Indian BPM market aims for $50b in revenue by 2020
Looking for growth in the BPM market? Look to India. Leaders in the space have set a goal to increase this market’s revenues to $50 billion by 2020. This is a big goal. But keep in mind that India makes up a huge part of the global BPM market with over 2500 firms and 1.1 million people employed.
Growth in this sector is attributed to things like digital transformation and process automation, which are changing the nature of BPM. A BPM provider is no longer just a platform to outsource work to. It can act as a significant source of strategic business advantages.
IoT needs BPM
Interested in IoT? Without BPM, it might be useless. For enterprises, BPM will essentially act as the directives for IoT. Without it, you risk owning a technology without a purpose. In that case, it might be useful to ensure that you have a solid and consistent method for BPM and business rules management across your company before diving headfirst into IoT.
Be careful though. As writer George Lawton points out in his prediction for enterprise mobile development in 2016, it might not yet be the time to put all your chips in on IoT. There are certainly advancements to look forward to, such as a surge of CRM systems merged with IoT. But its focus has been largely on vertical markets (think FitBits, Nest) and not so much on general enterprise management.
Is your city doing BPM right?
Talking about using BPM to improve government processes is not a new thing. The BPM world has been on the US government’s radar for a number of years now. We’ve previously explored how the government is making use of big data analytics, something that begs to have some kind of BPM strategy attached to it.
And this is happening at the municipal level as well. The Frankston City Council of Victoria, Australia, recently invested in BPM technology that could help them revamp inconsistent, non-standardized processes, particularly in delivering community services and figuring out ways to increase land value of certain areas. This is being done with Promapp, a cloud-based BPM solution provider that’s had its name featured alongside companies such as Toyota.
It will be interesting to see how some of these predictions affect BPM technology and the market in the end of 2016 and into the next year. What else is happening in the BPM world that has your interest? Let us know with your comments.