Gone are the days when businesses depend primarily on manual routine processes to work.
Processes like capturing data in black and white, posting letters, and long commutes for meetings, to mention but a few.
Fortunately, we are in an age of automation. Technological innovations are redefining how we play, work, and communicate.
Thanks to the Business Process Management (BPM) discipline, businesses can now systematize their work processes for the highest returns.
Before examining the various business process management statistics, let’s look at the meaning of BPM.
What is Business Process Management (BPM)
Gartner defined Business process management (BPM) as the discipline that uses various tools and methods to design, model, execute, monitor, and optimize business processes. In addition, it’s a process that brings organization to the behavior of people, systems, information, and things towards achieving the business goals.
The BPM discipline started getting traction after the pandemic. Because after the lockdown, people saw a greater need to automate their businesses so that closing their physical office doesn’t wreck their operations.
Surprisingly, what became a thing of recent has morphed into billion dollar industry and counting. Organizations are now hiring BPM experts to automate their processes and activities.
Ready to dive into some intriguing statistics about BPM’s current state and future? Then read on as I take you on an adventure.
Business Process Management market
- The global business process management market size was $10.64 billion in 2020 (Fortune Business Insights)
- The global business process management (BPM) market is projected to grow from $11.84 billion in 2021 to $26.18 billion in 2028 at a CAGR of 12.0% (Fortune Business Insights)
- The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period. The growing need to reduce operational costs and streamline business processes is expected to drive the adoption of BPM software and services. (GlobalNewsWire)
- According to a survey by Accenture Technology in 2020, 76% of the companies and executives believe in a need to reorganize the technology and business processes that bring people and technology in a human-centric manner. (Fortune Business Insights)
- The High Utilization of AI-equipped Business Process Management Market Solutions is the main catalyst of the BPM market growth. (GlobalNewsWire)
Business Process Management Statistics
- Only 4% of companies track and manage their processes (BpTrends)
- During the period 2021-2028, the market is expected to increase at a CAGR of 12.0% (GlobalNewsWire)
- BPM projects deliver 30-50% productivity gains (DronaHQ)
- BPM projects have an internal rate of return of more than 15% (SolutionsReview)
- BPM can improve customer satisfaction by 30% (Bptrends)
- CultureNext found that 78% of companies had a documented employee engagement strategy (Zentao)
- 52% of employees work at least one day a week from home (Zentao)
- Focusing after distraction takes 25 minutes. (SolutionsReview)
- Using BPM increases project success rate by 70% (Fortuneinsights)
- Structured onboarding programs increase new employee retention by 58% (Contract Recruiter)
Process Improvement Statistics
- Businesses prioritizing the customer experience are 60% more profitable than those that don’t. (SuperOffice)
- Businesses waste between 32% – 41% of their software budget on features or platforms they don’t need or use. Roughly $259 per desktop worldwide. (SuperOffice)
- Out of 20 companies surveyed, 55% had returns of $100,000 – $500,000 from business process management improvements made. (Process Excellence Network)
- ERP software can reduce operational costs by as much as 23% and administration costs by as much as 22%. (G2)
- Automating the onboarding process can save HR departments 50% or roughly $5,000 for every 30 employees hired. (GreenHouse)
- 54% of employees believe they can save 2 hours of work each day through automation. (WorkMarket)
- 72% of small business owners feel overwhelmed by roles and responsibilities (The Alternative Board)
- 63.3% of business owners state that it’s harder to keep employees than hire them, with 68.3% experiencing turnover in the last 12 months. (Zenefits)
- It takes 8 months for a new employee to reach maximum productivity levels (HBR)
- 62% of small business owners work more than 50 hours a week (HBR)
Business Operations Statistics
- Taco Bell went from losing money to being worth $1.98 billion in 30 years by re-engineering its core processes (Zenefits)
- Structured onboarding programs result in 58% more new employees staying with a company for more than three years (Super Office)
- 46% of companies see business processes primarily as a way of reducing costs. (BpTrends)
- Executives spend 16 hours a week on administrative work. (ServiceNow)
- 41% of stressed workers say stress leads to a loss in productivity. (ColonialLife)
- Employees waste up to 50% of their day managing menial data entry and management tasks. (ServiceNow)
- Bad data eats up between 20% – 30% of operating expenses for organizations on average. (PragmaticWorks)
- 60% – 73% of data within an enterprise goes unused by analytics. (Forrester)
- The number of software apps deployed across large firms increased by over 68% between 2015 – 2019, with companies using an average of 129 apps. (Okta)
- In 60% of jobs, one-third of the tasks required by employees could be automated. (Mckinsey)
Job Automation Statistics
- 57% of employers say that the main goal of automation is the augmentation of worker performance and productivity. (Mckinsey)
- By 2022, the total task hours completed by humans will drop by 13%. (BBCNews)
- About 33% of new jobs created in the United States are for occupations that did not exist or barely existed 25 years ago. (weForum)
- By the year 2022, more than 54% of workers will require significant re-skilling or upskilling. (weForum)
- It is estimated that automation can accelerate the productivity of the global economy by 1.4% of the global GDP annually. (Mckinsey)
- World Economic Forum says machines will create 58 million new jobs. (weForum)
- 14 million robots could exist in China, making it the highest country for manufacturing automation. (Forrester)
- The global medical robots market is expected to reach $12.6 billion by 2023.
- By the mid-2030s, up to 30% of jobs could be automatable. (PwC)
- Above 40% of workers with low levels of education will suffer displacement by 2030, compared to 10% of workers with high-level education. (PwC)
In Closing
Through the above statistical reports, it is evident that BPM and automation are here to stay. That said, adapting to these trends is the best way to increase your market share and win in the 21st century.
Doing things as it has been done is not suicidal but also an easy way to become extinct. Adopt, and thrive. We will keep updating these reports as we receive them, do well to hit the notification button below.
Sources
Fortune Business Insights Global News Wire DronaHQ SolutionsReview Zentao Contract Recruiter Super Office G2 GreenHouse Work Market The Alternative Board Zenefits HBR ServiceNow Colonial Life Pragmatic Works Mckinsey Okta WeForum PwC
