Business Process Management (BPM) is a discipline that involves a combination of process modeling, automation, execution, control, measurement and optimization of the business process flows in alignment with the enterprise goals. This is widely adopted by organization for improving the entire business operations. It empowers organization by managing workflow more efficiently, effectively and make more adaptable to environmental change.This growth is primarily driven by Increasing Focus on Automating Businesses, Optimized Resource Utilization Through Automated Business Processes, Automated It Systems Help Serve Customersí Dynamic Requirements and Streamlined Communication Across Varied Business Functions in the Organization.
Major Players, such as IBM (United States), Nintex (United States), Automation Anywhere (United States), UiPath (United States), Software AG (Germany), Appian (United States), Pegasystems (United States), Innovation Group (United Kingdom), Oracle (United States), Genpact (United States), Newgen Software (India), Bizagi (United Kingdom), OpenText (Canada), AgilePoint (United States), ProcessMaker (United States), TIBCO (United States), Creatio (United States) and Bonitasoft (France) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2020, Appian acquired Novayre Solutions SL, developer of the Jidoka RPA platform. Acquisition of Novayre Solutions SL will empower Appian to unify low-code development and RPA into a single automation platform.
In January 2020, Appian entered into a technology partnership with Celonis, the market leader in AI-enhanced process mining and process excellence software. The partnership between Celonis and Appian is to unite Appianís low-code automation platform with Celonisí process mining technology for accelerating customersí digital transformation journey. In August 2019, Nintex released new digital forms designer for creating sophisticated electronic forms that help collect information anytime and anywhere. The new forms of designer capability, which is part of the Nintex Process Platform, enables enterprises to manage, automate, and optimize business processes with the help of drag-and-drop functionality instead of coding.
- Increasing Focus on Automating Businesses
- Optimized Resource Utilization Through Automated Business Processes
- Automated It Systems Help Serve Customersí Dynamic Requirements
- Streamlined Communication Across Varied Business Functions in the Organization
- Persistent Growth in Cyberattacks and Security Issues
- Lack of Adequate Understanding From Many Business
OpportunitiesIntegration of Ai and Ml Technologies and Rising Demand for Robust Solutions to Maximize the Visibility and Control Over Processes
ChallengesGrowing Cultural Barrier to Adopt Advanced Solutions Over Traditional Systems and Selecting Appropriate Processes to Implement Automation
AdvanceMarketAnalytics follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
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