What is iBPM?

When we think of a business process that not only follows a predefined workflow, but also adapts and improves itself in real time. This is the ability of Intelligent Business Process Management (iBPM) which is a smarter evolution of traditional Business Process Management (BPM).

At its core, iBPM is the combination of the structured methodology found in BPMS (Business Process Management Systems) with enhanced technologies such as artificial intelligence, digital twins and real-time data analytics. This allows businesses to move beyond static workflows into dynamic business processes that sense changing conditions, predict future outcomes and engender more intelligent decisions.

As industries become more complex and even more competitive, iBPM provides a way to democratize the business process while remaining nimble. In this article, we shall look at what, how and why iBPM is changing the way businesses function today.

How is iBPM Different from BPM?

While typical BPM (Business Process Management) is concerned with the design, execution, and improvement of business processes, iBPM incorporates intelligent characteristics and adaptability in its processes. The movement from BPM to iBPM reflects the increased need for processes that can change dynamically in real time, and in response to complex business challenges.

Intelligent Business Process Management Systems (iBPMS) embedded with intelligent automation will be the technology foundation for iBPM, which merges the structure of BPMS with intelligent automation. They enable organizations to simulate their processes utilizing digital twins, forecast congestion points in processes, and make data-driven decisions automatically.As organizations become more data-driven, the demand for iBPM will continue to grow, providing them distinct market advantage through improved, fast, and flexible operations.

Major Characteristics of iBPM

What differentiates iBPM from traditional process management is its ability to combine automation and intelligence. This combination of intelligent technologies working together with adaptable processes, gives organizations the ability to quickly respond to changes, while still maintaining operational efficiency. The four basic elements of iBPM are:

1. Intelligent Automation and Decision-Making: BPM can apply iBPMS to enable automating complex processes while retaining a decision-making capability in the process. Automation, artificial intelligence, and machine learning will allow a process to identify patterns, project responses, and make data-informed decisions without human involvement.

2. Live Data Monitoring and Analytics: Traditional BPM applications are static environments; however, iBPM captures and analyzes live data coming from different sources. The insight captured in real-time allows organizations to monitor performance, identify inefficiencies, and adapt workflow as process changes occur.

3. Integration with New Technology Solutions: iBPM centers around its ability to connect with new technology solutions such as: Digital Twins – virtual representations of a physical exercise that allow opportunities to test and optimize before implementation. IoT – connect devices to capture and respond to data coming from the device in real time. AI and Machine Learning – use predictive modeling to apply advanced decision-making capabilities.

4. Enhanced Process Agility: Traditional BPM systems typically rely on human involvement to alter the workflows. By enabling dynamic, real-time changes triggered by real-time events, iBPM allows processes to stay agile and responsive to changes in business needs.

5. Enhanced Process Modeling with BPMN: In addition to enabling more intelligent transitions, iBPM uses BPMN (Business Process Model and Notation) for visualizing and designing workflow. iBPM enhances BPMN by including automated intelligence and perform simulations of scenarios in the iBPMS. Coupled with iBPM, automated intelligent BPMN can be used by businesses to speed up workflow implementations with iBPMS in agile, fast-moving environments.

Use Cases of iBPM Across Industries

Intelligent Business Process Management (iBPM) is changing the way industries work by allowing intelligent automation, real-time decision-making and predictive analytics. Here are some real-world examples of iBPMS and digital twins being used by businesses to increase efficiency and innovate across a number of industries:

Financial Services
In the financial industry, ensuring regulatory compliance and deterring fraud is paramount. iBPM can provide:

• Compliance Monitoring Automation: Continuous monitoring of, and adjustments to, updated regulations.
• Fraud Detection: Implementing AI-based analytics to provide a real-time assessment of odd or out-of-scope transactions to proactively ward off fraud.
• Digital Twin Simulation: Opportunity to develop new processes using simulation to avoid affecting live systems.

Example: A bank manages iBPMS to monitor transaction activity across clients, receive alerts, and report suspicious activity to regulators to ensure compliance while managing operational risks.

Healthcare
iBPM improves patient clinical and operational experiences by providing:

• Patient Journey Automation: Patient appointment scheduling, billing and insurance claim management, and electronic medical record management.
• Compliance Assurance: Systems that ensure your processes meet HIPAA and/or health regulations.
• Predictive Patient Care: Ability to respond to the patient in real-time through data to improve their treatment path.

Example: A hospital is using iBPMS to track patient admissions and automatically apply real-time data to prioritize emergency patients.

Manufacturing
Efficiency and precision are critical in manufacturing. iBPM provides the following opportunities for manufacturing improvement.

• Production Line Optimization: The use of digital twins, which helps model and optimize workflows.
• Predictive Maintenance: Problems associated with equipment failure can be identified before they impact production.
• Inventory Management: Supply chain operations are automated based upon forecasts of demand.

For example: A manufacturing company develops digital twins to model and test production lines to increase output efficiency while decreasing downtime.

Retail
Retailers utilize iBPM to provide customer experiences seamlessly while optimizing operations by:

• Customer Journey Mapping: Automating personalized marketing and customer support workflows.
• Inventory Control: Using real-time data to monitor inventories, stock levels, and automatically reorder products.
• Process Adaptability: Modifying processes based on customer behaviors and changes in the marketplace.

Example. An online retailer utilizes an iBPMS to track customer purchases and automatically change warehouse inventories based on product changes, ensuring product availability.

The Benefits of Implementing iBPM

Intelligent Business Process Management (iBPM) takes conventional business processes to the next level by blending automation with cutting-edge technologies such as artificial intelligence (AI), real-time analytics, and digital twins. There are numerous benefits of intelligent approaches to business processes for today’s organizations.

1. Real-time Decision Making: iBPM’s use of real-time data and predictive analytics provides businesses the advantage of making quicker, data-informed decisions. This very capability permits businesses to mitigate risks early enough, adapt quickly to changing conditions, and remain competitive.

2. Improved Compliance: iBPM consistently monitors compliance and produces automated reports, which can help ensure that businesses comply with all regulatory requirements. This reduces liability while improving audited readiness for businesses across all industries.

3. Better Customer Experiences: iBPM makes processes personal, providing faster service, reliable and accurate responses, and a seamless experience for the customer transition path.

4. Process Optimization: iBPM has tools like BPMN, and digital twins, that improve visual processes and test and improve process flows, thereby fostering a culture of continuous improvement.

Challenges in Implementing iBPM

While Intelligent Business Process Management (iBPM) provides substantial benefits, there are also challenges with implementing an iBPM solution that organizations will need to overcome in order to maximize its capabilities.

1. Complex System Integration: Creating a cohesive integration between iBPMS with legacy systems can be challenging given legacy technologies, various integrations, and the amount of data across various platforms. This can lead to increased costs of implementation and delayed time to market.

2. High Initial Investment: Investment in iBPM requires a burden of expenditures for advanced technologies such as artificial intelligence (AI), digital twins, and improved infrastructure. The organization should keep in mind, however, the long-term value of the project as well as the initial expenses.

3. Resistance to Change Management: Employees will inherently resist adopting new business processes because of the perception of a job threat and unfamiliar technology. Resistance will occur without proper training with the iBPM solution, acclimation processes, and communication to create support of the new roadmap, allocation of users, and the utilization of the solution.

4. Management of Process Complexity: As the processes become smart and automated, processes become harder to manage and monitor. Regular audits and use of digital twins can help keep processes optimized and avoid complexities of processes becoming more complicated than necessary.