Software developed to support an enterprises or business process management (BPM) activities in a highly collaborative way is termed as smart process application.
The software provides quicker and more consistent user experience. Furthermore, faster and end to end process times are now possible by engaging smart process application.
Besides this, this emerging category of tools can also streamline human centric business procedures.
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There are several drivers, restraints and opportunities that are shaping the smart process application market.
Demand for affordable solutions has increased the adoption rate of the smart process application. In addition, organizations seeking solutions that would help them improve their business agility are now relying on such solutions.
However, lack of awareness about the benefits of smart process application has hampered the growth of the market to a greater extent. The North American region is anticipated to generate better opportunities in the future.
The smart process application market is segmented based on deployment model, services, size of the organization, industries and geography. The deployment model discussed in the market research report includes on premise and cloud.
Services examined in by the study consists of professional services, managed services and support and maintenance services. Furthermore, small and medium size enterprises and large enterprises today relying greatly on smart process application.
The adoption rate of the solution is clearly visible in business verticals like BFSI, Telecom, Healthcare, Retail, Manufacturing, Media and Entertainment and many others. Regions anticipated to witness rapid growth are North America, Europe, Asia -Pacific and LAMEA.
Prominent market players are also seen acquiring new companies or local market players to maintain their competitive edge. Other business strategies favored by the companies include constant upgradation, joint ventures and collaborations.
Prominent market players discussed in the market research report are OpenText, SAP, Kofax, EMC Corporation, KANA,Salesforce.com and others.
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