Yet more than four in five believe that business process management (BPM) tools will help them resist many of the pressures of the economic downturn, by driving both improved efficiencies and customer service through greater business agility. So finds a survey of senior business people attending a recent networking event hosted by leading rules-based BPM provider, Pegasystems.
Long-term, broadly-based impact
More than two-thirds of those questioned (67%) expect the credit crunch to last for the next 12-24 months. A further 20% are more pessimistic, anticipating the impact to be felt for more than two years, with only 13% confident of an economic turnaround within the next 12 months. So how will this impact be felt?
â¢ 88% expected technology investment to slow down as end-users make the most of what they already have in place;
â¢ At the same time, a similarly overwhelming 84% anticipated greater pressures on achieving rapid return on investment (RoI) and 79% expected increased pressure in driving price reductions in such IT investment;
â¢ Better news however is that fewer respondents anticipated a downturn in major project activity, with only 49% seeing a reduced likelihood of approving large implementations. âIt seems that in this area
at least the jury is still out, as enterprise businesses recognise the need to maintain competitiveness in ever-tougher markets,â says marketing director, Jeremy Payne.
In another key finding, the survey confirmed that more than four out of five (82%) of respondents believed that having a highly agile BPM solution in place would help businesses resist better the pressures of the credit crunch. âInterestingly, such confidence is based on their understanding that increasing business flexibility through the use of BPM can drive both internal operational efficiencies and superior customer delivery,â confirms Payne.
Reinforcing this, when asked which benefits of BPM delivery would be most valuable in resisting such financial pressures, 27% cited improved operational efficiencies as the most beneficial, followed by 22% citing cost savings. Nearly as important however was improved responsiveness to customer needs (19%) and improved ability to support customer growth also figured strongly (highlighted by 15%).
Of those respondent businesses with some form of BPM already in place, 22% have implemented a solution company-wide, with a further 62% in operations.
âThe survey reinforces Pegasystemsâ view that rules-based BPM in particular is especially well-placed to help businesses address these market pressures,â confirms Payne. âFurthermore, BPM projects can deliver rapid RoI and maximise IT investments by enabling business to build on and enhance rather than ârip and replaceâ legacy systems.
âMost importantly however, businesses today need to be able to react quickly in meeting changing customer and regulatory demands. In response, Pegasystemsâ rules-based approach provides unprecedented business agility for organisations to rapidly adapt and improve business processes â essential in the drive to attract and, most importantly, retain customers.