5 Trends of Business Process Management (BPM)
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BPM has become a must in all large corporations. With complex series of actions and different assignees and assigners, it is quintessential to have a strong BPM setup. There are many repetitive processes in various organizations that happen routinely. The optimization of these processes gives a competitive advantage to those companies that automate them and allows its employees to work more efficiently and thus helps boost productivity, as they are going to save time and reduce costs.
Business Process Management(BPM)Trends As the business environment changes, the BPM industry needs to change as well and follow the trends that currently exist in the market.
1.Low-Code App Development
Companies have started building their own applications. Even if the platform that they have chosen has extreme functionality, decision makers tend to select platforms that allows them build
applications with fewer efforts. Additionally, there are companies that do not employ developers in their departments, thus it is very hard for them to use a BPM platform that is functional but needs lots of efforts of coding.
BPM platforms need to integrate all the collaboration functionalities that are necessary for an organization to operate
2. Robotic Process Automation(RPA)
These are vital for the operations of a company. These tools give the opportunity to connect internal processes with external ones. The most important feature of RPA is that complex coding is eliminated, and manual processes are not held anymore. Processes are orchestrated, and automated easier as human interaction and system activities are combined.
3. Smart Contracts
This helps develop another trend in the BPM industry. Processes that are powered by smart contracts can be executed faster as the conditions needed in a workflow are performed automatically. Having said that, human interaction is not needed and as a result, automatically the volume of the workload on employees is decreased.
4. Artificial Intelligence
This makes BPM platforms smarter, as it continuously evaluates data in order to make better estimations and provide greater forecasting indicators. These indicators would assist the decision makers in a company to achieve better corporate performance. Additionally, this datadriven process enables proactive behaviors that are based on better knowledge of industries/products/competitors.
5. Extended Collaboration
It increases productivity and makes workflows run faster. BPM platforms need to integrate all the collaboration functionalities that are necessary for an organization to operate. Some of them are content and file sharing, internal communication, personnel management, issue management. The better the employees collaborate, the more value they create. This value can be translated in terms of cost reduction, higher productivity and customer satisfaction.