87% of businesses do not deliver on their yearly strategic goals
Gartner took the topic “Strategic BPM – positioning process management as an enabler of strategy execution” as a theme for its US BPM Summit last month. We have always defined BPM as “the management discipline that transfers strategy into execution – at pace with certainty” – so it was interesting to watch this topic unfold.
Two statistics stood out; firstly that only 13% of businesses reach their strategic goals, suggesting a widespread need for a more systematic and effective approach to strategy execution, and secondly that just 1% of organizations have business processes established which are ready to realize the full potential of digitalization.
Digitalization was a big topic with one keynote speaker describing the role people can play in the digital transformation as “Humanistic Digitalization”. It’s no surprise that digitalization is a major concern for so many organizations but unsettling how few have BPM measures in place to manage this seismic change.
Have CEOs failed to realize the full potential of BPM to implement change by executing strategy though both people and IT? Digitalization is creating a new normal of constant change so perhaps now is the time for a period of BPM enlightenment.
Other topics covered at the conference included:
▪ Modernize, reimagine and digitalize processes to improve business performance
▪ Improve the customer experience with new process management techniques
▪ Communicate and measure the business value of BPM initiatives
▪ Drive organizational change and adoption of process changes
▪ Overcome organizational and cultural barriers to change
▪ Enable operational intelligence and smarter processes
▪ Identify skills and talent needed for transforming to digital business
▪ Establish process management as an ongoing program for improving enterprise business outcomes
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