Business process management can be a highly complex and weighty responsibility in the average organization, especially in these times of rapid, massive transformation that have impacted virtually every industry. Leading companies are no longer relying on antiquated methods to handle their BPM frameworks, instead turning to the most advanced and powerful solutions available to automate and optimize the entirety of their operations in one fell swoop.
Earlier this month, Custom Market Research released a study that forecast the BPM market to expand at a breathtaking pace between 2014 and the end of the decade, hitting $10 billion in annual revenues by 2020. Should organizations not already be using advanced BPM systems and software, the time is now to implement the tools, as they can quickly improve the productivity, efficiency and profitability of a business across operations and departments.
A real dilemma
Despite the importance of BPM, not all leaders have truly narrowed in on these systems and refined them to the point of optimization in the past few years. CIO Review recently reported that one study from Gartner revealed nearly nine out of every 10 businesses were not meeting the entirety of their goals, and that issues within BPM might be at the heart of the matter.
According to the news provider, BPM is central to the success of any business, and simply having a sound strategy in place is not going to cut it in the highly competitive marketplaces of the modern era. Rather, the source argued that BPM needs to be extremely flexible and automated to ensure that changes can be made in a timely fashion whenever necessary, and that this will take comprehensive control and management of every process across the organization.
Remember here that the average firm, regardless of industry, has had to contend with the challenges of transformation and market evolution almost constantly throughout the past decade, and there are no signs that shifts are going to slow any time soon. CIO Review stated that BPM strategies should be focused on alignment, agility, innovation, compliance and efficiency to drive modern businesses in the right directions with respect to revenue performances.
The big overhaul
When leaders want to modernize their BPM frameworks, they will have to ensure that they are also aware of the other types of systems and strategies that impact the performance of processes and adjust those at the same time. For example, modernized BPM will not be very useful when a company is still using a paper or antiquated document management system.
Workflows, document and process management all feed off of one another, relying on each other to function at all times. Companies that fear they are not prepared to take on a project to comprehensively overhaul and optimize their BPM, workflow and document management strategies can always rely on the support of a trusted managed service provider during implementation and throughout the lifecycle of relevant solutions.