Persistence Market Research
Business Workflow Automation & Optimization market is growing at a steady growth rate due to increasing demand for streamlining business processes and workflows. This process helps in automating the paper based workflows and reducing the time consuming documentation. These business workflow automation & optimization solutions are easy to implement and transparent process. These business workflow automation & optimization solution helps in setting standards and helps in tracking performance of employees and business works.
With the development of technologies, Business Workflow Automation & Optimization solutions have been increasingly used by businesses for reducing time that has been wasted in paperwork. These business workflow automation & optimization solutions further helps in increasing productivity, improving efficiency and processes which helps in increasing the quality of overall business works. In business workflow automation & optimization process business documents are processed and integrated with the systems and creates document processing portal/dashboard to enable process monitoring. It is expected that in coming 5 to 10 years business will adopt Business Workflow Automation & Optimization process and fully automate their workflows.
Business Workflow Automation & Optimization Market: Drivers and Challenges
The major factor driving the adoption of Business Workflow Automation & Optimization is the increasing demand for digitalizing the business documents and processes. Moreover, these Business Workflow Automation & Optimization solutions help employees to reduce their repetitive manual task and improve their productivity of working on other important task. These Business Workflow Automation & Optimization solutions are also been implemented in the businesses to move their business towards digitalization by reducing paper work and storing documents in a digital format.
The key challenge for Business Workflow Automation & Optimization processes are long term process in which businesses has to digitalize and automates their all processes which is time taking. This restricts the implementation of Business Workflow Automation & Optimization solutions. Also, these process needs proper training of employees and staff to work and understand the automation processes which creates difficulty for business to train employees.
Business Workflow Automation & Optimization Market: Segmentation
Business Workflow Automation & Optimization solutions can be deployed on premises and on cloud depending on business capability and need.
Business Workflow Automation & Optimization can also be segmented on the basis of its industry sector which are implementing these Business Workflow Automation & Optimization process such as healthcare, manufacturing, retail & consumer goods, education and others.
In April 2015, Xerox, a software provider has launched its new services and tools that improve the way retailers, financial institutions, healthcare systems and other large enterprises deal with documents. Moreover, Xerox introduces several workflow automation solutions built on its partnership with Hyland, creator of OnBase, automate processes critical to business functions such as loan application process.
In Business Workflow Automation & Optimization market there are many players some of them are SAP SE, Xerox, IBM Corporation, Flexera Software, Digital Vision EA, The Reva Solutions and others.
Presently, North America and Europe is holding the largest market share for Business Workflow Automation & Optimization market due to presence of large software providers and market players in these region. Moreover the rising usage of new technology for tracking is increasing the market opportunity in Europe region in healthcare and manufacturing industry.
Asia –Pacific is also increasingly adopting Business Workflow Automation & Optimization technologies with the entry of major & established players for various usage and digitalization of business documents and for automation of processes.
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