Digital Transformation is taking the world by storm. Enterprises all across the globe are transforming to keep pace with the digital age and increasing demands of their customers. One of the most important requirements for digital transformation is in implementing Business Process Management systems. Business Process Management brings together the different functional areas in alignment to improve efficiency and achieve business goals.
As businesses around the world are struggling against recession and the global economic crisis, the importance of using BPM has increased exponentially. The number of enterprises using BPM solutions is on the rise and BPM is one of the fastest growing verticals in IT. From recent statistics, BPM is having an impact on various enterprises around the world showing about 15% – 20% growth every year.
Transferring to BPM brings many vital changes to an enterprise to make it more efficient and more aligned towards it goals. Some of the major advantages of switching to BPM in an enterprise are:
Reduction in Cost of Operations:
With BPM, handling operations becomes much more centralized and requires little to no manual work for processing. Being much more centralized removes unnecessary location costs for large enterprises. BPM also allows many of operational processes to be automated reducing the cost of human resource.
As BPM streamlines the work flow within an organization, it reduces the time it takes for the product to reach the market. It also increases you market share and wallet share by increasing the number of business channels.
Many managed processes of an organization are automated with BPM. These solutions provide real time visibility to let you know what your workforce is doing at a given time span. It is also easier to manage and track KPIs of your workforce.
Compliance Made Easy:
With automated BPM, compliance checks are completely automated. This ensures that your product is approved for compliance for all the different political locations your organization caters to. While BPM removes the risk of compliance penalties, it also reduces the cost of compliance programs.
BPM solutions are used in various industrial sectors to improve their productivity and efficiency. BPM has also allowed many traditional industries to be revolutionized on many fronts. Some the industrial sectors that have benefited the most out of BPM are:
- Financial Services & Banking
- Energy & Utility
- Public Sector and Government
The BPM Life-Cycle:
The process of implementing BPM is highly complex and needs a certain degree of expertise to implement it successfully. Generally, the process of implementing BPM is called the BPM lifecycle. The lifecycle takes place in 6 different steps including Design, Modeling, Execution, Monitoring, Optimization, and Re-Engineering.
It is the task of the BPM service provider to implement BPM successfully in every step of the lifecycle. The service provider first gets into a discussion with the organization to identify business transformation goals. The implementations of BPM should be measured at every stage and necessary optimizations made to achieve maximum efficiency. It is also the responsibility of the service provider to leverage all the different available technologies to provide the enterprise with the right BPM solution that they require.
Role of the BPM Service Provider:
When the role of the service provider becomes so important, it is pivotal for the enterprise to partner with the right BPM service provider to achieve the desired results from their digital transformation. A good BPM service provider would have the expertise to leverage different technologies to provide custom BPM solutions. Service providers should also have experience in working with different industrial sectors so they could deliver effective solutions for the enterprise’s requirements.
XCEL Corp is one of the leading BPM service providers in USA. Based in Matawan, New Jersey, XCEL Corp has implemented highly efficient BPM solutions in small businesses, Medium Enterprises, and large multinational corporations. XCEL Corp, partnering with IBM, uses its expertise to leverage the best that technology has to offer to provide BPM solutions that generate increased ROI.
To learn more about BPM solutions and XCEL Corp’s offerings, visit our website today!
Bhavani Suri ( Content Writer)
Our in-house content writer, who develops and creates content marketing strategies. She writes about the latest trends and advances related to IT in particular, and Technology in general.