The local business process automation industry will grow by 15% in 2023
The automation of business processes will gain even more momentum, this year, at the local level and is starting to be accessed by more and more industries that want to simplify the activities of operational teams. Thus, at the level of our country, the BPA (Business Process Automation) market will grow in 2023 by approx. 15% vs. 2022, in line with the increase reported internationally.
“The trend is in line with the global one, where the BPA industry is in full swing, especially in the current market context, economically unstable and with a low degree of predictability. Studies show that the value of the global business process automation market will grow from approx. 12.4 billion dollars in 2022 to approx. 14.02 billion dollars in 2023. Also, according to The Business Research Company*, by 2027, the value of this market may reach 22.94 billion dollars”, said Bogdan Hebean, Managing Director of Realworld Eastern Europe, one among the local software integration market players.
The main automation processes are implemented for repetitive tasks, which the operations team spends too much time solving, with marginal added value. But by integrating a BPA system, the company can have a number of major advantages, such as improving the customer experience or relieving employees from key roles of repetitive tasks and training them in activities and work processes with higher efficiency.
Telecom – reference industry in BPA
According to the representative of Realworld Eastern Europe, at the level of our country, one of the industries with the most automated processes is telecom. This trend plays a key role, becoming one of the main factors towards innovation, efficiency, success and, in the current context, leading to lower costs. Automation in telecommunications means faster definition and provisioning of mobile and fixed services. By reducing the time and costs required to activate and deliver services, operators will be able to gain and maintain a new customer base much more easily.
The main benefit of BPA systems in the telecom industry is reduced operational costs by providing a scalable and automated customer experience, streamlined services and optimized internal processes.
Another important aspect is the efficient flow of data in the context where automation can process information at a much higher rate than traditional processes, optimizing the entire ecosystem of a business.
Moreover, automation of network monitoring has emerged as a trend. With the rise of IoT devices, the advent of 5G, network virtualization and various other new technologies, the traditional approach to data collection and analysis is no longer adequate. As a result, coordination of all these elements becomes crucial and automation of the process, where possible, is the preferred solution.
Realworld Eastern Europe has already implemented a series of process automation systems within Orange Romania, one of the main players in the telecom industry. One of these involved triggering and monitoring processes related to billing, disk backup, and many other repetitive but critical operational tasks.
The banking industry is catching up with the process automation trend
Beyond the telecom industry, where BPA is already being widely adopted locally, the banking industry is one of those that is seeing an acceleration of process automation projects.
This sector has gone through a major digital transformation in recent years, especially as a result of the pandemic situation in 2020. The context has forced the offering to customers to move more and more to online or tele-sales.
“Thus, they hit upon the need for rapid digitization, especially since, recently, digital banking alternatives have grown in interest, with digital-friendly customers adopting such products more and more”, said Bogdan Hebean .
He emphasized that, in this context, he noticed a growing increase in the rate of adoption of BPA systems by the local banking sector, a trend he estimates will continue in the coming years.
Read more here: https://www.thebusinessresearchcompany.com/report/business-process-automation-global-market-report