Top Business Process Management Trends In 2024

The business landscape is rapidly evolving, evident in the projected growth of the global Business Process Management (BPM) market to $14.4 billion by 2025. An overwhelming 73% of business executives exhibit a growing interest in BPM, yet only 15% of firms express satisfaction with their process improvement outcomes. As organizations struggle with optimizing tasks (62%) and modeling processes (70%) through BPM, the need for efficient tools and strategic engagement becomes paramount. This blog delves into the current trends in business process management, emphasizing the transformative influence of hyper-automation, low-code/no-code platforms, intelligent BPM, and a customer-centric approach. These trends are reshaping the BPM landscape, addressing challenges, enhancing efficiency, and positioning BPM as a linchpin for digital transformation and sustainability efforts. Understanding the new trends in business process management is crucial for business leaders and BPM experts navigating the competitive realm of process management.

Business Process Management (BPM) Latest Trends

We have compiled a list of 10 business process management (BPM) industry trends in 2024 that will boost the overall efficiency of your business:

1.      Hyper-automation Streamlines BPM

Hyper-automation stands tall among recent trends in business process management, a combination of tools like robotic process automation (RPA), AI, and process mining, crafting a streamlined landscape for Business Process Management (BPM). These intelligent solutions cut operational costs and elevate efficiency, enticing businesses to prioritize process mining and automation platforms. By 2024, an estimated 30% cost reduction looms as organizations embrace these technologies, redesigning processes with a keen eye on predictability and adaptability.

This technological synergy offers a panoramic view of operational intricacies, predicting and preempting issues while fostering adaptability. The result? A comprehensive understanding empowering organizations to fine-tune their operations proactively. Not merely limited to reducing errors, hyper-automation liberates employees from mundane tasks, enabling their focus on value-driven endeavors. The exponential rise in RPA adoption—by a staggering 53%—vividly reflects the tide turning toward these transformative technologies.

2.      Low Code/No Code Democratize BPM For All

Low-code/No-code platforms, devoid of coding hassles, boast intuitive drag-and-drop features. These systems streamline process enhancement and automation, slashing both effort and time investments.

Traditionally, BPM projects demand extensive teams, skilled analysts, and intricate, often expensive solutions. Low-code/no-code systems address this challenge by democratizing BPM, seamlessly generating intuitive maps and dashboards. This accessibility empowers all stakeholders to effortlessly glean insights, fostering a clear understanding of business processes and active participation in projects.

3.      Intelligent BPM Is at Stake

In conventional BPM tools, data wrangling consumes resources for analysis and implementation. Modern BPM evolves into predictive AI-powered systems, integrating data and machine learning. These intelligent tools encompass process and task mining, DTOs, and advanced analytics.

They automate process modeling and analytics, leveraging operational data to suggest improvements. Prescriptive process monitoring enables alerts or automated actions, enhancing efficiency. For instance, by linking systems, supply chains can auto-update clients, saving time and boosting customer service.

4.      Process Mining Overtaking the Business Process Management Market

With the surge of hyper-automation, low-code/no-code platforms, and AI/ML, organizations are shifting from traditional improvement methodologies like Six Sigma to embrace process intelligence.

In the past decade, BPM projects employing improvement methodologies decreased from 21% to 12%. In contrast, intelligence tools saw a rise to 28%, and process automation surged to 33%.

Google searches reveal a similar pattern—process mining, intelligence, and discovery have gained traction alongside process management. This trend signals these tools’ dominance in the BPM market, emerging as pivotal solutions for process management and enhancement.

5.      Collaboration Is Rising as a Major BPM Benefit

Enhancing collaboration has proven pivotal in driving heightened productivity and elevating customer satisfaction. However, implementing this in expansive enterprises with globally dispersed teams poses notable challenges.

This challenge has magnified for small to medium-sized businesses post-COVID-19, as the shift to remote work heightened the need for refined business process management and robust collaboration over strategic operations.

Consequently, the landscape of business process management has evolved to encompass essential features such as defining improvements, setting process-related alerts, facilitating secure document sharing, enabling seamless communication, and optimizing issue management alongside robust access control protocols.

Remarkably, a staggering 49% of business executives recognize collaboration as the primary benefit derived from their Business Process Management (BPM) initiatives.

6.      Real-Time Business Process Management Tools Ensure Agility

Historically, business process management projects centered around accumulating historical data for comprehensive process understanding and documentation. Presently, the shift prioritizes real-time monitoring and active implementation to foster agility and competitiveness in the market.

Modern BPM solutions encompass control functionalities and seamless cloud connectivity, facilitating the oversight and management of business operations regardless of time or location. This allows process experts to bypass extensive redesign endeavors, swiftly effecting impactful and agile alterations.

An emerging technology in this realm is predictive process monitoring, empowering business users to swiftly identify and rectify issues within shorter timeframes.

7.      Process Analytics Is the New Process CEO

The surge in process automation within business operations has led to a wealth of data capture, sparking a heightened demand for its utilization within the business process management sphere.

The trajectory points toward an increased reliance on process analytics capabilities as they enable industries to monitor and implement improvements without necessitating extensive, overarching process overhauls.

Process professionals can leverage performance KPIs, focusing on efficiency, effectiveness, and compliance to manage costs and time. These KPIs offer invaluable insights, fostering data-driven decision-making and amplifying productivity by up to 50%. This strategic use of insights empowers BPM teams to swiftly identify and eliminate non-value-adding tasks like reworks, redundancies, and unnecessary steps.

8.      BPM Gaining a Customer-Oriented Focus

Smooth, interconnected processes are cited by customers as the cornerstone of a 70% satisfaction rate, correlating directly with economic gains between 20-50% due to customer-centric enhancements.

However, among firms investing in primary process transformation, 41% lamented the absence of a customer-centric viewpoint.

BPM solutions stand poised to measure customer effort scores, harness feedback, and chart customer journeys, injecting client perspectives into BPM projects. This integration empowers leaders and analysts to revamp primary and secondary operations while reassessing back-office activities, all geared towards elevating the overall customer experience.

9.      BPM as the Digital Transformation Enabler

Process transformation promises a 50% profit surge, yet employee resistance, driven by cost concerns (28%) and technological adaptation hurdles (26%), often impedes digital initiatives.

BPM remains pivotal in transformation, integrating new technology, shaping strategy, and redefining employee roles.

Modern BPM now offers a holistic view, visualizing the interplay of employees, technology, and resources. Emerging solutions streamline analysis, modeling, and improvements, offering dynamic process maps that provide comprehensive end-to-end visibility, encompassing critical details like KPIs, business rules, roles, and documents.

10.  BPM Catching Up with Sustainability Trend

In recent years, sustainability has emerged as a significant trend, with 85% of customers favoring environmentally conscious businesses. This trend has driven major companies to pivot towards delivering sustainable services and goods, spurred further by regulatory pressure to reduce environmental impact. Metrics like greenhouse gas emissions, emissions intensity, circular economy indicators, and energy consumption now hold importance in compliance efforts.

AI has already empowered larger enterprises to meet sustainability goals, and we foresee intelligent BPM playing a pivotal role in various types of business transformation. Business leaders can use intelligent BPM to establish benchmarks or rules as ideal models, comparing these benchmarks with actual processes to gauge compliance levels.

For instance, process mining, with its suite of capabilities including compliance checks and root-cause analysis, enables organizations to establish KPIs for environmental, social, and governance reporting. It allows monitoring of compliance issues and identification of responsible areas, sources, and individuals, contributing significantly to sustainability efforts.

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Closing Thoughts

The evolution of Business Process Management (BPM) is marked by key trends reshaping its landscape. Hyper-automation, integrating RPA, AI, and process mining, propels efficiency gains and cost reductions of up to 30% by 2024. Low-code/no-code platforms democratize BPM, engaging stakeholders across business spectrums. Intelligent BPM, powered by real-time monitoring and AI, predicts issues and elevates customer experience. From historical data to real-time monitoring, the latest trends in business process management now include analytics, augmenting productivity by 50%.

Customer-centricity becomes pivotal for BPM, correlating high satisfaction rates with economic gains. Simultaneously, BPM emerges as a linchpin for digital transformation, redefining roles and offering comprehensive process views. Moreover, sustainability integrates into BPM, using tools like process mining for environmental compliance. As BPM adapts to changing landscapes, these business process management market trends underscore its critical role in enhancing efficiency, customer focus, and sustainability, positioning BPM as a catalyst for organizational success.

Frequently Asked Questions

What Is the Future of Business Process Management?

The future trends of Business Process Management (BPM) include hyper-automation, intelligent tools, customer-centricity, and sustainability integration, emphasizing collaboration, real-time insights, and digital transformation for agile, efficient, and customer-focused operations.

What Are 4 Benefits of Business Process Management?

The 4 benefits of Business Process Management (BPM) are as follows:

1. Enhanced Efficiency: BPM streamlines operations, eliminates redundancies, and optimizes workflows, leading to increased productivity and faster task completion.
2. Improved Quality: By standardizing processes, BPM reduces errors, ensures consistency, and enhances the overall quality of outputs or services.
3. Cost Savings: It identifies inefficiencies, reduces waste, and enhances resource allocation, resulting in reduced operational costs and better resource utilization.
4. Adaptability and Agility: BPM facilitates agility by enabling organizations to quickly adapt to changes, innovate processes, and respond to market demands more efficiently.

What Is the BPM Life Cycle?

The BPM (Business Process Management) life cycle consists of six key stages:

1. Design: This initial phase involves identifying processes, designing workflow models, and planning for implementation.
2. Modeling: It entails creating graphical representations or models of the processes to understand their flow, interactions, and dependencies.
3. Execution: In this phase, the designed processes are put into action, often through automation or manual implementation.
4. Monitoring: Continuous tracking and analysis of process performance occur in this stage, assessing metrics, identifying bottlenecks, and ensuring adherence to standards.
5. Optimization: Based on monitoring outcomes, adjustments and enhancements are made to improve processes, streamline workflows, and boost efficiency.
6. Automation: The final phase involves automating processes where possible, using technology and tools to facilitate seamless execution and minimize manual intervention.