We all know business processes are the key to the way most companies operate. This is because they are the framework that are followed in order to achieve all kinds of business functions, and they enable the different parts of the organization to work in unison to interact with supplier and customers. Business Process Management (BPM) is the practice of aligning business goals and processes as companies and organizations evolve.
Business Process Management Software Suites
BPM software or BPM suites (BPMS) help organizations define the steps required to carry out a business task, mapping these definitions to existing processes, and then streamlining or improving these processes so that the steps taken to complete them are more efficient.
The focus of BPM in the past was to achieve cost savings, add efficiencies and increase business value, however, in the last year or so that’s changed. According to Rob Koplowitz, a principal analyst at Forrester Research, “BPM priorities have overwhelmingly shifted to customers,” he says in the report BPM Platforms for Digital Automation. “Organizations considering BPM initiatives are doing so to serve customers, not cut costs. Increasingly, BPM and process change are focusing on facilitating cross-channel collaboration among employees, customers, partners, and ‘things,'” he says.
The BPM software market is broad, with many big players involved like IBM, Oracle, SAP and Software AG. Forrester Research groups the BPM market participants into three categories:
Enterprise stack providers
Application platform vendors
Specialist for specific market niches
Many BPM software vendors are now investing in technologies that allow for the rapid development of customer-facing applications. The most important technologies to achieve this are low-code development tools, often used by developers or BPM professionals. Easy-to-use user interface technologies also make it more simple for customers, rather than trained employees, to interact in multiple ways with internal software systems.
Artificial Intelligence (AI) is another capability BPM vendors are beginning to invest in. AI elements present themselves in new interfaces such as voice and chat, cognitive expertise sources to support processes, and machine learning to drive optimization.
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