BPM Market to be Worth $5.3 Billion by 2017
The research, conducted by Global Industry Analysts, suggests that the global market for BPM will reach $5.3 billion by 2017. This growth will be fueled by cloud computing technologies that will allow BPM to more affordable for organizations.
The research argues that mobile computing will offer another area of growth. An increasingly flexible and global workforce are wired to the office at all times through smart phones or tablet devices. The research suggests that BPM technology will evolve to allow employees to participate in process improvement wherever they may be. The ability of companies to keep employees connected with enterprise processes, while on the move, is now critical to success in a fiercely competitive and rapidly changing marketplace.
The difficult global trading conditions are the final factor in the growth of BPM around the world. This current period of financial stress on developed economies is inducing greater emphasis on business effectiveness and efficiency, thereby opening up a new window of opportunity for IT solutions like BPM, which help ensure the viability of enterprise and managerial approach in times of stress and change.
Gartner however urged caution earlier this year, when they recommended that organizations focus this BPM efforts on people rather than technology.
"Just as we have found in the past, it's not really implementing the software that's the problem. What is the problem is that you're changing the way people work, and making sure that two years from now, they don't go back to their old habits while also trying to circumvent [what they were told to change]," Elise Olding, research director, BPM group at Gartner. said.
Forrester meanwhile announced 5 key barriers to ensure that your BPM efforts achieve the results you want:
- You're not prepared to demonstrate the value delivered
- Starting BPM without understanding BPM
- Rely on facts, not perceptions
- Don't forget your ROI
- Measuring rather than improving