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How important is workflow management optimization?

How important is workflow management optimization?

Workflow management has always been a critical function of corporate leadership, as decision-makers are tasked with developing the smoothest, most efficient and effective approach to business process oversight. Traditionally, this was an arduous task that strained resources in many regards, as a tight workflow can only be achieved when decision-makers diligently plan in the beginning, then do not relent in their pursuit of continuous performance improvement.

Now, organizations have started to leverage the power of workflow automation software to take their business processes to the next level of performance, reducing the amount of expenditure needed from a resource standpoint while simultaneously improving the ebb and flow of management. Workflow software can be used to reduce inaccuracies, drive the timeliness of information analysis and more, leading to fewer disruptions and greater overall process optimization. 

Decision-makers who have not yet considered the merits of workflow automation should do so soon, as at least some of their competitors have likely started to embrace these solutions and are positioning themselves to excel in the process. When the organization is empowered by advanced technologies and workflow management is working in an ideal fashion, a firm will be more likely to capitalize on opportunities as they arise than those that are bogged down in antiquated process oversight. 

How popular is workflow automation?
Again, it is likely that at least some organizations in each industry and market have begun to deploy workflow automation software, as evidenced by recent studies. For example, ReportsnReports released a study this October that forecast the global workflow management solutions market to expand at a compound annual growth rate of 28.9 percent between now and 2019, attaining a total size of $5.53 billion by the end of the projected period. 

Not surprisingly, the analysts asserted that some of the reasons behind this exceptional growth in revenues and demand include the need to develop a more agile business process management system amid the constantly evolving demands of consumers and markets themselves. In fact, the researchers pointed out that the increasing complexity of operational requirements and business processes themselves is further instilling companies with a desire to automate a broader range of workflow components. 

Furthermore, ReportsnReports pointed out that business model building, document and information management, process oversight and other workflow components will likely be targets of enhanced automation strategies in the future.

In a separate study released by RnR Market Research, process automation was forecast to reach a total market size of $180.26 billion in global annual revenues by 2020, with distributed control systems taking up the lion's share of demand and purchases. As a note, the firm explained that the systems and instrumentation needed to make process automation software perform optimally will be the real trend to watch in the coming years.

So, it should be clear that business process and workflow automation solutions are spreading like wildfire, and that the time to act on new deployments in this regard is now. 

Why not now?
Some organizations might feel as though the process and workflow management strategies they have had in place for years are more than enough to make themselves successful. While there are certainly companies that have achieved exceptional levels of performance in this regard, it is not likely that many have reached optimal outcomes without the use of advanced technologies. 

Sure, a leader might look at one of these investments as a risk simply because it is a purchase, but returns on these deployments can be exceptionally high when the firm embraces all of the advantages they yield. 

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