Here's What You Can Expect Out Of Business Process Management in 2018
Grow Your Business, Not Your Inbox
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Over time, businesses have evolved. What has evolved along with them is how their processes are managed. And that's where Business Process Management, often referred to as BPM, comes into the picture.
From something that was only undertaken by massive businesses with a far more massive budget to an affordable option for process management and optimization, BPM has come a long way. BPM is a tool crucial to businesses, as it helps align organizational strategy with business goals. BPM platforms have evolved throughout the years to meet the needs of growing businesses, and to ensure they fit into the ever-changing definition of 'digital transformation'.
As we move into 2018, BPM is expected to evolve in terms of what it encompasses and what it means to businesses. Besides remaining indispensable to businesses, what does BPM have to offer in 2018? We've got a few pointers that could help you chart your way through that answer.
Collaboration is the fuel BPM runs on
Most businesses would make it a priority to work smart along with working hard. This leads to a need to outsource some functions and tasks, in order to be able to utilise their own capabilities to the maximum. When it is a collaborative workforce of the sort that is at the helm of affairs, the usual manual mode of information sharing does not work. This is especially so in case of external partners, and this is where the need for a BPM comes into play.
Considering, there has been a massive shift towards a collaborative workforce, with freelancers and contractors gaining a foothold, BPM will become crucial in 2018. Its ability to automate processes, delegate tasks and manage key documents with efficient simplicity is essential for teams working together.
Analytics will remain indispensable
Any platform brings along with it a mammoth amount of data and any smart organization knows they need to have that factor covered. As the amount of data increases, BPM developers will have to ensure they are equipped with analytical capabilities. Analytics-enabled BPM ensures stakeholders at every level receive rule-based alerts thereby ensuring smoother and faster removal of bottlenecks. Real-time process data analytics can control costs and optimize business processes. Prescriptive analytics can detect fraud, evaluate credit risks, and detect money laundering possibilities, and hence is crucial when it comes to staying safe. All in all, it's no surprise that analytics-enabled BPM is expected to remain important in 2018.
Mobility keeps things moving
Customers nowadays are always connected and businesses have no option but to catch up with the anytime, anywhere trend. The staff alone cannot be expected to meet such demands, and that's where mobile BPM comes into the picture. BPM capabilities when extended to a mobile platform, enables business users to cater to customer demands on-the-go. It empowers enterprise users with anytime-anywhere secure access to critical processes and information on their mobile devices, improving overall response rates and performance. A mobile BPM platform with both online and offline support for image capturing, as well as reporting and dashboard capabilities to track performance, shall be highly sought after this year.
Flexibility isn't just for yogis: A BPM platform which does not mould and evolve according to the needs of an organization can be a major roadblock to one's digital transformation goals. For a BPM implementation to be successful, it needs to grow when the business grows. Flexibility translates to users being able to deploy the software to new departments, change workflows when needed and add more functionality. A BPM essentially ensure workflows remain smooth and error-free, so a BPM platform which can be customized to fit an organization's needs will be a talking point in 2018.
Business Process Management has been and will continue to be crucial to any organization's digital transformation in 2018. Having said that, true to its dynamic nature, BPM platforms which already have, or will in future, incorporate the above features, will stand their ground more staunchly this year.