Bangalore: Worldwide spending on business process management (BPM) software is set to grow 4.4 percent to reach $2.7 billion in 2015. According to the Gartner, Inc, organizations are beginning their digital transformation and rethinking their business models and processes to address customer and constituent expectations. Shift from process improvement to business transformation is behind the move to Intelligent Business Process Management Suites.
Concerning the BMP, Rob Dunie, Research Director, Gartner says, “Managing business processes effectively is a difficult challenge for today’s business leaders as many of the systems that are used within processes are rigid and difficult to change rapidly. An iBPMS supports business responsiveness, often at the 'moment of truth' in a customer interaction. The ability to provide more ‘joined up’ insight into business processes through the use of analytics and combined with support for the people involved in processes, allowing them to take advantage of this insight is what differentiates today’s iBPMS market from earlier BPMS technology markets.”
Further speaking about the iBPMS, Gartner noted, the iBPMS market is the natural evolution of the earlier BPMS market, adding more emphasis on support for greater system and human intelligence within business processes. However, as with previous evolutions, there are still many other kinds of BPM products that address less comprehensive market needs. When an organization faces relatively slow rates of change, has very low BPM maturity, or is focusing mostly on document-centric process automation, an iBPMS product may be overly complex for the task.
On the other hand, Vendors in the iBPMS market have originated from several different sources, with “infrastructure stack” vendors adding relevant BPM functionality, document and content centric vendors moving into the market by extending content workflows to include system integration and human workflows into processes, and newer innovators focusing more on developing solutions from business-oriented modeling techniques.
In addition, the latest report also stated that, the four significant trends in the iBPMS market is to focus on business transformation, digitalized processes and the IoT, shift away from transactional processes and the Nexus of Forces –Mobile, Social, Cloud and Analytics.