Cloud workflows automate monotonous tasks in a trustworthy way. They convert manual procedures to web-based digital workflows that exclude paper forms as well as manual data entry. By using cloud-based workflow solutions, organizations can diminish manual steps and enhance the efficiency of their workflows promptly at a considerably lower cost. Cloud-based workflows platforms are already hosted and designed on the cloud by the service providers. Cloud-based workflows drive extreme productivity by taking organizations workflows online.According to AMA, the market for Cloud Workflow is expected to register a CAGR of 17.2% during the forecast period to 2024. This growth is primarily driven by Increasing Adoption of Cloud, Rising Adoption of Cloud-Based Workflows among SMEs and Growing Focus on Streamlining Workflows and Business Processes.
Globally, a noticeable market trend is evident Many Organizations Are Shifting Toward “Cloud Only” Strategies
. The Cloud Computing sector in the North America region has been increasing at a strong rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as SAP (Germany), IBM (United States), Pega (United States), Microsoft (United States), Appian (United States), Micro Focus (United States), Ricoh USA (United States), Nintex (United States), Pnmsoft (England) and K2 (United States) 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:
On July 31, 2018, Nintex Acquired Process Management Leader Promapp. This acquisition adds new Nintex Platform visual collaboration and process management capabilities to help organizations better orchestrate, automate, and optimize all business processes. and On 1 Sept 2017, Micro Focus completed a merger with HPE software business, creating one of the world’s largest pure-play software companies.
Recently, K2 has simplified workflow development and bring cloud features to updated on-premises version. K2’s SmartAssist technology has been comprehensive to provide more intelligence in the design phase to make workflow development easier and more efficient.
- Increasing Adoption of Cloud
- Rising Adoption of Cloud-Based Workflows among SMEs
- Growing Focus on Streamlining Workflows and Business Processes
- Many Organizations Are Shifting Toward “Cloud Only” Strategies
- Many Organizations Are Adopting Cloud Workflows Due To Productivity, Ease of Use, And Lower Costs
Rising Use of the AI Technology and Growing Focus on Digital Transformation Initiatives
Enterprises’ Inclination toward Bpm Solutions and Lack of Awareness of Cloud-Based Workflow Solutions
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