Business Process Management solutions have their roots as far back as 1980 when the first digital workflow management system was developed. Modern solutions started becoming popular at the turn of the 21st century and there’s no doubt that this is a market that continues to grow, evolve, and innovate at an unwavering pace.
The result is that, today, there are a plethora of automation platforms and tools available. Businesses may be spoilt for choice, but this could make the selection of an automation partner or platform challenging.
The Value of Automation
If you’re wondering whether automation is the right move for your business, you’re asking the wrong questions. A recent study pulls more than 100 significant 2023 automation statistics together, noting that the global robotic process automation (RPA) market size is expected to reach $25.56 billion by 2027, growing at a CAGR of 32.8% from 2020 to 2027 – citing markedly increased productivity, significant cost savings, and enhanced GDP growth benefits are key drivers for this growth.
Need versus Preference
Now the question arises, how are businesses going about making a platform selection from the seemingly infinite options? Is it the relationship perks the vendor offers, slick marketing, the appeal of the platform itself, or the business’ needs that drive the final decision?
What to Consider When Choosing an Automation Platform
In reality, the decision should be based on a combination of these elements (minus the marketing gimmicks). Careful consideration of both the capabilities of the software and whether they’re positioned to meet the business’ needs should be made, by identifying the:
Why Your Choices Matter
Looking for an automation platform? Choose wisely. According to the MarketSplash study, “a staggering 90% of automation projects fail due to technical issues, 37% due to implementation costs, and 25% because of a lack of vision or strategy.”
The cost of failed implementation goes much further than monetary value. More than wasted expenses, these failures can lead to decreased morale, disruption, and interrupted operations.