BPM has been stereotyped into meaning automation, which is not wrong in essence but like all stereotypes, it hides the overarching impact and degree of innovation that BPM is capable of. BPM projects are also often undertaken to automate routine activities and implemented at the activity or task level. What this leads to is uncreative and rote solutions and no effort being put into re-thinking the underlying tasks.
Top 4 trends that will re-think and reimagine BPM in 2016:
1. Extreme Collaboration: One of the major challenges facing CIOs and business managers is enabling cross functional collaboration and communication across the enterprise. BPM projects constantly fail to improve business performance outcomes because they fall flat on this vital parameter. According to a leading industry analyst firm, “Business leaders can avoid this failure by embracing extreme collaboration (XC), a new operating model and an extreme style of collaboration. XC is enabled by combing four nexus forces into a pattern that can dramatically innovate the way people behave, communicate, work together and maintain relationships often across wide organizational and geographic boundaries to collectively deliver breakthrough process performance.” We all know how critical collaboration is in operational business processes. XC is basically a virtual hub where people across geographical, political and organizational divides can collaborate and work together to solve shared problems and meet shared goals. It is a 24/7 active environment that enables people to pool their resources and move toward the fulfillment of a broader goal.
2. Combine real-time analytics with BPM: In 2016, if BPM is able to do one thing and one thing alone. This would be it. To remain on the priority of business leaders, BPM need to merge processes with real-time intelligence. According to analyst reports, “Seventy percent of high-performing companies will manage their business processes using real-time predictive analytics or extreme collaboration by 2016.”
Converging process and real-time analytics will set in motion a perpetuating cycle of enterprise process improvement. A BPM suite can combine its sophisticated tool set with real-time data to streamline and optimize business processes. It can also identify existing processes inefficiencies and help rectify them. Analytics can help drive process flow by automatically initiating performance-based events and dynamically managing the flow of enterprise processes. This will build a platform that can interpret and adapt processes to meet the challenges of our ever-evolving business landscape.
3. Intelligent Business Operations: Analysts say that one of the more effective techniques to improve business processes is intelligent business operations (IBO). What is IBO? It means operations where processes are ‘aware’ of and can ‘learn’ and ‘understand’ context based on a wide range of work interactions, and adapt to the situations around them. Once these processes sense a situation, they can apply real time analytics to predict the outcomes of potential alterations.
The integration of smart processes with analytics has a direct impact on the way that people go about doing their jobs. It helps to make business operations more transparent and also keeps a tab on changes in the external environment. This makes managers and executives more situationally aware, proactive, and enables them to make better and faster decisions. As a result, organizations perform and deliver better in terms of customer service, revenue growth, cost reduction and risk avoidance.
4. Focus Less on Cost Cutting and Driving Efficiency: Let’s get this clear, cutting costs and driving efficiency are like the USPs that BPM is sold on. But sometimes this advantage becomes the reason why so many BPM projects never fulfill their potential. By focusing too much on cost cutting through efficiency, companies tend to put an upper limit on the value a project can deliver. At the end of the day there is only so much efficiency that can be squeezed out of one organization. It is important to embrace effectiveness but the real focus should always be on delivering long-term value.
Author: Virender Jeet, Vice President at Newgen Software