Why is BPM optimization important for modern enterprises?

Why is BPM optimization important for modern enterprises?

Workflow and business process management have always been important aspects of running operations in any enterprise, but have become a bit more pressing in the age of saturated markets and increased competition. After a couple of years had passed following the Great Recession, the United States economy began to heal a bit more quickly than many expected, marked by a spike in consumer spending and real estate values, as well as dramatic declines in the unemployment rate. 

While this has no doubt been positive in the eyes of most business leaders and consumers, with optimism in various categories increasing substantially along with the increased potential for growth and expansion, there are several challenges this presents to all firms. For one, markets are becoming increasingly saturated and competitive given the enhanced ability to access business loans, attract consumers and more, meaning that companies need to become a bit closer to perfect in their operations. 

So, with this in mind, it should make sense why core responsibilities such as workflow and business process management are a bit more important in today's industries than in the past. Luckily, automation and intelligence solutions are helping enterprises take their BPM and workflow management to new levels of efficiency, accuracy and success, allowing them to focus on other core strategic matters that can separate them from the competition without allowing the wheels to fall off. 

Best practices in focus
Tech Republic recently listed several ways in which companies can leverage BPM automation solutions to maximize returns on such technology investments, affirming that underlying strategies must provide a firm foundation for the tools to stand on. It is worth noting here that average business can benefit significantly from taking a more 360-degree approach to any new deployment, which would consist of viewing people, process and technology management through a centralized and unified lens. 

For the purposes of this particular blog post, process and technology will be a bit more prominent, but leaders can never forget the human aspects of the strategy, which would include training and preparing staff members to use the tools in place. According to the news provider, although many will begin to allow themselves to craft overly complex strategies, the trick in process automation and management is indeed to keep matters as simple as possible. 

Remember, simplicity is key as it will inherently reduce the risk of misuse and other issues, while simultaneously working to drive the efficiency and consistency of process performance across departments. The source also pointed out that manual intervention points, which are generally characterized by any situations or components of the strategy in which employees will have to step in to assist the automation tools, should be as people-oriented as possible. 

Reducing the instances in which these types of procedures would need to take place can also help to drive the efficiency and fluidity of process management. Finally, Tech Republic noted that alerts, failsafes and operating procedures should all be revised upon the deployment of automation tools. 

Room for growth
Now, as companies are pressing for more robust BPM automation and strategic overhauls, it should not be all that surprising that the market for such solutions is expanding so quickly. In fact, WinterGreen Research recently forecast the BPM automation market to expand from $2.6 billion in annual revenues currently to $7 billion in 2018

Companies that have not yet considered leveraging BPM automation solutions thus far should certainly do so soon, as the average competitor is likely doing just that. At the end of the day, being the first to the punch in this regard can play a major role in improving prospects for any organization. 

ACCELERATING Business Processes