5 things a first-time entrepreneur needs to know when selecting a BPM software

This article lists five things that business owners need to consider when selecting a BPM solution. It will help anyone looking to buy a BPM solution.

1 Scope Of Process Management
The most important thing a first-time entrepreneur should consider before buying this type of software is the scope of his process management needs. In order to determine this, he will need to identify the most critical processes. Then he will need to separate them into the ones that can be automated and ones that cannot be automated. After these steps are done, he will need to determine scalability requirements. In order to determine them, he will have to take into consideration geographic deployment, the number of processes, and the number of locations where software will be utilized. Giving these factors enough consideration can boost company’s efficiency because the software can be customized to fit them.

Understanding of IT hardware already in use will also help the entrepreneur improve efficiency. But he will also need to write down both long-term and short-term business process needs. When doing any of the above, a first-time entrepreneur – as well as a seasoned one – must consult with both IT personnel and business executives. This way all members of the company’s team will enjoy new software, and their productivity will reach new heights.

2 Software Requirements
Software requirements is the second most important thing a first-time entrepreneur needs to know before purchasing this type of software. It is important to make a list of these requirements before looking at any software products because this way he can stay focused on essentials rather than unnecessary features that only add costs. This way the efficiency can be improved because the company’s personnel will not have to learn software processes that may be of little use to company’s bottom line. The best time to write down software requirements is right after determining the scope of process management needs. This way the software requirements are going to be aligned with the scalability of your business.

3 Understanding Of BPM Features
BPM features can be broken down into two groups: essential and advanced. To make an informed decision when choosing BPM solution, an entrepreneur has to understand both. Essential features include the abilities to: 1) design business process in a visual format; 2) execute business process through a scalable engine; 3) generate online forms that can be used in any stage of a process; 4) provide access to all the content; 5) allow accessibility on all platforms, including desktop, mobile, and tablets; 6) adapt to individuals’ work duties; 7) simulate the effect of process changes.

4 List Of Vendors
Another thing first-time entrepreneur needs to have is a list of Business Process Management software vendors. To create this list, an entrepreneur has to eliminate companies that are not true BPM suite vendors. Though lots of companies are claiming to be BPM suite providers, few are offering comprehensive BPM solutions. Most are selling content management software that has workflow tools. But these are not comprehensive BPM solutions. After an entrepreneur has eliminated these companies, he can look at other factors. These include BPM’s performance, reviews by people who used that software, and company’s market position. Another way to find reliable BPM providers is to look at market research. Butler, Gartner, and Forrester are some of the top market research companies. Their reports can help an entrepreneur make an informed decision. When reading their reports, pay close attention to profitability, strategic partnerships, and customer acquisition rate.

5 BPM Costs
Most BPM solutions are not expensive. However, their licensing costs are often expensive. Most of the time, the cost is calculated based on the number of units installed. Sometimes, it is calculated based on the number of years the company is planning to use that software. The average price of BPM solution ranges from $9,000 to $57,000 a year.

Robert Cordray
Robert Cordray
Robert Cordray is a former business consultant and entrepreneur with over 20 years of experience and a wide variety of knowledge in multiple areas of the industry. He currently resides in the Southern California area and spends his time helping consumers and business owners alike try to be successful. When he’s not reading or writing, he’s most likely with his beautiful wife and three children.

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