In the last 5 years, there has been a surge in the number
of firms offering advanced BPM software platforms. Though there are many new
entrants, the popular places are still firmly held by the older vendors. Gartner
and Forrester, in the market for nearly 10 years, is still one of the leading
providers of enterprise-based BPM software solutions. Companies like this have
a firm hold in the lion’s share of the market for software solutions.
If we take a deeper look into the market conditions, we
can try to identify the reason for such a trend. The reasons are:
Play it safe
Most enterprises want to play it safe by going back to
vendors who have been in the market for nearly a decade. Plus, they feel that
if they are going to the leaders in the market, there is no chance that their
investment will fail. They believe that if the established BPM software worked
for one firm, it will work for their company too. This idea is flawed, because
the operations and processes of each company is unique. What works for one
company may not work for another. Moreover, the emphasis here should be on
technology rather than reputation, which is not happening. This could be the
reason for the failure of so many BPM projects.
Go to a big company
for ensured results
This is another misconception among firms availing
software solutions. They feel that if they approach a bigger company, they can
be assured of better results. However, this is not the fact. Old companies
generally use traditional methods and conventional technologies built years
ago. These tools may not be able to compete with the advanced tools available
in the market. Smaller and newer players focus on using advanced technologies
and tools to provide lightweight and scalable software solutions.
Big BPM Software Vendors have Marketing Dollars to Spend
Bigger software vendors have more money to spend
As the traditionally strong companies have been in the
position for long, clients believe that they will spend more on developing new
products and tools. The fact is that newer entrants focus more on continuous
and innovative development.
Are you still aren’t convinced that you should look
beyond traditional industry leaders when it comes to availing BPM software
solutions?
Modern software vendors have an edge over the traditional
players. First, is that they have better learning and expertise regarding the
latest developments in technology. So, they can effectively leverage modern
tools to build lightweight and scalable product architectures rich in features
and capabilities.
Secondly, modern BPM vendors are more open to using latest
technological trends such as social, mobile, cloud, and more to enhance their
product performance.
New market entrants like iLeap are committed towards
providing customized and innovative solutions for their clients. Each project
is important for them, and they will do their best to ensure it is successful.
Plus, each client gets uninterrupted attention and access to the latest tools
and technologies.
Older firms may charge a huge fees simply because their
place in the market demands them to do so. Newer software platform solution
providers are under no such obligation. They can work the budget around your requirements
and come up with innovative solutions to help you save money in the long run. Moreover,
as your investment is relatively less, you don’t have to panic about failure,
in case things don’t work out fine.
The final line is that modern BPM software vendors are
definitely worth your investment. They not only design and create the platform
customized to your specific business needs and goals, but also test before
giving you the final product.
