Businesses plan process spending spree

Process improvement will be a key focus and investment area for businesses over the next 12 months. That’s according to the PEX Report 2024/25, which examines the results of a recent survey of almost 200 professionals. The report paints a comprehensive picture of the current operational excellence (OPEX) and business transformation environment, as well as the role processes play in today’s landscape.

More than a third of respondents (34 percent) are prioritizing end-to-end process architecture to support OPEX and transformation in the coming year, with process modeling/documentation (34 percent) and customer-centric process management (30 percent) on the agenda too. This correlates with spending ambitions; 22 percent of companies are looking to invest in business process management (BPM), followed by process excellence consultancy options and process modeling/mapping tools, both cited by 20 percent of respondents.

Business processes in the spotlight

Process intelligence investment is on the horizon for 16 percent of businesses, with process mining (15 percent), robotic process automation (RPA) (14 percent) and intelligent document processing (IDP) (11 percent) also relatively common.

The survey highlights a back-to-basics approach, where organizations are solidifying their process-focused, foundational core, says Debashis Sarkar, managing partner at Proliferator Advisory & Consulting and PEX Network Advisory Board member. “Process excellence is “fundamental for success in today’s digital landscape,” with the survey underscoring the importance of a robust process foundation for achieving strategic objectives, he adds.

As organizations invest in transformation and technologies such as artificial intelligence (AI), it’s key that they consider their process foundations and how they build on them, agrees Stephen Donne, director of transformation at The Nottingham. “Optimizing processes for colleagues and customers before embarking on a digital transformation will always ensure a smooth delivery and the very best outcomes for all.

BPM central to process excellence

BPM is at the core of process improvement and transformation, providing a framework for organizational change and operational efficiency, says Marc Stromberg, co-founder and VP sales international at GBTEC. “Today, BPM is more than just process mapping; it integrates AI-driven process analysis and easy-to-implement workflow automation through advanced software,” Stromberg adds.

Ekaterina 'Katie' Curry, Millennial Specialty Insurance, and Donald Kuk, formerly of BNY Mellon, discuss using BPM and automation

AI-powered BPM solutions can craft detailed process landscapes, eliminating the need for manual mapping efforts. What’s more, AI assistants can act as strategic advisors, offering real-time, personalized recommendations for ongoing process improvement. “By embracing advanced BPM strategies and leveraging new technologies, organizations can transform their processes, drive continuous improvement and ultimately achieve sustained success,” Stromberg says.

READ MORE PEX REPORT 2024/25 HIGHLIGHTS

• Change management integral to OPEX & business transformation
• Half of businesses deploy enterprise-wide OPEX & transformation
• Cost, budget limits biggest challenges of OPEX & business transformation