No wonder it was recently estimated that over 65% of well-formulated strategies failed due to poor execution.Ĭompanies will only achieve BPM’s full potential when it is treated as a management discipline (not just a tool set). Why has there been so much waste? Is it because there’s just too much focus on departmental issues? Maybe launching too many projects, failing to share a common view on priorities, and a disproportionate emphasis on cost reduction are also some of the culprits? Strong departmental silos can produce a lack of agreement on priorities across functional lines.
While two-thirds of businesses recognized that their company must digitize by 2020 in order to stay competitive, a number of world class companies such as GE, Ford and others have invested heavily in digital initiatives, only to find that 70% of their investments was wasted on failed programs. Granted, digital transformation is challenging.
Some industry observers have argued that process is sizzling, while others have pointed out that for BPM to achieve a renaissance it will require greater scale, flexibility, and collaboration than what was previously the norm.īPM – when deployed as a management discipline – can create the needed context to effectively communicate strategic objectives and plans with middle management and employees and improve the odds of success with digital business. Business process management (BPM) has been quietly undergoing resurgence as organizations gradually recognize the central role of process in digital transformation.
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