0
Upcoming Allied Market Research
2023
Business Process Market

Business Process Market

by Component (Platform, Services), by Organization Size (Large Enterprises, SMEs) by Deployment Mode (On-Premise, Cloud) by Business Function (HRM, Supply Chain Management (SCM), Sales and Marketing, Accounting and Finance, Customer Service Support, Others) by Industry Vertical (BFSI, IT and Telecommunications, Retail, Healthcare and Life Sciences, Others) : Global Opportunity Analysis and Industry Forecast, 2022-2032

Report Code: A47539
Pages: NA
Apr 2023 | 90 Views
Author(s) : Vineet K
Tables: NA
Charts: NA
  • Formats*:

  • pdf

    Single User License, Five User
    License & Enterprise User License

  • xls

    Data Pack Excel License

  • ppt

    It comes with the additional cost
    of $2500.00 contact sales.

 
Business process refers to the set of activities, tasks, and procedures that is performed by an organization to achieve its goals and objectives. This processes can be categorized into three main types: operational, management, and support. Operational process is directly related to producing goods or services, such as manufacturing, sales, and customer service. Management process is responsible for the organization's overall management, such as strategic planning, budgeting, and performance management. Support process, such as IT, HR, and finance, provide the necessary infrastructure for the organization to function.
The business process market comprises a wide range of products and services designed to help organizations streamline processes and improve performance. BPMS, business process outsourcing, and consulting services are some of the market's most important products and services. As more organizations recognize the importance of efficient and effective processes, this market is expected to grow.
The increasing globalization of business is one of the major drivers of the business process market. In a globalized business environment, it is essential for organizations to have efficient and effective processes to remain competitive. Organizations can improve their efficiency, reduce costs, and increase their competitiveness in the global market by implementing business process products and services such as BPMS, business process outsourcing, and consulting services. Furthermore, business process reengineering (BPR) is another main driver of the business process market. BPR is becoming a popular strategy for organizations to improve performance by redesigning and streamlining existing business processes. This can help organizations reduce costs, improve efficiency, and increase revenue. Consulting services such as McKinsey or Deloitte can also assist organizations in the process of BPR by providing them with expertise and guidance. In addition, the shift towards cloud-based solutions is driving the growth of this market. Cloud-based solutions allow organizations to access BPMS and other services remotely, which provides greater flexibility and scalability. This is particularly useful for organizations with remote workers needing to access their processes from multiple locations. For example, Salesforce or SAP cloud-based BPMS allows organizations to remotely manage their sales and customer service processes.
However, implementation and limited customization are two major challenges faced by organizations in the business process market. Implementing new processes can be difficult and time-consuming, especially for large organizations with complex processes, requiring a significant investment of time and resources. For example, a large retail organization with multiple departments and locations needs to implement a new inventory management system. The process of implementation will require the organization to identify the processes that need to be changed, design new processes, test the new processes, and then roll out the new processes to the organization. This process can take several months to complete and requires a significant investment of time and resources. Limited customization options in some BPMS and solutions can also make it difficult for organizations to tailor them to their specific needs, limiting their effectiveness and increasing costs. Organizations need to be aware of these challenges and plan accordingly to ensure effective implementation of new processes and solutions.
Moreover, the growing use of Internet of Things (IoT) and smart technology is providing new opportunities for the business process market. IoT and smart technology are making it possible for organizations to collect and analyze large amounts of data in real-time, which can be used to improve efficiency and decision-making. These technologies can be integrated into BPMS and other solutions to provide real-time data and improve efficiency. For example, using IoT sensors, organizations can track and monitor their inventory in real-time, which can help them optimize their inventory levels and reduce waste. Smart technology such as machine learning can also be used to analyze the data collected by IoT sensors, which can be used to predict future trends and improve decision-making.
 
New product launches is flourishing the market growth.
In Jan 2023, Rudrabhishek Infosystems Pvt. Ltd., a wholly-owned subsidiary of REPL, in partnership with ORGNN Technologies, has launched the enterprise resource planning (ERP) software 'FusionHub Cloud ERP' in the Indian market. This product is specifically designed to address the specific needs of smaller AEC sector by providing end-to-end business management software that helps companies manage business functions ranging from project management to human resources. The software is a cloud-based solution that is inexpensive to implement, highly flexible, and requires lower maintenance efforts.
Segmental Overview
By component: The business process market is divided into platform and services. Platform includes organizations’ software and technology to manage and automate their business processes. This can include business process management software (BPMS), ERP software, and other related technologies. These platforms provide organizations with the tools to design, model, execute, monitor, and optimize their business processes. Examples of popular BPMS software include SAP, Oracle, and IBM. Services include the consulting, integration, and support services that organizations use to implement and maintain their BPMS and solutions. These services can include BPR, change management, and training consulting firms, system integrators, and other service providers usually provide services. Examples of popular service providers include Accenture, Deloitte, and McKinsey.
By organization size: The business process market is divided into large enterprises and small and medium-sized enterprises (SMEs). Large enterprises typically have a large number of employees, a complex organizational structure, and a significant amount of resources. They often have a need for enterprise-level BPMS and solutions that can handle the complexity and scale of their operations. These solutions are typically more expensive and require a significant investment of time and resources to implement and maintain. SMEs typically have a smaller number of employees and a simpler organizational structure. SMEs usually have limited resources and may require specialized solutions that are tailored to their specific needs.
By deployment mode: The business process market is divided into on-premise and cloud. On-premise solutions are installed and run on the organization's own servers and infrastructure and offer more control and security. Cloud-based solutions, on the other hand, are hosted on remote servers and accessed through the internet and offer more flexibility, scalability, and affordability.
By business function: The business process market is divided into human resource management (HRM), supply chain management (SCM), sales and marketing, accounting and finance, customer service support, and others. HRM is the process of managing and organizing an organization's workforce. This includes recruiting, hiring, training, employee performance management, and employee benefits. SCM is the process of managing the flow of goods and services from suppliers to customers. This includes sourcing, procurement, logistics, distribution, and inventory management. Sales and marketing processes are focused on generating revenue by selling products or services to customers. This includes lead generation, customer relationship management, and marketing campaigns. Accounting and finance processes are focused on managing an organization's financial resources. This includes financial planning, budgeting, accounting, and financial reporting. Customer service support processes are focused on providing assistance to customers with issues or questions. This includes customer support, technical support, and help desk management.
By industry vertical: The business process market is divided into banking, financial services, and insurance (BFSI), IT and telecommunications, retail, healthcare and life sciences, and others. BFSI processes are focused on managing the financial transactions and operations of banking, financial services, and insurance companies. This includes accounting, financial management, and risk management. IT and telecommunications processes are focused on managing organizations' technology and communication infrastructure. This includes network management, data center management, and customer support. Retail processes are focused on managing the operations of retail businesses, including inventory management, logistics, and customer service. Healthcare and life sciences processes are focused on managing the operations of healthcare and life sciences organizations. This includes patient management, medical billing, and drug development.
By region: The business process market is segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. The presence of large enterprises and the adoption of advanced technologies such as cloud and automation drive the market for business process management solutions in North America. The market for business process management solutions in Asia is driven by the increasing adoption of advanced technologies, the presence of large enterprises, and rapidly growing economies.
Competitive Analysis
Competitive analysis and profiles of the major players in the business process Accenture, Appian Corporation, BP Logix Inc., Infosys Limited, International Business Machines Corporation, Kissflow Inc., Nintex Global Ltd., Open Text Corporation, Pegasystems Inc., Red Hat, Inc., SAP SE, Software AG, and Tata Consultancy Services Limited. Major players have adopted product launch and acquisition as key developmental strategies to improve the product portfolio of the business process market.

Business Process Market Report Highlights

Aspects Details
By Component
  • Platform
  • Services
By Organization Size
  • Large Enterprises
  • SMEs
By Deployment Mode
  • On-Premise
  • Cloud
By Business Function
  • HRM
  • Supply Chain Management (SCM)
  • Sales and Marketing
  • Accounting and Finance
  • Customer Service Support
  • Others
By Industry Vertical
  • BFSI
  • IT and Telecommunications
  • Retail
  • Healthcare and Life Sciences
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players Accenture, Appian Corporation, Infosys Limited, International Business Machines Corporation, Open Text Corporation, Kissflow Inc., Nintex Global Ltd., Software AG, Tata Consultancy Services Limited, Pegasystems Inc.
Red Hat, Inc., SAP SE, BP Logix Inc.
 

Loading Table Of Content...


 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
PURCHASE OPTIONS

Call or Email us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : +44-845-528-1300
Email : help@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Enquiry Now

Purchase Full Report of
Business Process Market

Start reading.
This Report and over 19,981+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,570
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
  • Data Pack
  • $3,840
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Single User
  • $5,730
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Five Users
  • $6,450
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Enterprise
    License/PDF

  • $9,600
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
  • Library
    Membership

  • $999 $ 1,175
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

RELATED REPORTS
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers