Figure 1: Market Growth for BPM Industry
iBPM in every sector
iBPM is both a solution and an enabler of solutions for any industry.
In human resources, for example, HR professionals often spend a lot of time onboarding new candidates. iBPM can transform the entire onboarding process, automating and streamlining exhaustive processes from end to end, saving time and resources. Wipro enterprise operation transformation (EOT) helps HR departments deliver more comprehensive hire-to-retire support, perfecting the employee experience from application to their last day on the job.
For sales departments, coordinating purchase orders (PO) and invoices can be cumbersome, requiring a lot of communication between teams. With manual processing, human errors in these tasks are inevitable and time-consuming. Again, iBPM can help here by automating activities throughout this entire process, improving productivity, saving time, and reducing manual errors during invoice and PO entry. These efficiencies also support a shorter sale cycle leading to less requirement of working capital.
Finance departments also handle a lot of paperwork. From internal expenses to external spending, every team comes to Finance for approval or to process a request. This relationship — a single finance department communicating with so many other departments — can make day-to-day operations complex and hard to manage. iBPM can help organizations move towards one-click approvals and create workflows to automate tasks based on specific needs.
The true value of iBPM
Refining business processes might not seem so complicated at first, but take a closer look at a process — even a small, very specific one — and you’ll quickly see how many other associate processes are running in the background, connected to an influencing this one seemingly simple action. Once we start digging , we tend to find simple actions creating bottlenecks that delay the whole process. Sometimes, the solution to these challenges can be just as simple, like putting a check at certain place to ensure that overall flow of the process is not disrupted. Often, though, addressing the entire issue is requires a comprehensive approach.
For one, it is very difficult to keep a track of individual tasks. It is easier for leaders to think of entire processes and manage holistically. iBPM tools can help with this by focusing on the individual tasks and providing leaders with the continuous monitoring they need to manage the entire process more effectively, delivering outcomes that generate value and have greater impact.
At Wipro, we work with Camunda to help organizations implement workflow automation without having to worry about IT resources. We also have our own IP solution known as BASE)))™, which is an end-to-end operations management platform driven by analytics and technology blocks. Base))) delivers targeted solutions which help organizations adapt and manage their business effectively.
Benefits of implementing iBPM
Reducing costs and increasing customer satisfaction can be hard to do simultaneously. How do you balance business costs and customer experience?
Technology can help. With iBPM, organization learn where and how they need to change and which technologies can help them do it. Businesses of all sizes, across all industries are now looking to iBPM for benefits that will help them pull ahead of the competition:
- Visibility & Transparency
Transparency is the top priority for most C-suite employees. In the logistics industry, it is often more important than operations because it helps track vehicles and meet demand with greater efficiency. Transparency helps all organizations monitor and control processes. iBPM software companies are modifying software to provide continuous monitoring and real-time insights. Based on these inputs, organizations can better prioritize the processes that they automate for greater success faster.
- Safety & Compliance
Government rules and regulations are often changing, especially for global organizations. iBPM ensures compliance by continuously monitoring regulations for all relevant processes, alerting organizations of any compliance issue, and investigating it before it becomes irreversible. iBPMs also help organizations monitor internal controls to protect employees and sensitive information.
Technology is growing rapidly and roles are constantly changing. To keep pace, businesses and employees need to be agile. Businesses need to be able to implement changes quickly with minimal disruptions, and their workforce needs the capabilities to adapt to new work environments. iBPM offers organizations a holistic view so they are prepared to implement changes on the fly and adapt to any situation. Once there is a documentation of all processes, it is much easier to assess the impact of proposed changes, comparing various processes and changes linked to them.
- Digital Transformation
Many companies today are going digital and embracing automation. Their digital transformations often start with a roadmap which takes three to four years to create and prioritizes processes to save time and money. iBPM can help safely expedite this process by laying the foundation, analyzing and shortlisting suitable processes for partial or end-to-end automation. No-code iBPM platforms are enabling more teams, not just developers, to analyze and prioritize activities that are best for them. This bottom-up approach will likely spark a culture of digital transformation throughout entire organizations, the benefits of which will be realized over the coming years.