Business process automation is an upward trend in companies, as it brings many benefits. According to the data presented in the document prepared by KPMG “Easing the pressure points: The State of Intelligent Automation”, 47% of Spanish companies have invested on average more than 8 million euros (about 10 million dollars) in Intelligent Automation (AI) projects. Worldwide, 52% of the companies consulted have invested more than 10 million dollars and 30% more than 50 million.
Organizations are slowly realizing that process automation brings many benefits. Many companies take advantage of these advantages by implementing a Business Process Management system, through a technological software tool. In fact, according to the Business Process Management – Global Market Outlook report (2017-2026), the Business Process Management market is expected to have a compound annual growth rate of 15.5% in the next few years and reach $26.76 billion in 2026.
What is Business Process Management (BPM)?
This is a way of supervising and controlling the processes that are present in a company. It is a methodology that, nowadays, companies increasingly use to make processes efficient and effective and thus improve organization and profitability.
The BPM business process management methodology seeks to identify, analyze, redesign, execute, monitor, control and measure the business processes that a company is implementing to meet the company’s objectives.
Although BPM is not a software technology, one of the most effective ways to implement this methodology in an organization is through BPM software. Thus, companies that want to improve the efficiency and effectiveness of their business processes would have to rely on such software.
The BPM business process management methodology seeks to identify, analyze, redesign, execute, monitor, control and measure the business processes
Why is it important to have a BPM software?
BPM software is a process automation tool that helps companies locate bottlenecks in common processes that restrict business flow. In addition, it is an essential ally to control the costs of the organization, make the day-to-day processes as efficient as possible and ensure the effectiveness of the people involved in the processes.
BPM software provides companies with the following benefits:
- Improves efficiency. Companies that use such software allow work teams to perform their functions more smoothly and efficiently.
- Increases competitiveness. This type of software allows processes to be streamlined and, therefore, response times to be reduced. In this way, the customer is served faster than the competition and their satisfaction increases.
- Increases productivity. It is estimated that the use of such a technology solution increases the productivity of the company by between 60% and 85%. If the employees of a company are clear about the tasks and functions they have to perform, their execution is much faster and easier.
- Reduces economic costs. Thanks to a BPM software organizations are able to cut costs by allowing the proper use of all resources.
- Completely monitors all processes. The implementation of a software of this type in the company allows you to have a global vision of what happens in all processes. In this way, each department manager can receive a complete report prepared automatically to better monitor everything that is running in their area and be able to locate areas for improvement.
- Allows you to make decisions faster. When running process management software, department managers have all the information about processes in real time and can decide which next steps to take in less time.
- Facilitates regulatory compliance. This is one of the great challenges facing companies. Thanks to the use of technological process management solutions, these can identify more quickly and easily when the law is not being complied with to adapt them to current legislation and avoid possible penalties for non-compliance.
Business process management is a methodology that more and more organizations are implementing, as it increases their profitability and offers many advantages.
The most effective and quickest way to apply this methodology in the company is through a BPM software. Through such a program, companies are more efficient, productive and competitive.
Thanks to such software, companies can also manage business processes and control them better so that those responsible for each department can act more quickly in the event of any mismatch that occurs. Make decisions quickly to cut costs from mismanagement and comply with regulations without lamenting fines.