The Business Process Management (BPM) market is growing
steadily and swiftly. In 2021 it was already valued at over $3 Billion, and that’s
expected to grow by another billion dollars in coming years. Why is it
expanding so quickly? Businesses across the spectrum are seeing the results BPM
is delivering to organizations, and they’re racing to stay ahead of the curve.
Business Process Management holds great potential for every department to standardize and optimize their processes, but sales in particular will be one of the major benefactors. Today, we’ll discuss what this process-driven approach means and why it’s so crucial for sales efficacy.
Basics of BPM
When we talk about Business
Process Management, what we’re really talking about is the modeling,
automation, optimization, and measurements that businesses apply to scale and consistently
improve their operations. BPM relies on workflows to standardize and easily
evolve processes to maximize efficiency and effectiveness. Adoption rates for
this technology are skyrocketing because of the benefits it provides across companies.
Some of the biggest benefits include:
- Decreased Expenses: According to a recent
report by BPTrends,
69% of businesses are leveraging BPM to reduce costs. BPM contributes to leaner
operations by lessening the need for additional labor and increasing the output
of existing teams.
- Business Agility: Because BPM is process-driven
instead of data-driven, it adapts easier to changing circumstances. When a
process shifts, the data adapts automatically to meet the new standards without
someone having to question that data’s relevance. The process drives how the
data is used and ensures only the appropriate information is applied.
- Standardization: Initiating
standardized processes helps teams prioritize their work and align their
efforts. When processes work well, companies can replicate them for other teams
or departments to utilize, keeping everyone tied into the same approach and
walking teams step-by-step through effective methodologies.
Management for Sales Efficacy
The structure that BPM solutions provide helps every facet
of business. From establishing streamlined customer service programs to enacting
repeatable, proactive marketing initiatives. But what is BPM bringing to the
table for sales? How are its uses changing the sales landscape? Why is it so
crucial for sales efficacy? There are a few reasons to consider.
Automating Repeatable Processes
Did you know automation can lead to a 30%
increase in closed sales? As sales teams work to finalize deals, they
repeat many of the same tasks. These repeatable processes are streamlined using
the automation of Business Process Management. BPM workflows keep sales on
track with the tasks that make sense for the current sales stage. Approvals for
product and quote discounts are automated to alert to the correct parties and help
finalize the sale sooner.
Triggered email alerts let sales know there’s a new lead
and, once that lead enters the defined process, the sales rep is guided to the
logical next step. Sales teams don’t have to waste time micro-managing the
process, so they can spend more of their time on productive tasks. In addition,
BPM is also a great way to onboard new sales reps more efficiently because they
can clearly see what the process is and how they’re expected to reach their
The Agility to Adapt
If the COVID-19 pandemic taught us anything, it’s that
customer demands can shift quickly and unexpectedly. Today’s business environment
is fast-moving, ever-evolving, and highly competitive. BPM allows businesses to
adjust operational processes that require tweaks and remove non-optimal
processes that are no longer relevant to the sales cycle. Because the process can
be viewed in detail at any stage, teams can gain immediate insight into how
they’re being applied and where they need to change. This gives them greater
agility to adapt and improve to meet the moment.
BPM standardizes cross-sell operations and guide sales reps
to engage their opportunities at the right moment, and with the right proposal.
Cross-sale opportunities can be assigned and sequenced in a specific order to eliminate
non-value tasks and keep the sales rep focused on his or her responsibilities towards
closing the sale.
Fostering Sales Transformation
Sales transformation is the process of updating operations that
significantly impact the sales process and the team’s ability to reach their
objectives. Business Process Management plays a major role in the success of
sales transformation initiatives by allowing teams to rapidly implement new
approaches and visualize their impact and effectiveness. BPM offers more than a
way to build a process. It provides an opportunity to reinvent how work is
performed to drive better outcomes.
Recreating What Works
Have a sales rep who outshines the rest? What do they do
differently? BPM offers a clear view of sales rep performance and an opportunity
to replicate and universally apply the process of a top-performing sales rep. It’s
another way to drive successful sales and easily pivot teams towards what’s
working instead of wasting time on inefficient, scattered approaches.
Tight Tie-ins with Marketing
Lead qualification and handoff are
crucial pieces of the sales puzzle. Using BPM to trigger intelligent, automated
lead processes is a huge advantage for sales reps and marketing teams alike.
Both parties have full visibility into the process and a complete understanding
of what’s expected. The process-driven approach prevents MQL to SQL transitions
from falling through the cracks and helps make clear distinctions between who is
responsible for which leads. That tight tie-in with marketing makes all the
difference when reps are trying to juggle leads and prioritize their most likely
Process Management technologies have uses across the spectrum of sales,
marketing, and services. Specifically for sales, the automation and structured
flow of operations cuts down on unnecessary work, makes processes more
adaptable and scalable, and reduces needless redundancies that waste time and
resources. BPM will only continue to boom, especially in a world where hybrid
work is becoming the new norm. Will your sales team be ready?