Great going! You have finally decided to automate your business. You have had enough with delays, errors and inconsistencies in data and failed deadlines. It is time your business grows as you want it to. Everyone is happy with the announcement. Then, the finance head of your organization asks "Great idea! How much will it cost, though?" Ouch! You forgot that detail, and a hurried research reveals nothing. There is no defined price chart available for any BPM software. How should you go forward now? Here, we try to help you figure out how to evaluate your BPM budget.
BPM software Pricing is not fixed
First thing that you should know is that BPM solution pricing is not fixed. There is no standardised pricing available for BPM softwares. Costing is dependent on various factors such as features and services incorporated in the BPM, support offered by the vendor, customization options available and lastly, brand value of vendor. As such, prices depend on what you need the BPM software for. Even ballpark estimates are very vague.
So how should you make a budget?
At this point, the first thing to do is evaluate what you need the BPM solution for? Ask yourself these questions:
- What is your budget?
- What are your goals regarding BPM?
- What are your requirements regarding features and services? Segregate these under 2 categories, 'must haves' and 'good to have'.
- What is the size of your business -big or small? Do you plan to automate just a few workflows, or does your long term vision include automating your complete organisation wide business process?
- How technically savvy is your IT team?
- What custom features will you need?
Once you have answered these questions, you have a document that lists your needs, requirements and how much you are willing to spend. Next step is to research available vendors and their BPM products. List the features of these BPMs, and identify which of them match your requirements. Make sure your requirement lists cover every aspect that you need or will need, because new requirements at the time of implementing the BPM will add to your budget. Now, create a Request for Proposal (RFP) or Request for Information (RFI) document for the vendors you have shortlisted. Use the response from vendors to analyse what gaps remain between what they are offering and what you need. With this analysis done, you can now choose what kind of BPM you need.
Which BPM Software to choose:
Once you have analysed your requirements and vendor offers, it is time to decide what kind of BPM option you should go for. Typically there are 2 types of BPM softwares that you can choose from as mentioned below:
- If you need a BPM product that can be used straight out of the box, you can choose Cloud based BPM solutions. These require no coding before using them and are great for workflow tracking, management and processing.
- On-Premise BPM solutions are configured to work based in your business premises. They offer a lot of customized features, added support and security. They are relatively costlier than Cloud based BPM options, and require some coding and configuring at the time of implementation.
Choose either of the options as per your need. IBISM offers both cloud based as well as On-Premise BPM products. We also offer individual, premade workflows. Our prices are standardised, without any hidden costs. Also, we offer enterprise level support to all clients, no matter what package they opt for. Choose as per your needs, and your budget. Contact us to know more about our pricing, or to solve any query regarding business process automation. Our helplines are available 24x7.
Published on Mar 23, 2018