TEC Helps Organizations with BPM Software Comparison and Selection
Enterprise software analyst firm Technology Evaluation Centers (TEC) recently launched its Business Process Management (BPM) Evaluation Center, helping project managers, consultants and decision makers compare the most qualified BPM systems based on their own, unique priorities.
Montreal, Canada (PRWEB) August 24, 2005 -- Software evaluation firm,
Technology Evaluation Centers (TEC) has created a business process management
(BPM) evaluation center to help companies during the challenging process of
selecting a BPM software solution.
Business process management (BPM) is
defined as a set of activities which organizations can implement to optimize
their business processes, or adapt them to new organizational needs.
Organizations use BPM to improve the effectiveness of their core operations by
coordinating interactions between systems, business processes, and human
interaction. According to the BPM Standards Group, core BPM processes include
financial and operational planning, consolidation and reporting, modeling,
analysis, and monitoring of key performance indicators (KPI) tied to
organizational strategy. (http://www.bpmstandardsgroup.org/resources.asp,
2004).
Research and analyst firms such as Technology Evaluation Centers
(TEC) (http://www.technologyevaluation.com/press) are forecasting
that BPM will be one of the most important business drivers of the near future.
TEC has tracked significant increases in customer demand for BPM selection
projects, with numbers growing seven-fold since 2004. Over the next year,
projections suggest that revenue in licensing for BPM will grow from $700.3
million (USD) in 2005 to $1,053.0 million (USD) through 2008.
“Because
of the centralization of organizations and the acquisition and mergers of large
enterprises, it will be extremely important for companies to have a horizontal,
integrated business process that matches the current needs, including the
government and regulatory compliance regulations”, according to Hans Mercx, BPM
analyst at TEC (http://www.technologyevaluation.com/press).
For
organizations seeking business process management (BPM) software, preparation is
key.
Before companies approach vendors for a request for proposal (RFP),
TEC suggests companies engage in an on-line comparison of the leading solutions
under consideration, in order to save time, money, and staffing resources during
the selection process.
The TEC BPM Evaluation Center (http://www.bpmevaluation.com/press) enables end users to match
their requirements to the functionality provided by a variety of BPM solutions.
Organizations can use the center to analyze vendors on approximately 600
criteria covering BPM functionality. Vendors presenting solutions for comparison
include BISIL, Chordiant Software, CommerceQuest, Datum International Limited,
DynaFlow Modeling and Workflow Solutions, Fuego, HandySoft, Ingenuus Software,
Insession Technologies, Metastorm, TIBCO Software, Ultimus, Vision Software, and
Whitehill Technologies. The TEC BPM Evaluation Center (http://www.bpmevaluation.com/press) covers a broad range of
features from process modeling, workflow engine, design and notification, event
triggers, escalation options, business rules and controls to security management
and process collaboration. Monitoring and analytics are also included in the
RFI.
Research by The Standish Group shows that 52.7 percent of IT
projects cost 189 percent of the original estimates. This represents $75 billion
(USD) yearly that is spent on failed IT projects in the United States alone
(2005). Organizations are losing billions of dollars each year because they
select the wrong hardware, middleware, and software, as a result of inadequate
vendor information and evaluation processes. Such losses are increasingly
apparent within price-sensitive, small and medium enterprises, which require
accurate IT information to be collected quickly and cost-effectively during
software evaluation processes.
According to TEC, selections for BPM, ERP,
ECM, CRM, or SCM solutions may fail to accomplish what customers want, because
customers did not begin their selection processes with a good understanding of
their requirements. TEC believes that problems arise when customers do not
prepare a proper request for information (RFI) to evaluate the pertinent
responses from their short listed vendors. However, TEC states that its
sophisticated means for performing requirements analysis will ease customers'
selection burdens.
About Technology Evaluation Centers Inc. (TEC)
Technology Evaluation Center (TEC) is a leading on-line source for
impartial technology and consulting evaluations. TEC has been aiding software
selection since 1993 to reduce the cost, risk, and time associated with software
selection. It has twenty-two on-line technology evaluation centers, ranging from
ERP, CRM, SCM, to business intelligence, that contain thousands of detailed
criteria on over 500 technology solutions. TEC receives over 1.5 million unique
visitors per month to its sites and millions of page views per month are
generated by a global audience of senior c-level and VP executives, technology
and functional managers, consultants, and IT professionals.
For more
information, see the company's web site http://www.technologyevaluation.com/press.
About the
Business Process Management Software Evaluation Center
The Business
Process Management Software (BPM) Evaluation Center (http://www.bpmevaluation.com/press) is a new on-line decision
support system featuring research on some of the more well-known firms in BPM.
The knowledge base consists of more then 600 criteria for analyzing business
process management solutions firms. For more information, see the web site at http://www.bpmevaluation.com/press.
Contact:
Lynne Brash, Coordinator, Media Relations
Technology Evaluation
Centers (TEC),
740 St. Maurice, 4th floor,
Montreal,
Quebec
Canada
H3C 1L5
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Source : http://www.prweb.com/releases/2005/8/prweb276277.htm