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Business Process Management: Simply a buzz phrase?

Business process management (BPM) is a management approach focused on aligning all aspects of an organization with the wants and needs of clients. It is a Holistic Management approach that promotes business effectiveness and efficiency while striving for innovation, flexibility, and integration with technology. Business process management attempts to improve processes continuously. It could therefore be described as a “process optimization process.” It is argued that BPM enables organizations to be more efficient, more effective and more capable of change than a functionally focused, traditional hierarchical management approach. (wikipedia)

By definition it would appear to be an essential part of the future of any business. However,  last month’s announcement that Progress Software acquired Savvion for $49million on the back of the previous month’s acquisition of Lombardi by IBM would appear to mark a turning point for BMP.

 
Savvion and Lombardi were 2 of the 4 vendors at the forefront of BPM.

IBM and Progress have obviously identified the potential in this market and have taken advantage of the slower economy to take a large chuck of it for what will be considered at some point in the future, not a lot of money.
BPM is regarded by most to be a key driver in the future of Business & Technology and as Business & Technology continues to merge closer and closer it will only become more and more important.  It is far from just a buzz phrase!