What is a BPM tool?
Business Process Management is the management of a company’s business process. It involves enhancing efficiency, setting procedures, identifying improvement areas, and optimizing execution. BPM tools can be a great asset to your company.
BPM tools improve customer service by ensuring that every consumer has the same experience regardless of whether they are contacting you or filing support requests. You can also cut costs by identifying duplicate activities and then eliminating them from your process. As shown in the following statistics, there is a growing market for business management tools.
BPM Tools Market Size
If your company is thinking about implementing a Business Process Management Solution, here are some facts to consider:
- The market for business process management was valued at USD 10.64billion in 2020. This market is growing because of the increasing demand from enterprises to streamline corporate processes in order to achieve operational excellence, customer satisfaction, flexibility, productivity, and profitability across multiple business domains.
- Market growth is expected to be 12.0% between 2021-2028. It will grow from USD 11.84 billion to USD 26.18 trillion in 2021.
- BPM projects are proving to be a success for clients who use them. They have seen productivity gains of 30-50% for back-office workers and 15-30% for knowledge workers.
- A review of customer BPM experiences revealed that 80% of enterprises that implement BPM initiatives will see an internal rate of return of over 15%.
- Business process management (BPM), however, is one of the most difficult responsibilities that a manager can face. It is possible to wonder how to plan, implement, monitor, optimize, and improve business processes that produce higher returns than those already in place.
There are many BPM tools available on the market, including cloud-based workflow solutions and business software suites.
Top 10 Business Process Management Tools
Nanonets can be used by enterprises to automate manual tasks. It is intuitive, easy-to-use and non-code BPM software. 1000+ companies use Nanonets to automate manual business processes. Nanonets’ mission is to automate manual entry processes, accelerate business processes, and not compromise data security.
You can also automate every process, including approval and validation, without having to write a single line code. It also has an OCR API that can identify any type of document, handwritten notes, and blurry scanned images. This allows you to convert them into text with >95% accuracy. Pre-existing templates can be used or you can create your own within 15 minutes. Automated workflows allow you to collect, digitize and validate documents, then extract, approve, and verify them on the move. Nanonets are also compatible with any business software that has an API integration or Zapier.
Below are some of the amazing features that make Nanonets an excellent choice for business process automation.
- Intelligent Data Capture
- Automated Workflows
- Real-time Dashboards
- Cloud & On-Premise hosting options
- Templates & Custom Models
- We are unable to handle high volumes (our team is working on it!)
- Better table capture UI is possible
Monday offers specialized BPM tools to provide industry-specific solutions in various industries. These tools can be used for project management, marketing, sales, customer relationship management, and customer relationship management. They also offer remote work, software development, and create jobs.
Monday’s project management tool allows users to manage campaigns, organize activities and evaluate results all from one interface. The automation platform can reduce repetitive labor.
- Simple to use interface
- This product is suitable for all businesses
- For an easy start, use process templates
- Simple layout
- BPM software is less expensive than traditional.
- There is less customization than other BPM tools on the market.
- Xero integration is unavailable
- There is no live chat available with customer support
- Sometimes, Google Drive integration does not work flawlessly
- Every task dependency requires dates
- Word Wrap isn’t available, which can lead to messy results
- It would be great to have more tracking options
Pipefy allows citizen developers to design scalable, secure, and efficient business processes that can be used by H.R., Finance, and other organizations. Drag-and-drop U.I. allows you to quickly design and modify complete business processes. Without writing a line of code.
- Amazing organizational templates
- Stakeholders receive real-time notifications
- Easy Personalization
- Guides for starting a business are a good idea
- It is simple to use
- Analytics and reporting are not intuitive
- Mobile Apps are quirky
- It is difficult to see comments on cards
- The interface is not user-friendly
- You can also customize the product as you wish.
- Average customer service
- Integrations with dashboards are not always easy to use.
Pega allows the development of enterprise-grade, scalable CRM, Robotic Process Automation, Business Process Management (BPM), Case Management, and artificial intelligence (A.I.). Applications on one platform.
The manufacturer claims that the Pega Platform transforms business stakeholders into citizen developers. It provides a visual, no-code app creation experience, while professional developers can create apps in a low-code model-driven environment. Pega’s goal is to maximize corporate productivity, reusability, and scalability.
- Applications and capabilities that are robust
- An environment with low code
- Great mobile App
- To develop process applications, technical knowledge is required
- There are no templates
- BPM tools are more expensive than other BPM tools
- Reporting is not intuitive
- It is difficult to find help and support documentation
- Debugging tools can be difficult to use
- The integration UI can be improved
- Lacks Proficient Data Scrapping Skills
Hive Technology offers a project and process management tool that integrates with many popular apps for productivity, cloud storage, and communication. The machine learning (ML), the team at Hive can create new business use cases using custom models. Hive supports publishers and sell-side platforms with premium ad inventory. They can help develop diversion units and monetize contextual relevance to meet brand compatibility criteria.
Hive is a provider of corporate A.I. Hive offers cloud-based A.I. solutions that enable businesses to comprehend video, image, and text. The firm also offers comprehensive A.I. The firm also offers comprehensive A.I. services, including API-served pretrained A.I. Models and a range of corporate apps.
- Software that is flexible
- Time tracking
- Special Features
- Information Integration
- Project Flow Tracking
- There are no process templates
- You may need to purchase custom features that will increase the price
- No Mobile App
- It is not a user-friendly design
- Multiple files cannot be attached together to a project request
Appian is a software platform for rapid software development, that combines full-stack and enterprise low-code automation to quickly create business apps. Appian can help improve customer experience, increase operational excellence, streamline global risk and compliance, and streamline global risk.
Appian provides a development environment to develop corporate software applications. Appian can be used to develop software applications for intelligent business processes such as dynamic case management (DCM), digital process automation (DPA), robotics process automation (RPA), and low-code development.
- Complex capabilities
- It is easy to create workflows
- Intelligent case management
- Digital processes can be created using a feature-rich platform
- Platform with low code
- It takes a long time to set up
- Software that is not intuitive
- High cost
- Reporting features are limited
- It is difficult to integrate
- Version management is difficult
Also read: 7 Best Change Management Tools for Success
Signavio, a robust platform and BPM Suite that facilitates the transformation of all your processes using the right tools is highly recommended. The Business Transformation Suite provides real-time alerts and guidance for the entire reorganization process. The platform’s all-in-one functionality is extremely configurable, with many useful features to optimize process documentation, analysis, and automation.
- Data mapping made easy
- Reasonable costs
- Templates for professional reporting
- Integration of connectivity is easy
- There is no Workflow feature
- Simulation results are poor
- Sometimes support can take several months
- Reporting functions are limited
- Complex business processes are impossible to accommodate
- There is no user community
8. Process Street
With the Process Street workflow software, You can easily create procedural documents using keyboard shortcuts, drag and drop capabilities, and simple U.I.It is easy to quickly create workflows, implement processes, and then distribute them to all the relevant stakeholders.
Conditional logic adapts to the various conditions of your team to enhance your processes. You can also expedite approval and connect more than a thousand applications to Process Street, making sure that Process Street is compatible with your current environment.
- Multiple Templates
- It is easy to track and record processes
- Easy dashboards give an overview
- It is easy to modify checklists
- There are not enough tools to make editing templates simple.
- The reporting tool is not sophisticated
- Complex conditional programming
- Variables are required to create complex and customized experiences
- Software is not easy to use
- Incapable to grant permissions for tasks and processes
9. Kissflow Workflow
Kissflows is a single BPM platform that allows you to optimize, manage and monitor all aspects of your work regardless of whether you work on a project or task management.
The software is a smart blend of low-code project management tools and process automation tools. This allows for sufficient customization options without the need to have in-depth programming knowledge. Kissflow also offers a variety of solutions that can be used to assist H.R. and procurement as well as educational institutions with digitizing their entire activities.
- Drag-and-Drop Workflow Creator
- High-Effective Forms
- Facilitates Master-Detail and Parent-Child types
- Monitoring Workflow Status
- Automated Incident Management
- This streamlines the approval process for invoices.
- Individuals are held responsible for their purchases
- Exporting personal emails to reports is difficult
- Slow response to technical issues
- Inability to access past purchase orders for review or cleaning away
- A better U.I. necessary
- App users need to have a better experience
- When creating a process, there is no copy/paste feature
- It does not work with Oracle Cloud CRM
- If it is a mandatory field, you will not be able to skip any parts
- Sometimes displays error messages
- Changes are difficult to implement
- It is difficult to move
10. IBM Cloud Package
IBM Cloud Pak is a modular suite that combines hybrid cloud-optimized integrated apps to quickly address complex operational issues. It offers a variety of AI-powered automation capabilities, including content, capture, options, processes, and tasks. Customers can also use it as a flexible platform that allows them to start small and expand as their needs change.
RPA is claimed to help customers free up human workers, speed decision-making using operational information, automate key types of work across core operations, and provide transparency and confidence for multiparty processes. You can customize the system to fit your current investments. The vendor claims that the system has been able to help clients reduce their process completion time by 90%, customer wait times by 50%, reduce risk and redistribute thousands of hours to higher-value work.
- Built-in A.I. Built-in A.I. generated recommendations and performance dashboards
- Core software capabilities that are market-leading
- RPA and low-code tooling
- Modeling and process mining
- More OCR models are needed
- Software is more expensive than other software
- It requires a lot of training.
- Integration of M.Q. Integration of M.Q.
- It could be made more user-friendly
- Upgrades can be subject to significant downtime
- Old APIs
- Transfer data is difficult
- During peak hours, it can be slow
- Large volumes of work cannot be handled during peak hours
- Interface out of date
The image below will give you a quick overview of all the features and functions of the BPM tools. We recommend that you try all of the software listed to get a free trial and see results for your business process management tool.