By Nisha Sharma - August 31, 2022 4 Mins Read
BPM continues to embrace technological innovation as businesses become more flexible and agile in order to meet changing client needs.
With the constant evolution of business process management, enterprises are increasingly embracing BPM by automating processes for strategic operations. The criticality of BPM in the business would be on elevation ahead of the curve by engaging technology in place to enhance business efficiency and future-proof organization. A report on BPM market revenues worldwide 2020 and 2025 by Statista reveals that the BPM market would grow at a compound annual growth rate (CAGR) of 10.5% to reach $14.4 billion by 2025.
More involvement of Business Process Management in routine operations
With the evolving business processes, business process analysis, modeling, and improvements are no longer seen as giant projects. In order to increase productivity, new solutions make it simple for staff members to comprehend and affect business operations. Furthermore, these performance enhancements are less dependent on extensive, comprehensive redesign initiatives because of the current capabilities to constantly monitor process issues. These still have a place, but by monitoring process performance daily, process owners can respond right away to the changes in the process.
Hyper-automation redefines the processes
The market of business process management keeps on evolving. However, the market’s boundaries become narrower over time but BPM is broadening its limits as many companies are adopting the hyper-automation trend on a large scale redefining the whole idea of processes. Earlier, when it comes to processes, it was defined by design, static, and long-lasting rules. But it seems to be redefining the future with adaptive, contextual, and predictive solutions that are creating a holistic business image, and thus opportunities to learn and control organization better.
The shift from process documentation to agile BPM teams
Till now, business process management was more focused on business process documentation and would be the important digital transformation infrastructure for many companies. However, the extension in the BPM team’s control-related capabilities is visible and appreciated by actual implementation capabilities. These capabilities are related to business process automation and the utilization of robotic process automation, data science, and process mining have enabled agile BPM teams to work in quick and short sprints delivering major upgrades to the business unit within certain periods without ending up in the backlog of CIO projects. This trend would run BPM faster and leave a better impression on the business.
Humanized processes in focus
Earlier, BPM was focused on automation and there was a lack of humanized factors but now by employing more contextualization and cross-system data use, BPM users would be open to the execution of innovative organizational concepts. Thus, several new user cases can be experienced like Skills-as-a-Service for talent allocation and training requirements identification. Additionally, the cross-team collaboration would become more clear, making room for improvement obvious.
Also Read: Can Business Process Management and Robotic Process Automation go hand in hand?
The new emphasis on the customer effort score (CES)
Companies would focus on customer delight and would work to make it functional to fulfill the customer needs successfully. Glitzy, dazzling things are meaningless in the eyes of the client if they cannot accomplish the objective at hand. In order to reduce friction and obstacles along the customer journey and increase customer effort scores, leading businesses would increasingly redesign on-stage operations and related backstage processes in 2022.
BPM as a living and tangible reality
Business transformation has been the core topic for enterprises forever. The engagement between people, places, and technology is continuing to blur boundaries as a result of digitalization, and this complexity needs to be handled. In the current industry situation, a revival is being experienced by BPM which is the base for the successful continuous transformation. Business Process Management is now becoming the important bridge between strategy, organization, people, data, and technology. These processes have driven enterprise architecture (E2E²) bringing more business transparency by representing the whole culture. A constant end-to-end orientation across enterprise boundaries by assisting technology bringing facts into processes in real-time letting all participants work faster making better decisions.
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Nisha Sharma- Go beyond facts.Tech Journalist at OnDot Media, Nisha Sharma, helps businesses with her content expertise in technology to enable their business strategy and improve performance.With 3+ years of experience and expertise in content writing, content management, intranets, marketing technologies, and customer experience, Nisha has put her hands on content strategy and social media marketing. She has also worked for the News industry. She has worked for an Art-tech company and has explored the B2B industry as well. Her writings are on business management, business transformation initiatives, and enterprise technology.With her background crossing technology, emergent business trends, and internal and external communications, Nisha focuses on working with OnDot on its publication to bridge leadership, business process, and technology acquisition and adoption.Nisha has done post-graduation in journalism and possesses a sharp eye for journalistic precision as well as strong conversational skills. In order to give her readers the most current and insightful content possible, she incorporates her in-depth industry expertise into every article she writes.
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