Why Business Analytics and Business Process Management Drive Greater Business Agility
Shaku Selvakumar 060001XT47 email@example.com | | Tags:  ibmimpact bizagility bpm cio analytics business_process_manageme...
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Contributed by Trent Shupe
In today’s dynamic market environment, agility separates the most successful businesses from those that simply get by. The networks that make up these agile businesses—networks of employees, partners, functions, customers and suppliers—must constantly adjust to rapidly accelerating change, both out in the marketplace and within the business itself. The business ecosystem is filled with examples of accelerating change and growing complexity. Advances in technology lower the barriers to entry, resulting in increased competition. Global labor pools are becoming increasingly available, at changing costs. Capital markets are constantly restructuring. And new economic powers—such as Brazil, Russia, India and China—are emerging.
According to a 2010 Gartner survey, process improvement is the CIO’s single most important priority, for five years in a row. In order to stay ahead of the market, and still respond to customers’ ever-changing needs, businesses must foster a dynamic business network, including integrated processes, service orientation and collaboration. With a dynamic network in place, business becomes truly agile, capable of responding to change with unprecedented success.
Traditional business models have changed. Today’s business isn’t a single entity—it’s a network of relationships between employees, functions, customers, suppliers and partners.
These external connections are just as important as the ones inside the business and, in fact, are becoming more important. In a recent survey of business executives, 79 percent said that they expect the number of collaborative relationships they have with third parties to increase, and 87 percent of CIOs think their organization will be more collaborative in the next five years. As more functions move outside the walls of businesses, the distinction between external and internal members of the business network is disappearing, and companies must look to maximize the value of interactions throughout their networks. Even more challenging is the fact that this broad business network is anything but static. Furthermore, the need for deep Business Intelligence (BI) is imperative: people within the dynamic network must be able to access relevant information and data, and act on it. An IBM CIO Study shows that organizations which make the relevant data available to the right users are 61 percent more likely to be successful high growth companies. Yet CIOs struggle with this business imperative. Nearly one in three business leaders still make decisions without access to relevant and trusted data, and users spend close to 20 hours per week searching for data.
So how do organizations become agile enough to proactively respond to all this change? They require processes, analytics and structures that give them real-time situational awareness into occurrences both inside and outside the organization— and they must possess the ability to quickly act and respond to these occurrences efficiently to drive the best business outcome.
IBM helps organizations confront these challenges with a combination of industry leading Business Process Management and Business Analytics technologies. The combination of these technologies can help CIOs raise the ROI of IT investments, make innovation real by leveraging the latest technology and position their companies for growth in this flat world.
To learn more about how you can leverage these technologies that enable agility and position your organization for growth, please visit the following resources.
Download the Whitepaper Unleash the Power of BPM and Business Analytics for Smarter Business Outcomes
Attend Unleash the Power of BPM and Business Analytics for Smarter Business Outcomes Webcast on November 18 at Noon Eastern.
Speakers: Kramer Reeves, Director of Marketing, WebSphere and Harriet Fryman, Product Marketing and GTM Strategy, IBM Cognos for more details.
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