Business process management (BPM) is the current en vogue topic. Across sectors, verticals, industries and nations, discussions are taking place as to how the concept can fit into organisations to drive efficiency and productivity alike.
Yet some remain sceptical.
In companies across the country, questions are being asked of the viability, and relevance, of adopting business process management (BPM) tactics.
Is BPM a fad?
Does BPM deliver results or is it simply the latest “hack”?
Can BPM actually make a difference to our operation?
But to fully help make your minds up, we took a dive into the statistics.
Numerous research studies have been conducted and we’ve pooled the results. To help you decide, can business process management make a difference for you?
“A survey of 184 business process experts around the world found that 52% of companies rarely conducted formal modelling of their processes.”The BPTrends 2018 Report
“Only 4% of companies regularly measure and manage their documented processes.”Process
On average, less than half of your competition are seizing the BPM opportunity. This means you can strike whilst the iron is hot and get ahead.
Not only that, but only 1 in 25 organisations regularly review the processes they’re using.
Therefore, if you can implement best practice workflows, but also consistency evolve them in line with market trends, you’ll be the leader in your field.
“Leaders who are reluctant to invest heavily in business process management are concerned about multiple process changes.
However the report still found 93% of respondents pursued two or more process improvements and 59% worked on at least one significant process change.”The BPTrends 2018 Report
Here we can see that, if you’re having doubts, you’re not alone.
And yet, even amongst those organisations hesitant to take the plunge, over half are still improving at least one key operational process.
It’s not too late to get left behind. But it’s also not too late to get ahead.
Simply having a process isn’t enough.
Methods can quickly become outdated and actively harmful. In other words, if you’re not actively measuring the outcome of using the processes you’ve documented, there’s no way you can know whether or not you’re even doing the right thing.
A lack of investment in consistency leaves you wide open to the normalisation of deviance.
This means that a mistake can make its way into your process and become the norm. Inevitably, this results in your team performing their tasks incorrectly every single time.
“80% of organisations conducting business process management (BPM) can expect to experience an ROI of, at least, 15%.”Process Excellence Network
“The global BPM market will expand from $6.96 billion in 2016 to $13.52 billion in 2021.
This estimate means that bigger companies will spend more and, most significantly, smaller companies will enter the market.”Global Info Research
BPM is no longer solely in the remit of the giant corporations. Businesses of all size can benefit from it’s introduction.
Newcomers to the business world may think that companies revolve around sales, new hires, and new markets.
But before getting to these metrics, a successful business needs efficient and cost effective processes.
Global investment patterns suggest this reality is now be acknowledged by more and more aspirational organisations.
The Risks Of Failing Process
So what can happen when process goes wrong?
“Microsoft lost 4.46 billion hours of user time in September 2014 because processes were not followed.”Data Centre Dynamics
“NASA lost its Mars Climate Orbiter in 1999 due to a miscalculation of the probe’s orbit around the planet.
This miscalculation was due to a failure to use consistent processes from production to orbit.
NASA spent $125 million and several years developing the orbiter that were wholly lost due to an ineffective process.”CNN
By no means are we saying your process mistakes will be on the scale of Microsoft and NASA.
But think for a moment…what would a catastrophic failure of process look like in your world?
What are the repercussions of poor customer service? A lack of unity between disparate stores? An inability to know for sure that you’re delivering the best version of your business, 100% of the time?
If you’re not addressing solutions to these outcomes, you risk them becoming a reality.
The Outcomes Of Action
“81% of respondents who initiated bpm cycles experienced savings of at least 16%.”Gartner
“In running a cost/benefit analysis for a client, Triaster discovered that by improving just one common process they could save over £300,000 per year.”Triaster
As a direct result of BPM, gym management software company Wodify halved their employee onboarding time from a month to two weeks.”Wodify
“Implementing BPM boosts the success rate of your projects by 70%.”Gartner
The results speak for themsleves.
Savings on time. Savings on resources. Savings on expenditure.
Increases in efficiency. Increases in productivity. Increases in revenue.
If you’re still asking yourself, can business process management make a difference, simply imagine what any of these improvements would mean for your own successes.
The answer is, unequivocally, yes. BPM can, and will, be a game changer for each and every organisation.
Ready to explore how Anthill can help your harness the powers of BPM for your own operation? Schedule a demo today.
Intrigued to learn more? Check out our Insights Hub to keep your business at the cutting edge.
November 9th, 2021-