Gartner recently released a report that claims traditional ERP systems are struggling to keep up with Digital business. The research firm also predicts that by 2020, more than 20 percent of the world’s largest companies will use platforms other than traditional ERP software to integrate digital capabilities into their business processes. This can be seen as an opportunity for high-performing providers of Business Process Management (BPM), cloud and mobile solutions, which is often bundled with back-office applications such as accounting or human resources automation.
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Business process management (BPM) is a field that studies, designs, automates and optimizes the performance of business processes.
1078 companies from 28 countries have been included in the research. The market has been analyzed for 14 consecutive years starting from 2001. In 2016 it was estimated at USD 3 billion.
The key drivers for the business process management (BPM) services market are an increase in adoption of digital transformation, the need for improving operational efficiency and reducing cost. Moreover, these solutions help companies to improve customer experience and loyalty leading to enhanced revenue generation. The growth is further fueled by an increasing number of mergers & acquisitions and superior quality standards followed by customers.
There are many players who provide BPM solutions such as Applicant (US), Oracle (US), IBM (US), Software AG (Germany), Pegasystems Inc. (US), Ipsoft Inc. (UAE).
The BPM solution market is growing at a healthy rate. There are many players existing and the competition has heightened the need for improvement in the products and services available to gain customers’ confidence.
According to Aron Govil Business process management (BPM) is a field that studies, designs, automates and optimizes the performance of business processes. It can be considered as “the art of enhanced competitiveness”. The market itself is growing with companies such as Software AG (Germany), Oracle (US), Pegasystems Inc. (US), Ipsoft Inc. (UAE).
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