What is iBPMS?
Intelligent Business Process Management Software (iBPMS) is an integrated group of technologies that work together to better support business processes. Using artificial intelligence combined with standard business process management software, iBPMS creates a dynamic, agile system that allows organizations to create workflow solutions that automate and transform everyday business processes. Intelligent Business Process Management Software lays the critical foundation for a successful digital transformation.
iBPMS systems improve on their predecessor, Business Process Management (BPMS). They do this by allowing for more complex event processing, interactive social media, real-time analytics, and mobile platform support. Previously, operations management have used BPMS in a variety of methods to model, analyze, improve, measure, discover, and automate business processes. iBPMS takes this one step further by incorporating artificial intelligence, the power of cloud computing, the ability to have real-time decision making, event processing, and system linking into their management software.
iBPMS helps organizations to see where the bottlenecks exist in their systems so that they can better manage costs and make their operational processes highly efficient, which further aids their staff in becoming as productive and proactive as possible. The end goal is making business process management more intelligent, more connected, and more powerful.
iBPMS platforms generally include:
- Rules management
- Content repository
How is iBPMS Used in Business?
From retail to finance to manufacturing and even agriculture, there is almost no limit to the variety of industries where iBPMS can be an invaluable tool. While a business may implement iBPMS for a number of reasons, there are several common ones that we will explore more in-depth below.
Identifying Opportunities for Process Optimization
iBPMS can help businesses identify opportunities within their organization for process optimization, which is just one of the many common reasons that a business will implement iBPMS, as illustrated in the following example: A large mobile network company noticed that it was losing customers. It takes far more effort to gain a new customer and is therefore far more effective to work on reducing churn and customer defections instead of solely focusing on reaching new customers.
Using artificial intelligence, they could more thoroughly and efficiently analyze and process social media posts made by their customers, which allowed them to gain a clearer picture of when and where they were being mentioned online, as well as in what context. Seeing the issues customers spoke about on social media was just the first step, however. They could add in the transaction data from their billing systems into this analysis process, along with helpdesk outcomes, and a range of other customer touchpoints.
From there, it became significantly easier to identify the weaknesses in their system that customers were unhappy with and move towards resolving them. By plugging the gaps in the company’s processes, customers were happier with the service, and much more likely to remain with the company.
Add Service Extensions for Mobile Users
Another common way in which a business can benefit from iBPMS is by adding service extensions for mobile users. Customers, employees, or other stakeholders in the organization that feel isolated or otherwise marginalized from aspects of or services provided by the business can benefit from being integrated into a larger process. Service extensions can help users become more involved in that process, encouraging dynamic collaboration:
- Field employees can access the entire online system to better deal with logistics and communication.
- Customers can track deliveries, make product suggestions, or connect with employees.
- Vendors can see at a glance where orders, invoices, or payments are in the system.
Process Real-Time Events
iBPMS can also help organizations become more efficient at processing real-time events. For example, a large retailer may decide it wants to become smarter about how it competes on price. With iBPMS, it can implement a system that does a price check analysis of all their products. Using systems that trawl through their competition’s pricing for that day, they can identify aggressive price reductions, allowing them to take action, whether that means also lowering their price or changing their marketing strategy as a result.
This means that not only are they able to compete directly with their opponents, but they are not reducing prices when there is no need for it.
To Take Advantage of more Analytics Functions
iBPMS can reduce errors and the need for any manual interventions. Using the cloud, big data, and incorporating analytics, platforms can quickly adjust to new scenarios. Expanding the use of analytics functions means iBPMS can more easily see trends and patterns.
For businesses that have not yet made the jump to eCommerce wishing to automate their sales process, iBPMS can help implement this via hyperautomation. Hyperautomation uses a range of advanced machine learning and artificial intelligence tools to identify where the processes can benefit from robotic process automation. Integrating an automated ordering system via phone or app, enabling automatic dispatch of the products, and triggering the billing process is just one example of how iBPMS can implement end-to-end process automation.
Why Do Organizations Need iBPMS?
As the many examples above have illustrated, there are many reasons why an organization would opt to take advantage of iBPMS. Current systems and transformation programs may handle a business’s capacity today, but there’s no guarantee it will provide for flexibility and growth in the future.
Provides intelligence for Industry Specific Processes
There is no “One Size Fits All” when it comes to different organizations. Every industry has specific processes, legislation, and outcomes that makes it unique from other businesses. iBPMS endeavors a solution that’s created for the specific needs of the given organization.
Enables Use of Other Technologies
Through the implementation of iBPMS, businesses will receive integration support for a range of technologies, giving them overall better capabilities to go to market faster with new offerings in the future.
Speed of Process and Cost Savings
One of the ongoing issues that many businesses face is the repetitive tasks that sometimes dominate the day-to-day workflow. By using iBPMS and integrating robotic process automation, many of those tasks can instead be done by machines. This not only decreases errors and increases speed of operations but also allows employees to spend their time on more critical tasks.
Digital transformation should always be about changing the way you do things for the better, and not just changing for the sake of it. A successful digital transformation should address the dynamic needs of the customer and optimize processes within the business. All digital transformations need to strive to find that perfect balance between business needs and making life better for their end users and stakeholders.
Benefits of iBPMS
Easy to Use
With platforms designed to be user-friendly even for those not technologically savvy, iBPMS is simple to use. The suite is user friendly, with visual drag-and-drop functions, minimal or no need for coding, and easy workflow creation.
Increased Business Agility
A significant challenge for many businesses has been in staffing the IT department. Not only are there challenges around obtaining and retaining quality staff, but as the need for artificial intelligence increases, not all companies can afford data scientists or specialized IT teams.
The implementation of iBPMS means low-to-no-code tools, less dependence on IT, and analytics that are accessible to all. This means more data-driven decisions, faster speed of predictions and information, and a far more empowered workforce. With all of these pieces in place, decision-making can happen much more quickly—knowing the outcomes will be as desired.
iBPMS platforms require minimal investment compared to many systems. Being cloud-based means no physical servers are required, making scaling up a simple task with almost no cost barriers.
Using artificial intelligence combined with business software means that the changes an organization makes will produce measurable, quantifiable results. Analytics show exactly where and when these changes result in a difference. These differences are easy to both monitor and measure, so the business remains data-driven.
Easy Integration with the Internet of Things
The Internet of Things (IoT) consists of most items of hardware, from printers to fridges and almost everything in between. iBPMS integrates well with these devices, making it a simple task to add and integrate peripherals to even the most complex organization.
Challenges of iBPMS
As with any technology, however, there are weaknesses and challenges. Still, most of the drawbacks associated with iBPMS can be overcome with a bit of time, planning and thought.
Poor Financial Outcomes
While iBPMS is affordable, if done incorrectly, it has the potential to be costly in two ways. An organization can invest in the wrong system and end up spending money in the wrong places. Also, an organization does have to take into account the possibility that the return on investment may not be realised if the predictions, automations, and analytics aren’t right for the business.
Solution: Before any system is purchased, research has to be completed thoroughly. Not only does the system have to be the right one for the business, but it has to be implemented correctly. This means research into how both employees and departments operate, as well as both the overarching business issues and micro-issues that need to be dealt with.
Some organizations utilizing iBPMS report that the system has not increased adaptation to modern technology or resulted in innovation. This can be due to lack of staff buy-in, management reluctance to fully trust or commit to technology, or an organization simply not taking full advantage of the capabilities of their new process or automation.
Solution: Digital transformation is not an easy process. It needs buy-in from every layer of the business. This means involving management and employees in the research process, allying any fears, and moving forward with an implementation plan that involves training and ongoing support.
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