The 4 Business Process Management Vendors Worth Watching in 2021
Blog: Solutions Review - Business Process Management
Solutions Review’s business process management vendors to Watch is an annual listing of solution providers we believe are worth monitoring in the coming year.
The process of searching, evaluating, purchasing, and deploying a Business Process Management (BPM) solution is not as simple as it once was. There’s no such thing as a one-size-fits-all approach to BPM software, especially since solutions come in various flavors and each features a particular set of capabilities, strengths, and drawbacks.
To help you keep your finger on the pulse of the marketplace, we’ve turned our gaze to the future of BPM software. Whether its inclusion in a recent analyst report, the release of an innovative new tool, or a bump in venture funding, these are the business process management vendors that have earned watch list status from Solutions Review for the year ahead. Companies are commonly included if they demonstrate a product roadmap aligning with our meta-analysis of the marketplace. Other criteria include recent and significant funding, talent acquisition, a disruptive or innovative new technology or product, or inclusion in an analyst publication.
The BPM Vendors to Watch in 2021
The iGrafx Strategic Transformation Platform enables transformation by connecting strategy to execution while mitigating risk, ensuring compliance, and providing a framework for governance, resiliency, business continuity, and continuous improvement. The solution is a cloud-based platform that enables businesses to meet today’s increasing challenges by executing a strategic vision, optimizing the customer experience, operationalizing Governance, Risk, and Compliance (GRC), and delivering holistic Quality Management (QMS). 2021 was a notable year for iGrafx, as it received an investment from Banneker Partners and announced several new appointees for its leadership team, including a new CEO, SVP of marketing, and more.
Newgen Software Technologies Ltd. is a global provider of Business Process Management (BPM), Enterprise Content Management (ECM), Customer Communication Management (CCM) solutions with a footprint in over 60 countries. The Omniflow iBPS Business Process Management Suite drives enterprise-wide digital transformation by connecting an organization’s resources. In 2021, Newgen expanded its platform with several new updates, announced a new CEO and COO, and was featured in reports from Forrester and Gartner.
Laiye provides a suite of robotic process automation (RPA) and AI-powered tools to help companies transform their processes in smart, effective, efficient, and productive ways. The platform comes with more than 400 pre-set commands that can be used for various projects, including those with a series of complex processes. Laiye’s solutions are best suited for retail, education, healthcare, logistics, and financial services markets. Other features available on the platform include process mining, conversational intelligence, text recognition, natural language processing (NLP), and image recognition. For 2021, Laiye raised $50-million in a Series C+ funding round, began to expand its international solution offerings, and was featured in a Gartner Magic Quadrant report for RPA.
OutSystems is a low-code platform equipping enterprises across industries with the tools they need to develop, deploy, and manage enterprise-grade applications. The platform combines the power of low-code tools with a suite of development capabilities to help developers build applications that improve the user experience, unlock workplace innovations, and modernize core systems. Features include an architecture dashboard, workflow builder, integration builder, workflow automation, AI-assisted tools, and more. 2021 saw the company raise $150-million in a capital funding round, release a “next-generation” application platform, and expand its board of directors. The company was also featured in reports from Gartner and Constellation Research.
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