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Business Process Management Stats
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Business process management is an organized approach to enhance the processes’ efficiency in an organization. BPM employs various methods to analyze and comprehend the current reality of business processes and helps in making better decision for the future.

What is Business Process Management?

Business Process Management is a process of modelling, analyzing, designing, monitoring, managing and executing tasks in a an organization effectively. In simple words, Business process management or BPM is managing various processes at the organization to effectively extract value to reach organizational goals.

Over the years the concept of business process management has gained momentum. With myriads of BPM tools available in the market, process management is a stage every business wants to achieve. In the coming years several factors such as Machine Learning(ML), Artificial Intelligence(AI) are expected to drive higher growth in the BPM market.

Compiled below are top business process management market (BPM) statistics and trends in 2022 that will help you navigate your business growth in the future.

Top Business Process Management Stats and Trends

  1. The global Business Process Management market is expected to grow to $26.18 billion in 2028 from $11.84 billion in 2021 at a CAGR of 12.0%.
  2. According to Gartner, using Business Process Management framework in any processes increases the project success rate by 70%.
  3. A study by Lukasz Tartanus of Procesowcy reveals that 69% of the firm that reported established procedure only 4% managed and tracked the performance.
  4. Less than 20% of an organization’s processes have a significant impact on that organization’s competitive stance and are worth the effort to innovate or make disruptive advances through BPM efforts, according to academic and practical research that has been conducted repeatedly.
  5. BPM helps organizations to target realizable business value – and can help point digital initiatives for organization on those targets.
  6. Only 1% of firms, according to another survey, have their business processes sufficiently under control to fully realize the financial benefits of their digital transformation initiatives.
  7. 67.5% of the organization know hoe to manage business processes throughout its lifecycle from strategy design to implementation.
  8. Just under 40% of the entire primary responsibility is held by executive management, which is primarily responsible for process management and digitization.
  9. Forrester claims that BPM initiatives can result in productivity benefits of 30 to 50 percent. Comparatively, only 25% of typical IT and ERP projects were finished.
  10. According to a survey of their clients’ BPM experiences, 81% of enterprise organizations working on BPM initiatives will see an internal rate of return higher than 15%.
  11. According to Gartner’s BPM maturity model assessment, 75 percent of organizations are still in the midst of standardizing and automating processes.

The end goal for every BPM implementation is to achieve process efficiency to provide higher customer satisfactions that leads to enhanced business ROI. To assess where your business in terms of Business Process Management system is standing and where should it be headed, Business Process Maturity Model is introduced.

What is a Business Process Maturity Model?

Business Process Management Maturity Levels

The Business Process Maturity Model (BPMM) describes a five-level progressive approach that helps firms go from inexperienced or immature, inconsistent business operations (level 1) to experienced, structured processes (level 5). The phases are organized in a way that each improvements made at each stage serve as a base for improvements in the following stages.

Today organizations are hastily venture into ambitious business transformation without assessing its current capabilities. For business to make most out of their business transformation initiatives it should

  1. Asses its present capabilities to enhance value for different organizational stakeholders.
  2. Determine what steps to be taken to create products and services necessary to deliver desired value.
  3. Evaluate your BPM maturity to identify gaps to make sure your organization is well-prepared to embrace transformation.

Conclusion

For any business, process improvements include certain touchpoints for example continuous reduction in costs, minimization of waste, elimination of errors, improved productivity and streamlined functions. The above business process management statistics shows that BPM market is growing as business have now considered the value it brings. Quixy is a no-code business process management platform that enables you to create applications according to your process needs without writing any code. Get a free trail and learn more.

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