November 2021CIOAPPLICATIONS.COM6Copyright © 2021 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.November - 8 - 2021, Volume 07 - Issue 30 (ISSN 2644-240X) Published by ValleyMedia, Inc. To subscribe to CIO ApplicationsVisit www.cioapplications.com Managing EditorJoe Phillip*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffSalesSebastian Jacobsebastian@cioapplications.comEmailsales@cioapplications.comeditor@cioapplications.commarketing@cioapplications.comEditorialAn Overview of the Workflow Automation Market TrendsThe workflow automation market is recently growing at a formidable pace worldwide and is expected to reach $18.45 billion by 2023, at a CAGR of 23.56 percent. The increasing need for competitive and improved workflows, functionalities, and capabilities across businesses are driving industry leaders into embracing the latest technologies into their industrial frameworks. This will undoubtedly allow the workflow automation market to anticipate more revenues in the upcoming years.In this regard, it is essential to talk about the latest trends emerging in the current market that are ultimately shaping the industry. The course of the market suggests that the workflow automation industry can expect an immense boost from the business process management (BPM) technology. BPM plays a significant role in enabling the business operations department to understand how to optimize their current processes, including workflow automation. And a spike in investment in the BPM technology would also mean that the workflow automation industry would be even more in demand. Another boost will be provided by artificial intelligence (AI), as developers are using the technology in building various critical components of workflows. Also, the users are inclining more towards the piecemeal integrations of tools as these bite-sized innovations are greatly effective in accelerating the manual processes. Last but not least is customizable software. As each customer's business objectives and demands are unique, it would be imperative for the industry to develop custom software that aligns with each customer's preferences.The workflow automation market is no doubt picking up steam. However, some skeptics opine that automation can spoil the human broth, resulting in massive job elimination. But it is important to remember that implementing automation aims not to steal jobs but to enhance them and streamline cumbersome processes. The industry might still be required to fight this popular belief to strengthen its foothold in the market, but once done, the way forward shall be smooth as far as the trends suggest.This edition aims to provide readers with insights from industry leaders to help them have a detailed understanding of the workflow automation arena and the recent developments in this field.Let us know your thoughts! Joe PhillipManaging Editoreditor@cioapplications.comJoe PhillipGraphics & ArtEditorial StaffBen JacksonDaniel HolmesEzra BenjaminSoham SanyalRose DcruzSenior WritersClara MathewLeah JaneRoyce D'SouzaAsher Blake
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