Articles

BPaaS Solutions – Enhancing Process Management

July, 2019

Business Process as a Service (BPaaS) helps the organizations to increase the agility of business processes by providing critical technologies to implement, deploy, and train the processes coupled with cost control measures such as reducing labor costs through increased automation. BPaaS are sourced from the cloud which is an Internet-based technology. BPaaS consists of cloud computing security and privacy by design business processes in the cloud and others to fulfill the rapidly changing business demands. Exponential advances in technology and advancement in hardware components have significantly reduced barriers for developing technology for grid security.

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The BPaaS solutions are integrated with high-tech systems including cloud computing and IoT. The BPaaS market will witness substantial growth owing to the growing security needs of the Internet of Things (IoT) as well as digitization across the verticals. Increased deployment of web and cloud-based business applications, business analytics, social media platforms, and process automation software will also positively influence the BPaaS market across the globe.

Continuous development and integration of innovative novel technologies are improving the security measures in business processes. However, a lack of understanding of cloud and integration of BPaaS solutions within the existing infrastructure is creating a challenging environment for global BPaaS market due to significant third-party dependence. Hence the adoption of suitable business process service plan and its deployment plays a vital role in the work scenario.

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Few of the key happenings are detailed below:


         
  • Over 190 deals were expected to renew in 2018 each has a value of $100 million indicating Indian IT firms have an increased share in the global outsourcing contracts

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  • In 2018, Ant Financial has invested over $15.7 million in Pilipa which is a Business Process as a Service (BPaaS) provider in the areas such as taxation, incorporation, and financial consulting services

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  • In 2018, Ramco Systems announced that KPMG Malaysia has adopted its Ramco HCM and Payroll solution which is a Business Process as a Service (BPaaS) solution


Conclusively, with the growing adoption of technologies including business applications, business analytics, and process automation, the BPaaS solutions will become more adaptive supported by advancing hardware and software components. Considering significant demand across verticals, BPaaS solutions will certainly play an important role in cost-effective and agile business processes.

– Rahul Kumar Pandey
ICT – Research Analyst
Infoholic Research