Over the course of time, companies have realized the importance of automating the workflows in business processes. Process orchestration vendors are primarily focusing on better tracking and reduce operational cycle time to complete business processes. Most of the large organizations outsource their BPO activities to increase bottom-line growth. Organizations are facing tremendous competition, and it is crucial to improve the bottom-line growth, while maintaining the quality and compliance. Customer satisfaction is likely to be the key factor for the growth of the process orchestration market in the near future. The impact of process orchestration on business applications is expected to boost the entire internal operations of an organization.
Businesses across the globe are looking to make the BPM activities smoother. Technologies such as RegTech and RPA are impacting the BPO operations. The influx of AI and ML is likely to derive more insights to enhance customer satisfaction and quick processing of requests from customers. The automation and AI are all set to transform the business process management. The process orchestration market is expected to grow enhancing the capabilities of BPM solutions adopted by organizations across regions.
The market is growing with the presence of few IT giants and pureplay vendors. SAP, Oracle, IBM, Cisco, and Microsoft are few of the companies profiled in the report. The process orchestration vendors are focusing on analytics and integration capabilities to extract customer insights that help in insurance product offerings for the insurers.
– Swarup Bhowal,