The Growth Of The Market For Workflow Management System
Based on a study that was titled “Global Workflow Management Systems Market” for 2015 – 2019, research analysts have predicted that market for workflow management systems will grow at a CAGR of 28.77% for the forecast period 2014 to 2019. The report provides an overview of workflow management including its types, features and benefits.
A workflow management system is best defined as a software package that can be used to support management and to execute and monitor various tasks in sequence to be able to effectively maintain workflow processes. The integration of workflow systems and applications will ensure the incorporation of people and programs into the framework of a defined business process.
Because of frequent changes and the complexity of business processes, workflow management systems have become rather popular. At present, there are two types of workflow management system that are being used: automated processes and internal and external processes. Based on observations, businesses and organizations are progressively implementing the workflow management systems for the purposes of increased productivity, enhanced efficiency, to generate additional revenues, to utilize time properly and to provide an immediate response to consumer queries. When costs are low and revenues increase, it will result into enhanced profitability for a business not to mention increased organization success.
The report has broadly segmented the market for workflow management systems according to key regions such as the America’s, APAC and EMEA. The key countries that were highlighted in the report include the United States, Germany and Japan. The report has further segmented the deployment model according to cloud-based and on-premises that play a critical role in the workflow management system. According to the report, the advent of cloud-based workflow systems has allowed organizations to use the technology at a very cost effective price. In fact, the major cost of implement is the biggest challenge particularly since it requires professionally-trained people.
On the other hand, there is Workflow Management Software for non-technical users. Software allows low-code addition and modification of workflows and data without requiring IT resources. It also provides transparency of task flows so that the organization can achieve full control of all daily activities.