According to Gartner, the worldwide market for business process management suites (BPMS) will exceed $1 billion in 2007 in total software revenues and will reach $2.6 billion by 2011 as globalisation, the increasing importance of the consumer and the rise of the Internet change the dynamics of business. This will lead to a renewed interest in the management of business process and BPMS in particular as enterprises are looking to use software to better coordinate their entire processes. BPMS will be among the fastest-growing software markets through 2011, exhibiting a compound annual growth rate (CAGR) of 24 percent in the period from 2006 to 2011.
BPM has evolved from former process management theories and practices, such as total quality management (TQM) and business process re-engineering (BPR), to become a management discipline that views business processes as assets that can be designed, reused and exploited in order to improve business agility and operational performance. "The focus on operational excellence is accelerating," said Janelle Hill, research vice president at Gartner. A survey conducted in the third quarter of 2006 by Gartner and Forbes showed that 45 percent of business executives have an expectation that Chief Information Officers (CIOs) will take more responsibility for managing business process change over the next five years.
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