A new untapped market for Process Management

Filed in archive Market Overview on September 21, 2007

There are three typical strategies for increasing profitability of a company: (1) To increase the sales of the same product in the existing market (Usually by taking share of competitors) (2) Selling to new markets (3) Leverage existing capabilities to create markets.

Apparently there exist a great opportunity for solution providers of Business Process Management softwares to go for the third option. Forrester Researh recently published a report on the BPM market overview and highlighted some of the insights from their ongoing research.




According to the report, the players in the BPM industry now find that they've been defining their own market too narrowly. Not only do enterprises need to optimize their business processes, they also want to optimize their business results. As TIBCO, a BPM software vendor, recently demonstrated by buying Spotfire - a small but visionary business intelligence (BI) vendor - the next strategic move for organizations seeking business optimization will be to combine BI and BPM for visualizing process metrics and business results together and, even more importantly, to turn transactions into decisions.

Forrester experts believe that if BI vendors don't put higher emphasis on this very real business optimization trend soon, they'll be outflanked by BPM vendors that are busy reinventing BI and moving aggressively into the emerging business optimization market. What do you think