As organizations undergo their digital transformation initiatives, rethinking their business models and processes to address ever-growing customer expectations, the software market is going through a shift toward a massive usage of business process management (BPM) suites.
Overall, the BPM market size is estimated to grow from $6.96 billion in 2016 to $13.52 billion by 2021, largely driven by the need to improve enterprise efficiency and visibility, adhere to increasing government compliance, and increase profitability.
In this article, Katherine Kostereva, CEO and Managing Partner at bpm’online, explains why organizations need BPM technology to accelerate their digital transformation and offers best practices on BPM deployments.
Katherine Kostereva about key benefits BPM has to offer
“What we see today is BPM has reasserted its dominance as an important technology for driving automation, collaboration, and engagement. Today’s competitive business environment forces BPM practitioners to shift gears to accelerate digital business transformation, instead of remaining focused on multiyear business process transformation programs,” remarks Katherine Kostereva.
To support digital transformation, organizations need a robust technology that enables businesses to quickly build customized processes that can accommodate their unique business needs.
BPM selection done right
“BPM tools have to be assessed based on their features and capabilities, as well as their strengths and weaknesses. Much of the decision depends on organizations’ drivers and expectations. For example, businesses that operate in a dynamic and fast-paced environment will require an agile software that allows for optimizing processes on the fly,” reasons Katherine Kostereva.
At the same time, regardless of the industry your organization operates in, there are questions to ask and parameters to consider to help improve the decision-making process.
Top 5 questions Katherine Kostereva recommends to ask when choosing a BPM system:
- How does the product support designing and implementing process flows and business logic? Does the solution support process design standards such as BPMN to make it easier for business users without technical skills to design and implement process flows?
- What does the product offer to accelerate user adoption?
- What integration capabilities are available to enable process orchestration between applications and accelerate implementation?
- What deployment options are available?
- How did the product evolve over the last few years? What is vendor’s product strategy and future enhancements planned for its products?
What are the keys to successfully implementing BPM?
Thoughtful selection and well-executed implementation are critical to ensuring that your BPM meets your organization’s specific needs. If not implemented correctly, a BPM system may feel more like an expensive mistake than a useful tool.
Keys to a successful BPM implementation
- The project involves all divisions of the organization, including top management.
- Speed of deployment and speed of making changes to the system.
- Rapid delivery of new features that enable businesses to adapt to ever-changing business conditions.
- Choosing the right strategy for process automation and optimization—all the efforts related to the process of digital transformation should be aimed at key business processes that have the biggest impact on a business.
Katherine Kostereva, CEO and Managing Partner at bpm’online