November 25, 2008
SAN JOSE, Calif., Nov. 25 -- Increasingly globalized and regulated markets are demanding an unprecedented level of business process agility, control and transparency as a direct result of the current economic crisis, according to Cordys, a global leader in next-generation business process management.
Jan Baan, chief executive officer and founder of Cordys, states: “It is becoming increasingly clear that enterprise application platforms such as ERP and CRM are not flexible enough to facilitate the rapid change in operations management required in the economic turmoil that has transformed the business landscape in recent months.”
“The collapse of large financial institutions and the problems faced by many other companies will result in more reorganizations, cost-cutting programs and mergers and acquisitions,” continued Baan. “At the same time, these companies realize that they need to innovate and adapt to the new situation extremely fast without being hampered by time-consuming and costly IT projects.”
Agile enterprises can adapt to change, market trends and evolving standards and regulatory requirements at a greatly reduced expense and time to market through the adoption of business process management solutions, according to Cordys. Indeed underlying every business is a set of processes that define how that business operates, how it generates revenue, and how it supports its customers, suppliers, and the like. How a business differentiates itself from its competitors is built into its unique business processes. Hence business processes become a strategic and critical asset for the company -- no more so than in the current economic climate.
A recent report from analyst firm Gartner states that the overall BPM market grew from $1.229 billion in 2006 to $1.692 billion in 2007. This has resulted in BPMS taking a larger share of the overall Application Infrastructure Market up from 9.8 percent in 2006 to 11.95 percent in 2007, an increase of 37.7 percent year on year. Cordys predicts that demand for its Business Operations Platform (BOP) will continue to grow as companies feel the effects of the current “credit crunch” and suffer as a result of inefficient, hard-to-manage processes.
Baan continued: “Companies are beginning to realize the business benefits of rethinking their operations and having an effective business process management strategy in place. As a result Cordys has seen a dramatic increase in business opportunities right across our field of operations.”
Cordys is a global provider of software for business process innovation. The industry-leading Cordys Business Operations Platform (BOP) consists of a complete suite for next-generation Business Process Management (BPMS), Business Activity Monitoring (BAM) and an open, integrated set of tools & technologies, including Composite Application Framework (CAF), Master Data Management (MDM) and a SOA Grid. The Cordys platform empowers customers to dramatically improve the speed of change, fundamentally altering the way they innovate their Business Operations to achieve a true customer-centric philosophy. Global 2000 companies worldwide have selected Cordys to achieve business performance improvements such as increased productivity, reduced time to market, higher security and faster response to ever-changing market demands. Headquartered in the Netherlands, Cordys is a global company with offices in the USA, the UK, Germany, China, India and Israel.
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