BPM market to triple

Research and Markets has added "Business process management (BPM) Market Opportunities, Strategies, and Forecasts, 2006 to 2012" to its offerings, reports Business Wire.

Among predictions made by the research firm is that the market - worth $1.065 billion in 2005 - is expected to more than triple to $3.8 billion by 2012. The services oriented architecture (SOA) market, worth $450 million in 2005, is expected to grow rapidly through 2012, reaching $3.2 billion.

BPM process and compliance market forecast analysis indicates that productivity improvement will continue to dominate markets throughout the forecast period.

IBM software partner Open Logic has grown its turnover by more than 400% since 2003, much of which it has attributed to its increased focus on service-oriented architecture (SOA) implementations, reports IT Week.

Open Logic claimed its focus on developing SOAs with IBM software, licences and services were the contributing factors to its growth.

MD Craig Smith said firm hopes to grow revenue by a further 100% over the next 12 months and develop a partner network through which to grow the company.

BPM and workflow provider, Ultimus, says that Sharjah Islamic Bank (SIB), an Islamic financial services institution, has chosen the Ultimus BPM Suite, reports Carolina NewsWire.

This forms part of its strategic goal to achieve greater agility, efficiency and process visibility. With the software in place, the bank hopes to foster a culture that encourages initiatives where employees are engaged in continuous improvement.

The bank`s information management and technology division uses the Ultimus BPM suite to automate high-volume internal business processes, such as employee requests for technology support, system access and Web services.