Business process management (BPM) has been referred to as a “holistic management” approach to aligning an organization”s business processes with the wants and needs of clients. It promotes business effectiveness and efficiency while striving for innovation, flexibility, and integration with technology. BPM attempts to improve processes continuously. It can therefore be described as a “process optimization process.”
At its heart, business process management is about continuously optimizing business processes. This continuous optimization means working to improve business processes throughout the process life cycle. The process life cycle spans three steps. The first step is model and simulate, where business process improvements are documented, and tested before deployment. The second step is to deploy, execute, and change, where new or improved processes are deployed in an automated, repeatable fashion with flexibility for rapid change. The last step is model, analyze, predict, and act where deployed processes are closely monitored and measured in real-time to enable rapid response to emerging business situations in addition to identifying new process improvement opportunities.
Business Process Management provides a way for business and IT to collaborate and continuously optimize business processes across the process life cycle supported by robust governance and compliance. It is a discipline consisting of software and expertise to improve the performance, visibility, and agility of business processes and facilitate business innovation.
More organizations are adopting BPM as a discipline and scaling up their efforts to establish BPM as an enterprise program, not just to apply its methods and technologies to one-off projects. Thus a market – leading BPMS must support BPM throughout the business process improvement life cycle.
A number of BPMS vendors that have evolved from a BPM pure play heritage continue to lead the market in capabilities and vision, but large middleware and software infrastructure vendors have greatly expanded their market presence.
IBM is the market leader in BPM with a suite of products that improve every year. IBM is able to online casino invest in the product set, improving it as the customer base grows ever larger, spreading the cost of software implementation across the large customer base.
IBM is providing a BPM best practice solution that is the de-facto industry standard. The software that comprises IBM BPM foundation has been carefully selected from the IBM software portfolio to support each stage of the BPM life cycle, which includes four stages: IBM software portfolio”s ability to support each stage of the BPM life cycle — model, assemble, deploy, and manage — is built out with component software that matches the defined stages.
Some other which are also considered to be the market leader in BPM market, these names are; Pegasystems, Progress [Savvion], Appian and Adobe. They are closest to delivering automated, model-driven, round trip behavior, where changes made to the model are immediately executed, thus blurring the distinction between design and runtime. Many leaders exhibit strong innovation in their products, business models and consulting and educational services.
Business process management promises to drive enterprise markets going forward by implementing automated process more efficiently. Automation of business process must be balanced with human exception management, which is managed by workflow. Business processes are enhanced by the ability to interconnect a range of different applications systems including general ledger, order entry, inventory, process control, and human resources.
BPM is emerging as a layer above integration infrastructure that guides process automation once integration has been put in place. Growth comes from the value provided by automated process. Automated process is at the heart of every enterprise.
BPM markets at $ 2.3 billion in 2010 are anticipated to reach $ 5.5 billion by 2017. Market growth is a result of demand for automated business process that permits flexibility in response to changing business conditions. New systems are appropriate for the line of business to use to launch functionality in a cloud in a manner that is self-provisioned. Hybrid computing systems are positioned to support cloud computing. BPM provides this as application middleware that permits IT to manage change.
BPM promises to do more to eliminate manual process and give us control over exception management so that human intervention happens in an intelligent, efficient manner when it is needed. BPM has significant growth prospects for many years to come as markets are not anywhere near saturated.
BPM software lets a user move from defining a problem, creating a model that describes the solution, assembling code components to address the solution, deploying the solution, and managing the results as the solution is implemented over time. In this manner software represents a complete middleware solution to rapidly respond to changing market conditions.
Business process management software is achieving resurgence as enterprises realize that automation of process is a key to market growth. Innovation depends on process automation. Software is critical to enabling solutions. Software is a strategic business asset used in every industry at every level. Software is necessary to provide automated process.