Business Process Management: Its Indispensability with Digital Transformation

In an era when digitalization is at its peak, companies are going through massive changes. According to Flexera, digital transformation is a top priority for 74% of organizations. For the organizations that are already established, we see them grappling with the changing times, and along with this, the industry is witnessing a spur of modern technologies and new companies brimming. To grow, companies require a thread that ties innovations to a seamless process. This thread is Business Process Management. When paired with digitalization, it holds the potential to take your business to the next level. Cloud, AI, and the Internet of Things are the top 3 areas companies are scaling up during digital transformation. (Accenture)

 

A Strong Foundation

While factors like Artificial Intelligence, advanced analytics, and data processing determine the digital landscape of an organization, Business Process Management acts as the torchbearer that leads the way to build a strong foundation for these technologies as they integrate into the system. It charts out a smooth, well-curated, and thoughtful path that ties up the start-to-end process while doing so. Studies have shown that using Business Process Management in the processes of a project increases the success rate by 70%. (Gartner) There is no digital transformation without a top-notch system that leverages these new technologies in a fashion that brings about the most effective impact on the business – be it any industry.

 

From Traditional to Digital

Evolution is universal. With the digital transformation, prominent business guides like AppVista build systems that help a business navigate through multiple digital paradigms of Business Process Management. According to Fortune Business Insights, the Business Process Management market is expected to grow at a CAGR of 12% between the years 2021 to 2028. Almost halfway through this time frame, it is simple enough to say that with the digital influx, the approach of the same has changed tremendously to satiate the change in the market and trends.

Jumping to innovations and digital transformations in a business without an appropriate amount of processing only increases the chances of failure to meet the expectations laid forth for the company.

Amongst its several benefits, let’s take a quick peek into how exactly it helps your business.

 

Aid in Planning

Business Process Management helps in building a sound metric system, documenting and charting plans and procedures. Forrester has claimed that inculcating Business Process Management Initiatives in one’s company can help increase productivity and the possibility of substantial benefits by at least 30 to 50%.

 

Expandability and Scalability

It is all about making the business grow smoothly. BPM brings to the picture tools that help a company elevate. As predicted by Gartner, it is claimed that by the end of this year, 69% of the daily work done by managers will be entirely automated. BPM gives visibility to the ongoings of the company, brings in automation in processes, and also facilitates trying out innovations with easy and quick tools.

 

Increased Flexibility

The automation of daily tasks within the internal workings of a company helps in the optimal use of employees and other resources. Automation and digitization of tools free up the time of the workforce and increase productivity while reducing communication breakdowns. Swiftly adapting to the digital nuances in an organization helps in more effective ways of testing out new ways of working for digital transformation projects. A research study by AI Multiple Research claims that 70% of the studied executives in business believe that BPM projects help them achieve their goals more effectively.

 

Innovative Processes

Business Process Management draws the use of AI and automation to find ways to enhance the workings, redesign, and put new ideas into action while using actual information and real-time data. This helps in making innovations and adaptability to new technologies smooth. 

 

Inter-departmental Co-operation

With the use of platforms that bring all your users and tasks together, one can make a collaborative approach easily. These platforms reflect how your business is really working which in turn helps in breaking down barriers between tools and teams. According to Research Gate, only 67.5% of the total organizations utilizing BPM know how to manage the processes throughout the lifecycle of the software - from designing strategy to implementing the same.

The Gap

Despite these benefits, a survey claims that only 1% of the firms utilize their business process management intricacies efficiently enough to actually realize the financial benefits that can be reaped through initiatives that are digitally transformative. (Research Gate) This could also be due to lack of awareness in terms of the magnanimity of impact that these systems have on business. There is a huge gap here that when addressed, holds the potential to bring about massive transformations for companies and businesses. AppVista aspires to fill this gap by aiding companies to realize this untapped potential and pulling in exponential growth that would also lift up the concerned industry at large.

 

BPM with AppVista

AppVista ensures to serve its clients with a conducive approach that is specifically based on their needs and unique to each business. Once, when approached by a government stakeholder, we were posed with a multi-faceted challenge. They faced issues with organization and efficiency due to the prevalence of many channels of work. Their procedures were not streamlined, resulting in difficulty with managing workflows and inaccurate outcomes. Ultimately, their aim was an integrated approach that would synchronize departments within a shared service center and do this while addressing issues of coordination, complexity, and accuracy.

 

Our Solutions

AppVista tackled the client’s challenges head-on by first taking a comprehensive approach to their needs and struggles. Then, we created and crafted smart algorithms and practical solutions that were unique to their specific requirements.

Our approach involved mapping out departmental flows for easier access to information. We provided expert guidance across various divisions some of which included Finance, IT, and Procurement to streamline processes effectively.

We provided comprehensive services and cutting-edge technology to the client focusing on strategy, design as well as web application development. In strategy and design, we meticulously documented requirements and guided the client through business process consulting, enhancing customer experience, utilizing Miro for user journey mapping, and making intuitive user interface designs. For Web Application Development, we prioritized security, scalability, and performance, leveraging platforms like Liferay and integrating with ServiceNow to deliver robust solutions specifically crafted for their needs.

Our shared service center introduced innovative solutions such as microservices counsel, reducing dependency, and smart synchronization, ensuring smooth workflows and improved efficiency that helped the stakeholder flourish eventually.  

 

The Way Forward

As we see, Business Process Management is an indispensable tool for companies that are looking forward to succeeding in the fast-paced era of transformation that is currently taking place in the global paradigm.

Robotic Process Automation, increasing use of Blockchain in businesses and Big Data Analytics are going to be the way forward when it comes to implementing Business Process Management in businesses on a larger scale. While RPA uses an automated system that ditches the need to do repetitive tasks by the workforce, leaving space for strategic investment in the company, Blockchain with its decentralized system allows for automated secure transactions without the use of intermediaries.

Big Data Analytics improves decision-making in an organization while optimizing each business process that comes along the way. The way one sees and operates with businesses is changing rapidly. The more one embraces the change, the companies can gain a more nuanced understanding of their customers leading to improved efficiency, both in terms of increased customer satisfaction and exponentially growing productivity within their organization. There is no such thing as luck and when it comes to building a transformative business that sustains in the long run with changing trends, it is only those businesses that leverage Business Process Management through digital transformation that would see the light of the day.

 

AppVista’s contribution to the field of Business Process Management is more than just going by the traditional approach. We believe in building our foundations on traditions but stopping at nothing when it comes to bringing transformation to your business! Our contribution to the industry on a global level has impacted several government stakeholders and companies positively to build a future that is fruitful for them as well as their customers.

We believe in building skyscrapers of growth for your business with foundational roots so strong that your business is bound to gracefully rise up in the skies – one brick at a time!