Exploring the Top Business Process Management Trends in 2024
If you are wondering what the top business process management (BPM) trends are in 2024 then look no further. Here at Skore we’ve taken a look at the year ahead and here are our team’s predictions for top trends to look out for in 2024.
The importance of process improvement and managing your processes effectively continues to build in 2024 especially as organisations seek to thrive in a rapidly evolving and unpredictable landscape. We consider these our top 5 trends in Business Process Management.
1. AI’s Generative Power in BPM
The integration of AI, particularly its generative capabilities, is becoming a cornerstone in optimising BPM. According to TechWise Insights, 85% of companies have reported increased process efficiency by incorporating AI-generated solutions into their BPM frameworks. From task automation, process design, process simulation and predictive analytics to name but a few, AI is reshaping how businesses approach and manage their processes. The greatest steps will be taken in customising AI for specific use cases, enabling more reliable improved solutions. It will be a combination of human influence and AI models that create the most impressive results. This will be a key continuing trend in Business Process Management in 2024 as the AI revolution continues.
2. Sustainability Initiatives in BPM
Sustainability has transitioned from a corporate buzzword to a critical component of BPM strategies. From reducing environmental footprints to enhancing resource efficiency, businesses are integrating green initiatives seamlessly into their BPM frameworks. Also known as Green BPM, process management enables companies to systematically identify, enhance and implement sustainability initiatives into their business. In addition, using a BPM software creates a record of a businesses’ commitment, installing not only confidence and trust, but also generating reference documentation that is easily updated and maintained.
3. API and Integration Driving Efficiency
In the quest for streamlined processes, businesses are leveraging Application Programming Interfaces (APIs) and integration solutions. However ensuring that you choose the suitable APIs for efficiency, connectivity and success is still a valid and pressing concern. In 2024 there will be an even bigger push to ensure that companies select systems that integrate at scale. Expect to hear and learn more about REST APIs (Representational State Transfer Application Programming Interface) which enable businesses to automate business processes to avoid manual errors and save time whilst making it easier for audits and management. They have been around for a while but this is the year they become a well known term used in organisations. This interconnected approach ensures seamless communication across systems, enhancing overall efficiency. We see this as another strong trend for Business Process Management in 2024.
4. BPM and GRC Convergence for Compliance
The harmonisation of BPM with Governance, Risk & Compliance (GRC) frameworks continues to be a vital component for the future success of businesses. It ensures the resilience of organisations and also brings many strategic advantages – including regulatory adherence, reduced risks, more visibility and control and data informed decision making. Again this is by no means a new concept but now is becoming more user friendly and accessible to every one, making it easier to do their jobs and understand their part in ensuring compliance. Using software that can provide informative dashboards and data at the click of a button will revolutionise the way companies approach their audit trail whilst providing insights that will help teams identify opportunities for improvement and potential issues.
5. Process Health and Embedding Continuous Process Improvement.
The vital importance of embedding Business Process Management into companies for long term sustainability will gather pace in 2024. Seeing the changes we can make personally by tracking our health and fitness means there is no reason these methods can’t be applied to long term success in Process Improvement. As organisations aim to develop process capture into fully integrated process libraries, the need to find ways to continuously update and engage with employees becomes more pressing. Businesses with successful process improvement initiatives will be those who are actively looking for software solutions that help drive process ownership and accountability, make processes more visible to teams and encourage consistency and optimisation of process management.
Exciting Top Trends in Business Process Management in 2024
In the fast-paced world of 2024, businesses are embracing transformative trends in BPM. AI’s generative capabilities, sustainability initiatives, API and integration strategies, the convergence of BPM with GRC frameworks and Process Health Initiatives are collectively reshaping how companies approach efficiency, compliance, and sustainability. As organisations strive to stay ahead, these trends underscore the importance of adopting innovative practices for a more agile and competitive future.
If you’d like to discover more about Skore can help you keep ahead in Business Process Management with our simple and effective Process Improvement Software Platform then get in touch with one of our team today.