Business Process Management (BPM) 4.0: Heralding the Start of a New Era
Blog: NASSCOM Official Blog
NASSCOM partnered with Everest Group to gauge the new business opportunities and key levers that will drive growth for the BPM industry in the ‘New Normal’. The report highlights the evolution of the BPM industry to BPM 4.0 – which will be more dynamic, reliable and significantly more agile in driving and shaping the next gen needs of clients. This change will be driven by the acceleration of the current levers as well as some new ones that have emerged during the COVID crisis. The report explores these new levers and tries to decipher how they will shape the future of the industry.
Key Highlights
The BPM industry poised for its next evolution- BPM 4.0
- The BPM industry was amid its third evolution – BPM 3.0 – when COVID-19 arrived- however it demonstrated strong resilience in the face of unprecedented global disruption, with largely satisfied customers
- Mega forces that have come into play in a post-COVID-19 world, coupled with new thinking to create transformative value, paves the way for the next generation of BPM – BPM 4.0
5D-approach- Levers introduced in previous BPM generations with a transformed outlook in BPM 4.0
- Design thinking, applied across all front-, mid- and back-office enterprise functions, with focus on superior and seamless experience for all involved stakeholders, both external and internal
- Data and digital-driven, moving beyond piecemeal application of technology to digital adoption at scale through an integrated Digital Capability Platform (DCP), enabling seamless flow of data and better analytics & artificial intelligence
- Domain-centricity with increased depth as well as an amalgamation of process-based, industry-oriented, and technology-based domain expertise
New levers in BPM 4.0
- Business Process (BP)-DevOps, teams will be made up of people from different areas such as development, IT operations, and business process operations for better collaboration, speed, and agility
- Differentiated and distributed workforce, highly-skilled talent in a hybrid location model, and flexible employment arrangement
Key value propositions of BPM 4.0
- Resilience and agility with lower risk
- Exponential efficiencies across the board
- Active contribution to business Outcomes
- Superior stakeholder experience
The post Business Process Management (BPM) 4.0: Heralding the Start of a New Era appeared first on NASSCOM Community |The Official Community of Indian IT Industry.
Leave a Comment
You must be logged in to post a comment.
