Business Process Management (BPM) software is a technology solution that enables businesses to design, analyze, execute, monitor and optimize important processes and workflows. It also acts as a valuable automation tool for enterprises to generate a competitive advantage through cost efficiency, improved business agility, and continuous process improvement. We’ve compiled a list of the best reasons to buy a BPM solution in 2020.
Gartner defines BPM as a discipline that uses various methods to discover, model, analyze, measure, improve, and optimize business processes. A business process coordinates the behavior of people, systems, information, and things to produce business outcomes in support of a business strategy. Processes can be structured and repeatable or unstructured and variable. In this case, BPM acts as a key to align IT/OT investments to business strategy.
At a minimum, BPM software must address the four core elements of process-based application development:
- Design – create process-based solutions to help your company operate smoothly.
- Execute – make your processes come to life and fast.
- Manage – keep your applications going to continually meet your goals.
- Optimize – automate everything for consistent and continuous improvement.
Reasons to buy a BPM solution in 2020
In such a dynamic (and growing) marketplace, business leaders are feeling the pressure to remain competitive, while decreasing costs and increasing productivity by improving business processes. In order to defeat these challenges, many organizations are looking to the benefits that BPM software can provide, such as enhanced operational efficiency, improved customer service, and an improved customer experience.
While there are various types of workflow management software, BPM tools are different in that they provide a process platform with capabilities, beyond just workflow. These capabilities enable the suite to cover a fuller business scenario. BPM software helps define, automate, and report on critical business processes that are intended to help optimize businesses to deliver on company goals. These tools can also be used to help automate processes or, in some cases, build digital applications for different steps in the process.
So as the new year approaches and business leaders begin to think about implementing new business management tools, or upgrading / replacing existing ones, here are some of the top reasons to buy a BPM solution in 2020.
It is becoming increasingly important that business processes adapt to new conditions, especially as the business environment stays in a constant state of change. BPM software helps make business processes more agile through a framework that requires rigorous documentation of the steps in a process. This rigor in BPM technology helps provide a clear comprehension of each step in the workflow process.
Detailed knowledge like this can help organizations to understand the impact that change can have on their processes too. An organization that understands the impact modifying its business processes may have on the organization’s profitability, may be better equipped to adapt to the consistent change and quickly deploy the best possible option.
BPM uses complex software programs to automate processes, monitor business performance and reveal the details of how well business processes operate in real-time. Process automation shows how the process is functioning without requiring labor-intensive manual monitoring techniques. This increased transparency can give management a better understanding of the processes they monitor along with giving them the ability to directly modify the structure and flow of processes while tracking the resulting outcomes.
Businesses that implement BPM software may find that they can decrease costs while increasing productivity. Benefits from BPM technology can result from determining how the process would function under optimal conditions, adjusting the process to help it achieve high performance and implementing controls to monitor the process’s future output. BPM software helps enhance productivity by eliminating redundancies and automating manual tasks in order to decrease the potential for errors and rework.
Looking for more? Download our Business Process Management Buyer’s Guide for free to compare the top-24 products available on the market with full page vendor profiles. The guide includes four key capabilities to look for in a BPM platform, plus questions to ask before purchasing. It’s truly the perfect resource for anyone looking to find the right BPM for their business/organization, or those looking to replace an existing one.
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