BPM Analytics
Navigating business process management in 2024
Surveys show that 70% of business owners find Business Process Management (BPM) helpful in managing and measuring processes. However, over the years, the challenges, tools, and best practices of using BPM have shifted significantly.
From robotic process automation (RPA) to process mining to low-code development, new advancements are shaping how businesses navigate BPM in 2024. This article explains the challenges and trends of BPM in your organisation in 2024.
BPM challenges in 2024
Business leaders must learn the challenges that may lead to a potential failure of BPM implementation in their organisation and find ways to address them. The top seven challenges of BPM and best practice recommendations in 2024 are:
Incorrect data collection
Erroneous data has a direct impact on process maps, models, and KPIs. One reason for this could be that some organisations do not follow essential processes. The best practices to collect correct data for process analysis are –
- Intelligent BPM software
- Extend data collection
- Improve data quality
Use process mining to extract data from IT systems and interactions. Thus, analysis can depend on real-life data to conclude.
BPM teams must give sufficient time to data extraction and cleaning. This will give clean data to upload on systems.
Businesses must improve data quality by automating data entry and classification, and de-duplication.
Absence of the right BPM technology
BPM technology that does not suit your needs can result in low ROI and high repetitive and manual tasks. Different businesses have different technology requirements, such as RPA, hyper-automation, Business Process Automation (BPA), etc., to reduce manual processes. Business process management solutions help map, mine, capture, analyse, monitor, and automate business processes.
No real-time process visibility
BPM leaders cannot identify the root cause of a problem without understanding the process thoroughly. As a result, they may invest in the wrong technology. Gather data and map it using process modelling and task mining to bring real-time visibility.
Sporadic skill development efforts
Surveys show that 42% of employees do not have the necessary training for adopting process techniques. BPM leaders can overcome this by taking a low-code/no-code approach to democratise the tools. Easy dashboards and simple process maps can help you relocate resources and improve communication.
Outdated process KPIs
According to a survey, only 16% of businesses said their transformation efforts maintained and improved their process performance. This causes a lack of process improvement and reengineering. BPM leaders must have clear KPIs to evaluate the impact of BPM on their operations and isolate the areas of improvement.
Risks with complex processes
A lack of agility in the dynamic can result in a low success rate. 76% of business owners say that the complexity and interdependency of processes are the causes of low success rates. Changes in the operational workflow can lead to missing errors, process risks, and operational disruptions. To deal with this, BPM leaders can simulate the changes to judge the impact on the workflow or analyse complex processes using multi-level process mining.
Irregular project monitoring
BPM projects require continuous monitoring after implementation. Due to a lack of this, 63% and 37% of RPA users encounter failed time expectations and cost expectations, respectively. Intelligent BPM tools help track the changes that project leaders can use to improve.
BPM trends in 2024
BPM drives modernisation through process-driven transformation and is one of the most significant technology trends of 2024. Here are the 6 BPM trends to watch out for –
Role of Gen AI in BPM
Integration of Gen AI with BPM opens unprecedented opportunities in increasing process efficiency and addressing the complex challenges discussed above. Gen AI accelerates business process transformation and serves as a major driver for innovation and operational excellence.
RESTful APIs and interoperability
Integrated software systems focus on seamless interoperability and transparent embedded applications. Before acquiring new applications, BPM leaders must consider their compatibility and interoperability through RESTful APIs to share data and operate at scale.
No-code/low-code process streamlining
Model-driven development improves business processes to enable collaboration between IT and business teams. New modelling system behaviours in BPM will push for code reuse, low-code, and no-code development.
Process discovery automation
Building a process map from a series of events is a complex task. This is where machine learning looks for repetitive patterns to harmonise, understand, and optimise similar processes. Human offline actions would still need discovery through interviews and observations. However, this will improve with the help of keyloggers and location trackers.
Integrate BPM in software platforms
Consolidating the IT stack under one vendor will increase the use of BPM for SMBs and large enterprises alike. With the help of low-code and integrated platforms, businesses will undergo digital transformation through BPM implementation.
How can Infosys BPM help you with business process management?
As a global leader in next-generation business process management services, Infosys BPM helps businesses in process transformation, analytics, automation, and more. With cutting-edge technologies and deep domain expertise in AI, blockchain, MDM, and geospatial data, Infosys BPM secures infallible growth for businesses.
Read more about business process management at Infosys BPM.
