Workflow management is a proven discipline that has been helping successful organizations manage their workflow efficiently for over a century. Yet it has received increased attention in recent years following the proliferation of innovative systems that make it easy for organizations to automate tasks. In 2019 the workflow automation market reached a value of $8.07 billion and is projected to reach$39.49 billion by 2027, growing at a CAGR of 23.68% between 2020 and 2027.
What is Workflow Management?
A workflow is a sequence of tasks that are part of some larger task. A workflow is intended to help achieve a predefined business objective. Organizations use workflow management to produce better results based on a specified set of goals.Many organizations use workflow systems to automate tasks in conjunction with management principles. In addition to automating tasks, workflow management systems help stakeholders to easily map workflows to identify repetitive tasks, bottlenecks, and opportunities for improvement.Gartner breaks workflow management down further into two interrelated categories:
- Internal and external process integration. An approach that provides for the “definition of business processes that span applications,” and “usually requires a standards-based commercial workflow development environment.”
- Automated events or processes. An approach that “enables automated tasks…to be performed.”
The Benefits of Workflow Management
Workflow management offers organizations in every industry a broad range of benefits, including:
