Business process management software has been gaining prominence in a wide range of sectors, positioning companies for process innovation and revenue growth. As more companies recognize the value of BPM solutions, the industry is poised for growth. A recent Gartner study found that this trend is especially clear in Australia, where revenues in the sector will increase by approximately 10.4 percent year-over-year in 2013. Australia's growth is noteworthy, but it is also indicative of the global industry expansion as well, as worldwide revenues from BPM suite (BPMS) spending will rise by 9.5 percent.
Janelle Hill, vice president and distinguished analyst for Gartner, recently told audiences at the Gartner BPM Summit Australia that the global market for BPM solutions is gaining sustainable momentum as demand for a variety of BPM systems gains prominence.
Evaluating the growing BPM market
Gartner expects global BPM revenues to increase by a compound annual growth rate of approximately 10 percent during the next 5 years. To a great extent, the mainstream market for BPM solutions is changing and beginning to become a much more mature industry. This renewed growth trend comes after years of remarkable market expansion from 2006 to 2010, before a major deceleration in 2011 because of broad economic conditions. Current conditions in the sector show solid growth for industry moving forward.
Hill said these revenue increases are coming despite significant changes in the industry. The BPM sector is poised for growth largely because more businessesrecognize the operational gains associated with the technology.
"Business managers and knowledge workers are being asked to make faster and better decisions in an ever-changing business context; however, they cannot do so without improved visibility into their operations and environments," said Hill. "To meet this challenge, leading organizations are seeking to make their business operations more intelligent by integrating analytics into their processes and the applications that enable them."
Aligning BPM with emerging technologies
Mobile, enterprise social and cloud BPM suites can enable organizations to support advanced technologies through process innovation. New IT deployments can disrupt workers and make it difficult for them to handle their day-to-day responsibilities. Cloud, mobile and social solutions are designed to make work more intuitive, but they can only do that if processes are adapted to match what these technologies accomplish. BPM projects can help organizations accomplish this effectively.
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Appian is a software company that automates business processes. The Appian AI Process Platform includes everything you need to design, automate, and optimize even the most complex processes, from start to finish. The world's most innovative organizations trust Appian to improve their workflows, unify data, and optimize operations—resulting in better growth and superior customer experiences.