Uses of a BPM Platform
The Bpm platform is a holistic systems approach to achieving optimized business outcomes. BPM platforms enable organizations to align business functions with customer needs, and help executives determine how to deploy, monitor, and measure company resources. When BPM software is executed properly, it can enhance the efficiency and productivity of business processes. Implementing best practices in BPM contributes to sound financial management and provides visibility into how the organization is progressing toward meeting its success goals.
A BPM platform provides several benefits for the business, some of which are listed below:
Increased revenue growth – workflow automation as part of the BPM implementation is effective in eliminating resource wastage from the process. Improved resource utilization in turn increases the revenue for the business.
Cost reductions – BPM platforms streamline the process by removing redundant and repetitive steps/tasks. When repetitive steps are eliminated, it brings down the cost of execution of these steps. Moreover, the team members get to spend time on important tasks, which in turn improves business productivity.
Compliance management – BPM platforms standardize business processes so that all the steps and process data is as per regulatory standards. The data is always audit-ready and controlled access is given so that not everyone has access to sensitive business information.
Risk management – a BPM platform that enables businesses to ensure the highest levels of data security. Automation of key tasks brings about standardization of business operations, which in turn mitigates the risk of deviation from standard operating procedures.
Productivity improvements – when mundane tasks in the process are automated, the team gets more time to focus on meaningful tasks that add value to the business. More resources focusing on strategic tasks in turn improves the productivity of the team. Implementing a BPM solution improves productivity by as much as 50%.
Improved customer experience – the more efficient the business processes, the better will be the quality of the products/services delivered by the business. Improved quality of deliverables translates to better customer experience. Forrester’s research with their clients that employ BPM solutions revealed that BPM projects deliver 30-50% productivity gains for processes that involve back office staff.
Reduced lead cycle time – implementing a BPM solution reduces the lead time by as much as 90%. Elimination of redundant steps in a process speeds up the process and reduces the lead time.
Top 5 BPM Platforms for 2022
Choosing the right BPM platform for the organization is a decision that should be taken after considering all the features of different BPM software available in the market. Gartner has curated a list of the top 10 BPM platforms in the market. We have listed the top 5 in this blog.
CMW Tracker –
businesses looking for robust business process automation software would find the right match in the Comindware Tracker. This software is the market leader in business process automation from scratch. A non-coding software for business process modeling and management, workflow automation, and productivity boost. The visual designer enables a quick workflow setup with no IT resources required. CapEx approval workflows, IT service workflows, Document workflows, Order processing workflows, and Claims workflows are some of the workflows that can be automated by the CMW tracker.
Appian BPM Suite –
a low-code automation tool that democratizes data modeling and workflow automation, enabling the user to deliver workflows and applications fast. Appian helps unify the data, build apps, and automate business processes with low-code BPM software. You can integrate enterprise data sources without any migration with the Appian BPM suite.
Nintex Workflow Automation –
the Nintex workflow automation platform helps businesses discover, automate, and optimize business processes. The Nintex Workflow cloud is the next-generation automation platform that helps in process mapping and management, intelligent forms and mobile apps, workflow automation, and document automation. This BPM platform includes RPA, eSignature, connectors, and process analytics features.
Oracle Fusion Middleware –
this is a cloud platform for digital business for the enterprise and the cloud. The Middleware solution provides an entire suite of automation tools and integration solutions for management, collaboration, and business intelligence reporting. Some of the featured solutions are Cloud Platform as a Service, Mobile solutions, Internet of Things, Content and experience management, Big data integration, and Enterprise security.
webMethods Integration platform –
this platform provides you the power to connect anything faster via open, standards-based integration. This platform is easily scalable and ready for integration.
BPM platforms provide businesses with a complete suite of business process management solutions that take care of process modeling, workflow automation, and process reporting. A Bpm platform like Cflow streamlines business processes so that resources are used optimally for optimal business outcomes. The no-code workflow automation platform automates key business processes like finance, HR, IT services, and procurement. To explore Cflow and its features, you can sign up for the free trial or demo right away.