In the digital transformation space, the year 2020 favored the early adopters. Businesses that had digital transformation strategies in place were the ones that handled the pandemic better, be it remote work or handling a surge in customer demand. According to Forrester’s 2021 prediction, 85% of the companies that haven’t prioritized digital transformation will focus on doing it.

This has underlined a significant aspect toward tech advancement: to be rooted in legacy systems that were once successful may not be ideal in this day and age. The focus on business growth and the necessity to keep up with the competition while being compliant with the regulatory standards has paved the way for innovative thinking. Enterprises should start incorporating digital technologies in their everyday operations to improve efficiency, time-to-market, and customer experience.

RPA and BPM: Accelerating Digital Transformation

Among many technologies, business process management (BPM) has been integral to digital transformation over several years. BPM solutions focus on optimizing business processes so that they are streamlined and efficient.

In recent years, robotic process automation (RPA) is growing in popularity and adoption. According to Grand View Research, the global RPA market is expected to grow from $1.40 billion (2019) to $11 billion in 2027. In simplistic terms, RPA automates processes through software bots; the bots perform mundane, repetitive tasks and free the staff from the burden of performing boring and low-value tasks. However, the technology behind RPA aims at automating a process rather than process improvement like BPM.

Also Read: 

What is Robotic Process Automation and How it can benefit your enterprise?

How can Business Process Management Help your enterprise?

 

The Difference between BPM and RPA

Before choosing between RPA technologies or BPM solutions, it’s imperative to understand the difference between them.

BPM

RPA

Reshapes end-to-end business processes and identifies improvement areas

Software bots use the user interface to perform rote, repetitive tasks according to predefined rules.

Focuses on an in-depth overhaul of a process and works toward a structurally sound process

RPA is more of a surface-level fix to improve efficiency. The bots mimic human actions.

Improves efficiency and productivity by streamlining business processes.

Digital workers save time by performing tasks with 100% accuracy.

Eliminates bottlenecks and makes processes faster

Does not address the inefficiencies of the process

High and long-term returns

Quick and immediate payback

A BPM solution is cut out to handle exceptions

Perform if-then rules-based tasks efficiently

Since the technology transforms the process itself, it takes time to develop and implement.

The digital workers can be deployed and scaled in a very short time.

 

BPM or RPA?

These two technologies can complement each other so well. Though BPM and RPA are distinct technologies, they can be a strong force when combined in an organization because of the shared end goal: improving productivity and performance. You can streamline the entire order-to-cash cycle at your organization and deploy software bots to automate invoice generation entering customer details.

 

An Ideal BPM Use Case

Let’s take a look at implementing just RPA in your organization. If compiling monthly reporting takes time, it can be absorbed by the bots; they can speed up the process and perform it with zero errors. However, the inherent bottlenecks within the process can be streamlined with BPM solutions. 

Related case study: How Vuram helped 300000 users benefit form a smarter, faster banking experience with process automation?

 

An Ideal RPA use case

Let’s look at another example of workflow automation; in an optimized workflow, if a particular that involves pulling up customer data from multiple sources is taking time, it can be expedited by the digital workers. The time spent on multiple mouse clicks can be saved by deploying bots. Additionally, collating customer data is a high-frequency task which makes it ideal for RPA implementation.

Further reading: 

Accelerating digital transformation: How RPA and BPM work better together?

How RPA & BPM can elevate remote working experience?

Taking the debate a step further, hyperautomation one of Gartner’s top Technology trends for the year 2020, combines RPA and BPM along with artificial intelligence, machine learning, process mining to automate multiple end-to-end business processes at enterprises.

Related Case study: How Vuram’s hyperautomation stack was used to achieve 85% automation in end-to-end invoice processing?

Be it automation or hyperautomation, maintaining the status quo should no longer be the goal. It’s time to think about which digital transformation strategies work well for your business and start implementing them. If you would like to know more about RPA or BPM, experts at Vuram are always available. We have 10+ years of experience in the BPM space, and our 50+ RPA experts can provide you with a consultation. If you are looking for BPM services or RPA, please write to ask@vuram.com for more information.

You can also read:

RPA’s role in the pandemic world

5 Steps to ensure smooth integration of RPA into your workforce

 

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