Business process management (BPM) has been around for decades – but what exactly does it mean?
According to Gartner, BPM is “a discipline that uses various methods to discover, model, analyze, measure, improve and optimize business processes.”
Unsurprisingly, the most effective business process management methods involve technology that automates and streamlines business processes, resulting in reduced costs, improved employee morale, remote work enablement, and increased productivity. According to Forrester, BPM initiatives result in up to 50% productivity gains for administrative processes and up to 30% for knowledge worker processes.
In order to achieve the above benefits, however, you need to stay on top of what’s new in the ever-evolving world of business process management. Here are 5 BPM trends to watch in 2023.
1. The Democratization of BPM
Historically, business process management has been utilized and driven by IT experts at large corporations, which has been both complex and costly. However, technology is becoming more user-friendly and cost-effective, allowing businesses of all sizes access to automation, key insights, and collaborative functions that weren’t available to them before.
This democratization offers new opportunities for optimizing business processes that do not require the technical expertise of your IT professionals, but rather are led by your internal teams across departments. Look for BPM technology that lets you do more outside of the IT department this year.
2. Improved Intelligent Process Modeling
As we enter 2023, we expect to see business process management technology further evolve process mapping capabilities within organizations. Digitization and automation of manual, paper-based workflows provide a 10,000-foot view and understanding of the business, including insights into bottlenecks and other areas for improvement.
The right BPM tools allow for intelligent modeling that improves compliance and customer satisfaction, boosts profitability, and enhances your entire organization’s efficiency. Look for improved modeling/mapping capabilities to become available in 2023.
3. Continued Focus on Collaboration
Over the past few years, ease of collaboration has been a central theme for many digital business applications – and BPM technology is no exception. The coming year will bring renewed focus on collaborative, cloud-based tools driven by business process management initiatives. More on-premise software will also be migrated to the cloud as remote or hybrid-style work schedules continue to dominate the status quo.
With 58% of respondents in McKinsey’s 2022 American Opportunity Survey reporting the opportunity to work remotely at least some of the time, the demand for tools that enable remote collaboration has never been greater. Keep this in mind as you look to implement business process management solutions in 2023 and beyond. With features from user-restricted document sharing to a centralized repository of data, BPM tools facilitate secure, remote-friendly, collaborate environments.
4. Enhanced Automation & Analytics
Optimizing business processes by streamlining data management and automating repetitive tasks has always been the primary goal of BPM projects. And with improving automation and analytics technology, companies will have a deeper level of insight to identify areas of organizational improvement and truly transform processes.
In 2023, increased business process automation will further reduce manual work, human errors, and non-value-adding tasks. Automation is also increasingly important for maintaining compliance, especially in departments like Human Resources, where streamlining information and processes saves time that can transition directly into compliance efforts.
5. Shift to Low-Code Applications
Gartner predicts that by 2024, 66% of major companies will be employing at least 4 low-code tools. This emphasis on advancing low-code platforms enables organizations to implement automation within weeks – rather than months.
Accessibility and automation will go hand-in-hand with BPM as we look toward the future of technology-assisted business processes.
Finding a Business Process Management Partner
How can your teams act on these BPM trends and take your processes – and organization – to the next level this coming year?
Knowing what you need – and how to implement it – is the first hurdle in implementing a digital solution within your organization. As a trusted partner in business process management, MetaSource provides a suite of solutions to fit your organization’s needs. The right technology will meet the complexities and demands of your organization, and with customizable technology, MetaSource can help streamline business processes that expedite workflows throughout your entire organization.
From workflow automation to RPA to digital mailrooms and other BPM solutions, MetaSource can work with your teams to identify and implement solutions to help you succeed.
Contact our team to learn more about the future of business process management.