June 11th, 2018 • BPM
Steering a company through constant technological breakthroughs and updates is no easy job.
Imagine a world where you had access to technology designed specifically to help your organization run efficiently, firing on all productive cylinders. Now imagine that you decided to not take advantage of this tech, which is so readily available.
The thing is, this world isn’t imaginary–it’s the one you live (and work) in! And if you’re at the helm of an organization today, to miss out on BPM (Business Process Management) tech would be like setting the Titanic on a course straight towards iceberg-filled seas!
The total value of the BPM market is expected to cross the $13 billion mark by 2021–that’s a reasonable prediction because of how successful BPM tech is proving already. 86% of companies have shown some commitment to BPM since 2016, and that number will continue to grow.
BPM technology uses the power of computers and rule-based engines to give executives an overall view of how their processes are functioning.
As more and more businesses embrace digitization, BPM becomes more and more central.
What is digital transformation?
It is the shift from a dependence on undocumented, paper-based, or dated legacy systems that don’t share data, to taking advantage of digital, social, and mobile technology. Digital transformation includes:
It’s easy to see why BPM fits right into digital transformation.
Innovation and constant breakthroughs in the worlds of business and IT mean that the status quo of running a business is constantly shifting. BPM itself has shifted from a one-time initiative to a constant process.
As is clear from these descriptions, BPM is at the very center of digital transformation. It can help your business step into the digital age, the right way.
Gartner predicts global IT expenditure to hit $3.7 trillion in 2018.
Digital transformation is more than buying some fancy tech, building a ‘digital transformation’ platform, and being done with it. It’s something that needs to be embraced by organizations at a root level. Businesses need their leadership to drive them towards digital transformation, harnessing the power of BPM technology.
63% of companies admit to running business projects on dated and unfit technology like MS Word, Powerpoint, and Excel. It’s up to those at the helm, like directors, VPs and CxOs, to keep companies thriving in the age of digital transformation.
Digital breakthroughs are a double-edged sword. At one end is tech that can help you drive your business successfully into the future, and at the other is the risk of being left behind as tech advances drive your competition forward and out of sight.
If you’re in charge, the path you choose determines the destination of your organization.