PurposeThe objective of the work is to analyze the impact of the Internet of Things (IoT) concepts and associated technologies in the framework of organizations and the management of their processes and how event orientation, as well as the structure of said business processes, can play an important role in this new organizational model. The main contribution of this work is to present a conceptualization of the research, identify approaches and challenges that require further study, and as a result, a proposal for future research.Design/methodology/approachThe methodology comprises a qualitative analysis using secondary data. The approach relies on searches of scientific papers conducted in well-known databases, identifying research work around the IoT and Industry 4.0 applied to business process management. Based on the identified papers, the authors selected the most relevant and the latest publications, and categorized their contributions and findings based on open and selective coding. In total, the analysis is based on 95 papers that were selected and analyzed in depth.FindingsThe results of this research allow analyzing and ordering the existing contributions around Industry 4.0 and its impact on current organizations. The proposed conceptualization was derived from the analysis of the state of the research and identifies four categories: (1) improvements caused by Industry 4.0 and its impact on inter-organizational relations, (2) new architectural models and infrastructure of remote resources, their movement from the cloud to the edge and its effect on business processes, (3) context-aware concepts brought to business process management (BPM) linked to unstructured business processes and (4) complex event processing as a possible means for business processes sensitive to IoT signals.Practical implicationsThe construction of current software ecosystems is strongly affected by the variety of information sources that feed them, as well as their volume. In addition, business processes represent organizations internally and are challenged to transcend the limits of companies due to the mentioned changes in software ecosystems. Industry 4.0 in conjunction with BPM re-defines the business process management paradigm and leads them to acquire the dynamism and sensitivity to the context that they usually did not have, as well as force them to move toward distributed platforms.Originality/valueThis paper assesses the state of the art in Industry 4.0 and business process management. The area can be defined as the intersection of two bigger areas highly relevant for organizations; on the one hand, the management and execution of business processes; and on the other hand, new conceptual, technological and methodological challenges to information systems that have to become more sensitive to event processing and also have to consume a large volume of data permanently and ubiquitously.