Enterprise Workflow Automation Software Market: Introduction
Enterprise workflow automation software enables the design, execution, and automation of processes based on workflow rules where human tasks, data, or files between people or systems are based on a pre-defined organization code. This improves productivity, efficiency, and customer experience.
Global Enterprise Workflow Automation Software Market – Dynamics
Increasing Need to Reduce Operational Cost
Organizations are increasingly striving to reduce the operational cost to survive in this competitive environment. Financial institutions, retail enterprises, and many other industries are eliminating manual operational work and shifting the workflow on to software. Enterprise workflow automation software eliminates manual work and reduces the labor cost. Labor cost is one of major costs incurred by organizations to maintain, manage, and validate the files.
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Cloud Security and Network Transmission Issues
Enterprise workflow automation software models rely heavily on cloud services and are susceptible to service impairment or control loss, data leakage, service loss including service interruption, or in worse cases, monetary loss. User experience may also be impacted by unstable network transmission at some places and this is expected to limit the reach of cloud-based services including cloud-based and hybrid services/solutions in the affected regions.
Global Enterprise Workflow Automation Software Market – Competition Landscape
- In August 2019, Camunda and Wipro Technologies signed a partnership to offer a workflow automation platform. The partnership will enable Wipro to integrate Camunda’s products and enterprise platform with its offerings.
Camunda
Incorporated in 2008, Camunda is specialized in providing solutions related to Business Process Management (BPM). The company provides an open source workflow automation and decision platform. The company’s customer base includes 24 Hour Fitness, AT&T, Lufthansa Technik, and Zalando.
Global Enterprise Workflow Automation Software Market: Segmentation
The global enterprise workflow automation software market can be segmented based on:
- Enterprise Size
- Industry
- Region
Global Enterprise Workflow Automation Software Market, by Enterprise Size
Based on enterprise size, the global enterprise workflow automation software market can be divided into:
- Small & Medium Enterprise
- Large Enterprise
Global Enterprise Workflow Automation Software Market, by Industry
In terms of industry, the global enterprise workflow automation software market can be segregated into:
- Banking, Financial Services & Insurance
- Telecom & Information Technology (IT)
- Manufacturing
- Construction
- Wholesale Distribution
- Non-profit Organizations
- Chemicals
- Food and Beverage
- Retail
- Others (Hospitality, Government, and Public Sector, etc.)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
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The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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