Software has quickly become the fuel that drives companies into the modern era of competition, and many firms have focused on deploying these assets with the specific goal of automating core business processes. The range of industries that have embraced business process management automation is vast at this point and ever-expanding, ushering in a new era of corporate efficiency, accuracy and streamlined operational oversight.
Those firms that have yet to begin provisioning these solutions should certainly do so soon, as maintaining a competitive edge without these technologies in place will be increasingly difficult at time goes on, considering how many companies have already implemented them. By choosing the right managed service provider to guide leaders through the provisioning, implementation and optimization processes of deployment, major efficiencies can be gained in a relatively short period of time.
Trends a-growing
Research and Markets recently released a new study on BPM automation demand, affirming that the private and public sectors are continuing to increase their expenditures for these assets as the years go on. According to the report, the market for such solutions hit $4.71 billion in 2014, and is expected to expand at a compound annual growth rate of 17.9 percent through 2019, when the estimated value will reach $10.73 billion.
The researchers found that virtually every major industry is contributing to the increasing level of expenditure, including financial services, retail, health care, transportation, government and others. Considering how quickly the global economy has made the switch to digitally driven operations, it should not be all that surprising that the average firm is looking to leverage automation solutions that streamline functions and processes more than would have been possible only a decade ago.
With respect to the types of business process automation solutions being deployed, Research and Markets pointed to modeling, integration, content management, monitoring and optimization.
Time to begin
Business process automation comes with a wealth of benefits to organizations, such as increased employee engagement, stronger accuracy in reporting and oversight, enhanced operational efficiency, better communication and modern corporate capabilities. The tools available to help companies achieve greater levels of performance through process automation are already vast, and there is still plenty of room for growth and advancement in this regard.
Leaders can often find ways to achieve excellence across operations when they are leveraging automation solutions that directly align with their specific objectives and needs.
