Magic Quadrant For Intelligent Business Process Management Suites
Intelligent Business Process Management Suites (iBPMS) are software platforms that automate and streamline complex organizational processes. These processes can be related to any business activity and can involve multiple departments and stakeholders. iBPMS platforms use advanced technologies such as artificial intelligence, machine learning, and robotic process automation to orchestrate and optimize these processes. Magic Quadrant is a research methodology developed by Gartner Inc. to evaluate the technology and service providers in a specific market. In this article, we will discuss the Magic Quadrant for Intelligent Business Process Management Suites and its implications for the industry.
The Four Quadrants of Magic Quadrant
Magic Quadrant divides the technology and service providers into four quadrants based on two parameters: Ability to Execute and Completeness of Vision. Ability to Execute represents how well a provider can meet the current needs of the market and execute its plans. Completeness of Vision represents how well a provider understands the market trends and can anticipate and respond to the future needs of the market. The four quadrants are:
- Niche Players: Providers with limited ability to execute and completeness of vision.
- Visionaries: Providers with high completeness of vision but limited ability to execute.
- Challengers: Providers with high ability to execute but limited completeness of vision.
- Leaders: Providers with high ability to execute and completeness of vision.
The Magic Quadrant for Intelligent Business Process Management Suites
The Magic Quadrant for iBPMS evaluates the technology and service providers in the iBPMS market based on their ability to execute and completeness of vision. The providers that are evaluated in the Magic Quadrant are those that have a broad range of functionalities, have a sizable customer base, and have the ability to deliver their solutions globally.
The latest Magic Quadrant for iBPMS was published by Gartner Inc. in November 2020. According to the report, the iBPMS market is growing at a steady pace and is expected to continue to grow in the coming years. The report also highlights that the COVID-19 pandemic has accelerated the adoption of iBPMS platforms as organizations need to automate and optimize their processes to survive and thrive in the current environment.
The Leaders in the Magic Quadrant for Intelligent Business Process Management Suites
The Leaders quadrant in the Magic Quadrant for iBPMS is the most coveted quadrant as it represents the providers that have both the ability to execute and completeness of vision. According to the latest Magic Quadrant, the following providers are the Leaders in the iBPMS market:
- IBM
- Pegasystems
- Appian
- Software AG
- BPM'Online
These providers have a strong presence in the market, have a broad range of functionalities, and have a proven track record of delivering their solutions globally. They also have a clear roadmap for the future and are investing in advanced technologies such as artificial intelligence and machine learning to enhance their offerings.
The Challengers, Visionaries, and Niche Players in the Magic Quadrant for Intelligent Business Process Management Suites
The Challengers in the Magic Quadrant for iBPMS have a high ability to execute but limited completeness of vision. The Visionaries have a high completeness of vision but limited ability to execute. The Niche Players have limited ability to execute and completeness of vision. According to the latest Magic Quadrant, the following providers are the Challengers, Visionaries, and Niche Players in the iBPMS market:
- Challengers: Salesforce, Newgen Software, Bizagi
- Visionaries: K2, AuraPortal, AgilePoint
- Niche Players: TIBCO Software, Nintex, Bonitasoft, Kofax, Creatio, Red Hat, AuraQuantic, Intalio
These providers have their strengths and weaknesses and cater to specific market segments. Some of them have a strong presence in certain regions or industries, while others have a niche focus on specific functionalities.
Conclusion
The Magic Quadrant for Intelligent Business Process Management Suites provides a comprehensive evaluation of the technology and service providers in the iBPMS market. The Leaders quadrant represents the providers that have a strong presence in the market, have a broad range of functionalities, and have a proven track record of delivering their solutions globally. The Challengers, Visionaries, and Niche Players have their strengths and weaknesses and cater to specific market segments. Organizations that are looking to adopt iBPMS platforms should evaluate the providers based on their specific needs and requirements.