Business process management (BPM) software helps optimize, automate, and report on processes that are vital for accomplishing business goals. This system is often used for defining, tracking, altering, and monitoring the full scope of a company’s operations throughout multiple software tools that seamlessly work together.
However, a rapid digital evolution imposes a couple of changes in the dated BPM concept. For instance, the intelligent bpm software platform now enables users to take advantage of Dynamic Case Management that supports more flexible and successful case outcomes and data-backed decisions.
Unfortunately, that’s not the case for many other BPM vendors. Considering that there are a lot of BPM options out there, let’s review the 2018 business process management industry trends and must-have BPM suite features to keep a business relevant in the highly-competitive market.
Note: If you are interested in learning more about bpm software benefits, you can take advantage of a free trial here.
2018 BPM Industry Trends
According to the 2018 Business Process Management Global Market Analysis, the worldwide BPM industry is expected to reach $17.96 billion by 2022, with an impressive growth at a CAGR of 18.4% during the forecast period of 2014 to 2022. In other words, business process management software is more important than ever and practically a standard for organizations in their daily operations.
This is precisely the reason why BPM systems must implement continuous innovations that will allow users to conduct more dynamic process procedures. Flexibility and agility of the software are must-have requirements for meeting the needs of your customers, and this year will mark the new wave of productivity with three crucial BPM trends to watch.
BPM and Case Management Union
The number one trend that will accelerate the BPM growth across borders and in multiple organizations is the BPM and case management union. Before this useful feature, utilization of business process management systems was mostly driven by implementations in financial services, banking, and insurance.
While these departments are still of great value for BPM suppliers, other unrelated service companies will also have the pleasure of exploiting all of the BMP benefits. This employment of digital transformation will touch and alter various industry sectors, including:
- Health care services
- Education services
- Tech and software services
- Retail and manufacturing services
- Business services
- Construction services
Customer experience with the product or services is slowly becoming the key brand differentiator. Since we live in a digital age, people can easily go online to read user reviews, share experiences, and compare the level of service businesses provide. Nowadays, customers have very high expectations regarding websites and mobile apps and a low tolerance for delays and prolonged customer service resolutions.
The good news is that BPM software has finally become a customer-centric tool, because it’s not enough to ensure only operational excellence. In 2018, the best BPM solutions will be able to deliver an efficient optimization of internal business processes for a more custom-tailored and better customer experience.
Centralized Shared Service
Another trend that will rule this year is a reduction of operational costs. For many companies that still struggle with duplicated processes known to drain the company’s pockets, new BPM practices will come in handy. So, what can enterprises expect and look for in a modern BPM suite?
The current inefficient streamlined processes will shift to a centralized shared service that will enable greater cost savings and a better compliance. Duplicated processes will become the thing of the past, as more organizations start to embrace this empowering transition.
Compatible Business Process Management Suite
When it comes to business process management solutions, it might be hard to find the right one at first glance. Then again, the massive data increase today compels businesses to adopt digital technologies as soon as possible, which can lead to mistakes such as selecting the platform that might not agree with the company’s needs or choosing a system that’s difficult to work with.
As mentioned earlier, BPM suites require innovations for keeping up the pace with overwhelming customer demands, big data, and a market competition. And only the BPM suite that is equipped to follow the current expectations can truly support progressive business development, regardless of what industry we are talking about.
At this time, there are several BPM platforms that provide this level of service. Here are our top BPM picks based on a review of features, benefits, and industry trends:
- bpm’online: The first place reward definitely goes to bpm software that supports real-time collaboration, advanced analytics, process tracking and monitoring, social media integration, mobile and cloud access to processes, and more. According to Gartner, bpm’online meets all the BPM criteria and is able to help businesses develop and accurately execute their vision.
- Appian: Like a bpm system, Appian is also a low-code development process management platform with both process and case-centric applications. This platform enables ongoing process improvements through a dynamic and customizable process management from beginning to end.
- Pegasystems: Pega 7 BPM is recognized as a comprehensive BPM suite that supports adequate business transformation for 2018 and beyond. This specific platform is an efficient union of BPM and Robotic Process Automation (RPA) able to streamline operations, reduce costs, improve business agility, support collaboration, and enable all necessary process alterations for enhanced productivity and market growth.
With these three intelligent BPMS product and services, you can never go wrong. Depending on your business requirements, these BPM platforms are the best choice for nurturing customers and keeping an eye on the complete scope of your business operations, including employee and business performance.
Trends come and go, but having an intuitive, intelligent, and a user-friendly BPM suite that can align the business strategy with market goals is a timeless necessity. Due to rapid technological advancements, businesses always have to search for new, improved solutions in order to stay relevant and thriving. This involves optimized BPM systems that are able to support data-driven decisions and low operational costs.
After reviewing the industry expectations for 2018 and comparing the benefits of available BPM software tools, we were able to come up with the three most reliable BPMS. Use this article as a reference and be sure to identify the particular requirements of your business before shopping for BPM software, so that you can find the best fit for your organization.