{"id":2377,"date":"2022-03-02T08:45:56","date_gmt":"2022-03-02T08:45:56","guid":{"rendered":"https:\/\/solutionsreview.com\/business-process-management\/?p=2377"},"modified":"2023-10-02T20:30:46","modified_gmt":"2023-10-02T20:30:46","slug":"business-process-management-statistics-you-should-know","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/business-process-management\/business-process-management-statistics-you-should-know\/","title":{"rendered":"5 Business Process Management Statistics You Should Know"},"content":{"rendered":"

\"Business<\/p>\n

As part of Solutions Review\u2019s Contributed Content Series<\/a>\u2014a collection of articles written by industry thought leaders in maturing software categories\u2014<\/i><\/b>Giota Gavala, a Digital Marketing Executive at Comidor<\/a>, shares some insights on the business process management statistics companies should know.<\/strong><\/em><\/p>\n

Business process management (BPM) is the practice of managing a company’s business processes,<\/span> improving efficiency, defining processes, identifying opportunities for improvement, and optimizing how those processes are executed.<\/span> T<\/span>here are many benefits to implementing a BPM solution in your company. These solutions can<\/span> improve customer service by ensuring that every customer has a similar experience when submitting a support request or contacting your company. It can also help reduce costs by identifying redundant tasks and cutting them out of the process.<\/span>\u00a0<\/span><\/p>\n

If your company is in the process of considering the implementation of a Business Process Management Solution<\/a><\/strong>, keep these five statistics in mind.<\/p>\n

The Business Process Management Statistics You Need to Know<\/strong><\/h2>\n
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1) Only 4% of companies track and manage their processes<\/span><\/b>\u00a0<\/span>\u00a0<\/span><\/h3>\n

Understanding a process is only the first step toward improving it. After all, you can’t identify whether you’re doing things the right way until you continuously measure the outcome of your processes. <\/span>Suppose you don’t have measurement procedures in place, and a mistake occurs in your approach. In that case, it can become a routine that hurts your company processes by allowing your staff to perform tasks incorrectly\u2014as<\/span>\u00a0such, <\/span>documenting your operations is not a one-time task. BPM is a continuous process that requires ongoing attention.<\/span><\/p>\n

2) During the period 2021-2028, the market is expected to increase at a CAGR of 12.0%<\/span><\/b><\/h3>\n

In 2020, the BPM market was worth USD 10.64 billion. <\/span>With the growing need among businesses to streamline business operations to achieve operational excellence, customer satisfaction, flexibility, and productivity in many business areas, the market is growing.<\/span>\u00a0<\/span><\/p>\n

The market is expected to increase at a <\/span>CAGR of 12.0%<\/span><\/a> between 2021-2028, from USD 11.84 billion in 2021 to USD 26.18 billion in 2028. This market’s demand and growth are responsible for the continuous increase in CAGR, which will revert to pre-pandemic levels after the pandemic is ended.<\/span><\/p>\n

3) BPM projects deliver 30-50% productivity gains<\/span><\/b><\/h3>\n

BPM has been adopted by many companies across the globe and has been proven to be one of the most effective methods for improving productivity and reducing waste. <\/span>There are three critical ways in which BPM increases productivity:<\/span>\u00a0<\/span><\/p>\n

Lukasz Tartanus of Procesowcy conducted a study<\/a> of 236 Polish enterprises in 2016 to assess their process maturity. According to the findings of that study, of the 69% of firms that reported having<\/span>\u00a0established procedures, only 4 percent<\/em> monitored and controlled them.<\/span>\u00a0<\/span><\/p>\n