business processes in the company is significantly improved. Activities of all workers and departments become transparent, streamlined, and easy to track/view/check.
- BPM technologies can provide you with tools to analyze the duration of processes, their results, the workload of employees, and staff efficiency.
- Flexible upgrade. Modern BPMS solutions support flexible modernization of the existing business workflows without involving programmers. If necessary, a business analyst or another specialist can help you.
Business process management software emerged on the IT-market at the beginning of the century. Since then, the use of BPM applications has rapidly become a "must-have" for all kinds of companies and industries.
As there are so many benefits of BPM, no wonder, that the interest in BPM technologies has extremely increased for the past several years. Take a look at the most interesting and useful BPM solutions that you can adopt in your organization.
5 BPM solutions that you need to know
1. Internet of Things (IoT)
The Internet of Things affects almost all areas of our lives. Providing companies with a range of advantages and opportunities, the use of IoT technology is quickly growing. Connected devices, sensors, analytics systems, and mobile applications can be employed for various purposes like:
- Inventory and object tracking
- Data collection, transmission, and analysis
- Real-time data visualization
- Location tracking
- Remote equipment monitoring
- Remote patient health management
Therefore, the integration of BPM Internet of Things-based solutions is 100% beneficial.
2. Artificial Intelligence (AI)
Artificial Intelligence technology is one of the most popular business process management solutions. With the help of AI software, it is possible to completely change standardized workflows and manual activities.
You can employ it for conducting sentiment analysis, transforming unstructured data into valuable information, providing 24/7 customer support, instantly answering various questions, offering personalized recommendations, and a lot more. These are one of the best business process management examples.
One of the primary advantages of machine learning—a category of AI—is the ability to accumulate experience in the analysis of work activities. As a result, you will increase the company’s performance and minimize risk. Then, you can use AI to enable predictive analytics, which will let you prevent issues before they arise.
To learn more about business process management with Artificial Intelligence, you can read our article about using AI technology in healthcare.
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 for 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.
4. Virtual Reality (VR)
Today Virtual Reality technology is successfully used in many sectors. Scientists believe it has an equally bright future in the improvement of business process management.
Along with Augmented and Mixed reality, VR opens up opportunities to interact with three-dimensional images in real-time. This kind of a BPM solution can significantly improve learning and visualization processes for people and software users. Furthermore, they can provide the required information in hands-free mode. All this can speed up data sharing and increase productivity.
5. Low-code development platforms
According to Gartner, by 2023, 25% of all new systems, websites, chatbots, web and mobile applications will be created with the help of low-code solutions. A low-code platform is software that allows you to build digital products much faster. Yet not with traditional programming but using a specific graphical interface.
BPM technology is no exception. Why? Low-code helps address various issues associated with software development, configuration, and project maintenance without relying on the IT team. Thanks to low-code, users receive a functional automated workflow that can be adapted to the company’s processes.
When is the right time to use BPM solutions?
Many business owners have already heard of business process management solutions. At the same time, not all of them understand when and how their company should use it.
Let's consider a few real problems that you can address with the help of BPM software:
- The implementation of business processes takes a lot of time.
Solution: The system records each task of each process and automatically receives timely reminders of the approach of the boundary date.
- Your company works with several information systems.
Solution: A BPM solution is easy to integrate. This means that the principle of a one-time input of information is being implemented. Therefore, labor costs are reduced and information integrity is guaranteed.
- A lot of employees, departments, and structural units are involved in one business process.
Solution: The system automatically transfers the necessary data and assigns the required tasks to the right employee at the specified time.
- Your business is completely dependent on repetitive processes.
Solution: In this case, BPM technologies can become an integral part of your business strategy providing an effective tool for automating and modernizing workflows.
Does your firm face any of the challenges above? Then it is time to consider the integration of business process management software. The first step is to find a trusted software development partner and ask for a consultation.
For searching and comparing companies of BPM software developers, you can use Clutch or Capterra. There you can get acquainted with customer reviews and view the ratings of vendors.
Business process management software is quickly gaining high popularity taking into account all tech innovations. BPM solutions offer a number of advantages providing organizations with indispensable tools for rapid development and growth.
A company that will prosper in the future is one that is ready for the upcoming changes. Business process management technology always gives you a competitive edge.