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Businesses continue to evolve, and the processes and management flow of businesses have evolved as well. Add technology innovation, and the evolution of business practices are futuristic. This is where business process management or BPM fits into all this.
BPM was once only for global corporations with large budgets and high profits. That’s because BPM technology wasn’t quite innovative enough for mainstream affordability. But now it is, and by 2020, it will be affordable and available to nearly every business, regardless of size, revenue, or employee count.
This is a good thing because BPM is a business process transformation some businesses absolutely need. By 2020 and beyond, almost all businesses will need BPM, simply due to the digital landscape businesses operate in daily. BPM truly fits into what many call “digital transformation.”
We are halfway through 2019. And BPM will advance even more in the next six months or so. So why should BPM be part of your 2020 business plan? The following are a few high-level reasons to definitely consider. Let dive in!
Flexibility is essential for business scalability
If your business processes are simply not meeting expectations or scaling with your business, growth could be stunted. And this is very bad in the fast-paced business world we live in today. To ensure your digital transformation is the top priority, you can employ BPM to keep your business processes and workflows flexible as your scale.
What do you mean by flexibility exactly? Flexibility is the ability for users to implement software and tools across the entire business to change workflows for maximum effectiveness.
This is BPM’s bread and butter, and having one in place ensures seamless scalability across the board. The flexibility of business process management tools will only get better in 2020 and beyond. If you have yet to use BPM, next year maybe the moment your business has been waiting for.
Bringing the collaborative workforce together is the top priority
Businesses are not in one singular place anymore. They are often spread out across the world. They are all teams of experts in their craft that have the ability to be anywhere and connect with other teams in the business at any time. However, ensuring collaborative workforces are efficient and 100 percent effective can be tricky.
But with business process management, the challenging aspects of having an effective collaborative workforce dissipate quickly. BPM will automate processes and workflow, deliver tasks, and manage everything under the sun for contractors and freelancers in the collaborative workforce.
Tracking analytics will continue to be critical to BPM success in 2020
The amount of data of business process management brings along with it needs to be tracked and measured continuously. This is what BPM developers will be working diligently on this year and next in order to have full analytical capabilities for businesses using BPM.
Why is this important? When businesses get real-time data flowing in 24/7, they can utilize those analytics to make fast business decisions, control costs, and optimize as needed. For instance, real-time analytics can identify and prevent fraud, evaluate business risks, find money laundering issues, and more.
It is almost like innovative insurance for your business, and in 2020, analytics and the ability to get data and measure it quickly will be a top priority in 2020 for BPM developers.
BPM goes mobile to keep your business connected with customers 24/7
In today’s digital era, being mobile at all times is vital. And we are not talking about being on the go, but more the mobile, smartphone aspect of a business. Did you know that 81 percent of Americans own a smartphone? This means that you have a direct line to your customers if they fall into the 81 percent of smartphone owners.
Business process management tools can help you do just that. BPM capabilities that are mobile in nature help businesses reach and cater to customers on the go. It’s also a great way to empower your team to access secure information and data from anywhere in the world, and at any time. This alone can increase the efficiency of your business.
In conclusion . . .
Implementing BPM into your business processes and workflow can be pretty easy. Knowing the ways it works for your business is also important. For example, there are a few main approaches for making the most of BPM for your business; Horizontal, Vertical, and Full Service.
These approaches should be examined to ensure BPM is right for your business. Once you find what you need, implement and step into the future of business process management, BPM, for 2020 and beyond.