Business process management has always been a critical aspect of corporate operations, but never before has there been such a clear opportunity to refine and streamline the various activities contained therein. Because so many organizations in such a broad pool of industries have become more reliant upon digital technology for a wide range of corporate functions and goal realization, automation has moved into a central position in the IT investment landscape.
The general tenets of automation in the modern workplace include the deployment of strategic solutions and frameworks that will reduce rework and other inefficient processes, drive employee engagement, improve the accuracy of reporting and free up key staff members to focus on performance improvement. From data entry and invoice processing to general content management and records oversight, the applications of business process automation continue to expand amid rising demand for the solutions.
Where in the past automation primarily pertained to structured, process-driven workflow, the new tools in the market allow for unstructured, event-driven workflow that allows users to think on the fly along with today's fast-paced business requirements.
In many ways, the businesses that are most proactive, focused and comprehensive in their approaches to process automation will be the most successful in lowering overhead and driving productivity, thus improving profit margins more quickly than their competitors. Regardless of which types of operation functions a company might have to cover in its daily activities, the fact remains that automation can help to improve workflow and process management.
A new study indicated some of the trends that are taking shape in automation adoption and service delivery, highlighting the various reasons behind increased procurement activity among companies in the modern private and public sectors.
Sunny outlook for automation market
WinterGreen Research recently released its Business Process Management Cloud, Mobile and Patterns: Mark Shares, Strategies and Forecasts, Worldwide 2014 to 2020 study, which revealed several key trends in the automation arena. According to the firm, business process management software has been especially popular because of its strengths in connecting various systems and employees into one cohesive and efficient environment.
Companies are beginning to understand that automated business processes are critical for long-term financial stability and growth, while innovation is further stimulated through the use of these pieces of software. The firm pointed out that deployment behaviors are generally aligned with new IT implementation practices, meaning that an organization which purchases a new technological framework will be more likely to use automation software that can immediately optimize the latest investments.
In many ways, the explosive growth of business process automation software has been closely tied to the much higher volume of corporate apps and big data investments that are making their way into the common workplace.
"BPM is evolving cloud SaaS for business applications to accomplish work," Susan Eustis, lead author at WinterGreen Research, affirmed. "The opportunity to implement apps that make automated process more responsive to the needs of customers, partners, suppliers, and distributors, people use BPM as the need for automation tools to help workers is upon all of us."
Eustis added that smart devices, mobile-enabled automation tools and services that are based in cloud computing have appeared, at least thus far, to be the most highly demanded options on the broad scale.
In terms of the future, the analysts believe that the automation market will only continue to become more diversified, robust and highly demanded among businesses in the next six years. For example, WinterGreen Research projected the global market for these tools to grow from $3.4 billion in annual revenues this year to $10 billion by 2020, noting that adaptive solutions appear to represent the next stage in automation's evolution.
Data capture in the spotlight
Earlier this year, Global Industry Analysts released a study that revealed demand for data capture automation tools is rising among businesses today, noting that small and medium-sized companies seem to be the most aggressive pursuers of these technologies. As for the reasoning behind growing market revenue volumes in this arena, the firm stated that productivity, efficiency and accuracy enhancements seem to be the core objectives among adopters.
Automated data entry and collection can have significantly positive impacts on standing information governance and content management strategies for the average business. Considering the fact that human error and negligence are among the most common causes of poor content management performance, automating the relevant processes with data capture software can come with significant and widespread advantages in practice.
Notably, big data is the elephant in the room when discussing these types of topics, as studies indicate that the average business, regardless of size or industry, is beginning to deploy these solutions more aggressively in the modern market. As higher volume and faster velocity are two of the defining characteristics of big data, the applications of data capture and content management automation are clear and vast in the relevant analytics strategies.
By proactively deploying these solutions, companies can expect to enjoy fewer inaccuracies, enhanced employee engagement and a variety of other benefits in both the short- and long-term perspectives.
