16 Jun A FUTURIST SPEAKER’S TAKE: RETHINKING BUSINESS PROCESS MANAGEMENT
Business process management (BPM) is a methodology that you may already be familiar with, even if you don’t know it by that name. It is a systematic approach to improving the way an organization operates by analyzing, designing, implementing, monitoring, and controlling its business processes. The practice has traditionally focused on optimizing efficiency and reducing costs, but its future is likely to be much more dynamic and transformative.
The rise of digital technology has already had a significant impact on the field. The use of automation and artificial intelligence (AI) has enabled businesses to streamline processes and increase productivity. The implementation of robotic process automation (RPA) has allowed companies to automate repetitive and rule-based tasks, freeing up employees to focus on more strategic work as well.
The next stage in the evolution of BPM is likely to be the integration of AI with process management. This will allow businesses to automate more complex processes and make real-time decisions based on data analysis. For example, AI could be used to predict which processes are likely to encounter bottlenecks and suggest improvements. This would enable businesses to be more proactive in their process management, rather than relying on reactive fixes.
Another area where BPM is likely to develop is in the field of customer experience. In the past, the practice has focused on internal processes and improving efficiency. However, businesses are now realizing the importance of delivering a seamless and personalized customer experience. The future of business process management can play a key role in this by analyzing customer journeys and identifying pain points. By optimizing processes to better meet customer needs, businesses can improve satisfaction and loyalty.
One emerging trend to keep front and center is the use of blockchain technology. Blockchain is a decentralized ledger that enables secure and transparent transactions. It has the potential to revolutionize BPM by providing a secure and auditable record of all process transactions. This could be particularly useful in industries such as finance and healthcare, where compliance and data security are critical.
The future of BPM is also being remade as businesses become more conscious of their environmental impact. For example, the technique can be used to identify inefficiencies and reduce waste, such as by optimizing supply chain processes and reducing transportation emissions, businesses can reduce their carbon footprint.
The changing nature of work will impact things here too. With more employees working remotely or in distributed teams, BPM is going to evolve to accommodate these new ways of working. Picture growing use collaborative tools and platforms that enable employees to work together seamlessly, regardless of their location.