What is business process management (BPM)?
Business process management (BPM) leverages the software and services to provide total visibility into your organization’s business processes. BPM helps you automate, monitor, and optimize continuously improved business processes to increase efficiency and reduce costs.
To begin your BPM journey, you must be focused on delivering business value. Success breeds success, so take an incremental approach that allows you to quickly prove value with a single project, build competency and skills, and only then extend your journey across the enterprise.
Why is BPM important for my business?
Business process management is critical to the way that nearly all organizations operate. That’s because the business processes lay the foundation for back-office and front-office business functions from managing the invoices and records to quickly opening customer accounts and offering real-time promotional offers to prospects. At the end of the day, business processes allow all the different parts of an organization to efficiently and effectively work together towards their common goal of serving customers better.
In the past, most organizations used BPM to achieve cost savings and productivity gains. But more recently, BPM has evolved to focus more on better-serving the customers. This emphasis on creating exceptional customer experiences have motivated companies seeking to remain competitive to adopt BPM practices and acquire BPM software.
Top 10 IBM BPM Industry Trends
Listed below are the top 10 Business Process Management trends which highlight both strategy and the hottest technologies that aren’t yet widely implemented in BPM initiatives but that will have a greater impact and significant potential for the disruption in 2018.
Trend No. 1: Artificial Intelligence (AI) (at any stage of the BPM life cycle)
Trend No. 2: Internet of Things (IoT) requires an automatic activation of processes or tasks that respond to the information of a sensor on an object…
Trend No. 3: Robotic Process Automation (RPA) to automate repetitive and rules-driven business processes that do not require human intervention
Trend No. 4: Targeted Virtual Assistants for new intelligent conversational interface based on natural-language
Trend No. 5: Near Real-time Event Processing Support
Trend No. 6: Adaptive Case Management (ACM) for unstructured and unpredictable processes
Trend No. 7: The Process Mining Will Begin to Stand Out in the Business World
Trend No. 8: The Increased Demand of Low-Code BPM Platform Due to the digital Transformation
Trend No. 9: Immersive User Experience Requires Virtual Reality / Augmented Reality / Mixed Reality
Trend No. 10: Augmented, Predictive and Prescriptive Analytics Plugged Into a Process to Drive Autonomous Action
IBM BPM Development and Market Share Globally
In today’s demanding business environment, companies are focusing more on reducing costs while improving quality to stay competitive. Therefore, companies and IT managers are looking to strategically outsource the arrangements for their software development and maintenance of both the enterprise applications and legacy systems. By tactically leveraging an IT service provider’s extensive skill sets and proven experience, companies can gain access to more cost-effective operations, while improving the overall quality of their business.
The business process management (BPM) market was valued at USD 3.38 billion in 2019 and is expected to reach a value of USD 4.78 billion by 2025 at a CAGR of 6.26% over the forecast period (2020-2025). One of the prominent trends in the market studied, that aids in the growth of the BPM market is the increasing integration of automation and the Internet of Things, with BPM.
- In recent years, business process management (BPM) has received considerable attention, due to its potential to significantly increase productivity and cut down costs. Modern-day BPM systems are abundantly available, by different organizations. These are generic software systems that are driven by the specific process designs that enact and manage the operational business processes.
- According to a Capgemini report, around 68% of organizations indicated that business process management is an important agenda at the managerial level, and around 56% of organizations anticipated that they would increase their investment in efficiency, over the next one year.
- As the demand for business process management is directly related to the demand for process automation in different sectors, the higher the demand for process automation around the globe, the higher is the demand for the business process management solutions.
- The major challenge for the business would be the lack of adequate understanding concerning the various businesses.
GoLogica is offering an instructor-led IBM BPM Online Training. IBM Business Process Manager is a wide stage offering supervision and finishes consciousness of the business forms that servers rapidly and effortlessly from unique errand to big business-wide program.
The Average IBM BPM Developer salary is $81,454 PA.
IBM BPM Training will enable you to clear the certification with ease and once you get certified you can land in your dream job or make yourself a potential candidate for promotions in your organization.
If you wish to learn IBM BPM and build an amazing, then don’t forget to check our latest IBM BPM Training Course Program which comes with premium quality video training and 24×7 online support.