Based on recent findings, the corporate automation market will continue to grow in the coming years. As noted by Gather, this industry is bound to experience a rise in value by $32 billion before the end of 2025. When this happens, the industry would have increased its size by almost three times in just five years.
In February 2022, the Workato Pattern Kickoff event was hosted, with more than 2,000 registrants in attendance. During the event, the participants were shown the technical improvements, product roadmap, frameworks, and the plans of the company to aid the growth of partners. During the meeting, the company showed how marketers have been benefiting massively from automation/integration technologies.
As claimed by Vijay Tella, the CEO, and co-founder of Workato, the company is automating three markets – iPaaS, robotic process automation, and full lifecycle API management.
The rebirth of iPaaS
Massimo Pezzini, the head of research at Workato, noted that more organizations will start spending more money on full lifecycle API management, iPaaS, and data integration equipment. On the other hand, they will reduce investment in managed file transfer, B2B gateway programs, and master data management. As a result of the change in the direction of the investment, it has been projected by iPaaS would get sales of 49 billion by 2025.
Therefore, you may want to know why this is expected to be so. Well, Workato stated that ease of use and variety are the two elements of the projected growth. These two elements make it easy for small and medium businesses with limited resources to invest in iPaaS.
Based on the current findings, about 17.7% of all the users of Marketo now combine iPaaS with Marketo instance. Also, around 44% of Marketo users integrating Marketo with iPaaS utilize Workato. Soon, more users are going to adopt the software.
Businesses continue to prioritize automation
CIOs are not just the only ones adopting integration technologies. Even businesses are also considering them to be essential for achieving corporate goals. As stated by Gartner, about 34% of all CIOs in the US are planning to invest more in APIs, integration technologies as well as API design. Without mincing words, more businesses will continue to prioritize automation of different areas of their transactions in the coming years.
In addition, automation technologies are also used on a comparison website. This makes it easier for customers to get detailed comparison of different entities as quickly as possible with little or no human input.
The importance of automation to corporate success
Perhaps you are wondering why several businesses are adopting automation technologies. This is because the technologies boost corporate success by offering numerous benefits such as:
- Human inputs often lead to several errors. Fortunately, businesses can reduce human inputs through automation which, in turn, lowers manual errors. This also optimizes their operations; thus, ensuring that they can be more efficient while still saving lots of money.
- Through automation, companies can simplify and also avoid some manual errors. As a result of this, they will be able to acquire useful insights and situation awareness that can aid the growth of their businesses.
- Automation allows businesses to change their historical process in small but meaningful steps. With this, the technology will allow company transformation and agility.
- Many businesses often face several challenges when trying to optimize the experience of their staff and customers. Luckily, automation can change the situation as it offers an intuitive, integrated, conversational, and uniform user interface. As a consequence of this, it will be easy for companies to enhance the experiences of their clients and staff.
- Lastly, automation eases the process of using innovation to build differentiation. It should be noted that the assemblage of “commodity” systems.
With these benefits, it is not surprising that an array of businesses are now investing in automation technologies.
Although automation has become imperative for several businesses, many of them are still not doing it the right way. This is because lots of companies don’t have an appropriate plan in place when trying to automate their business activities. According to Massimo, companies can build a successful automation plan by:
- Determining the things they want to achieve with automation
- Identifying the requirements
- Identifying other functional and non-functional needs
Companies should not hesitate to look for automation platforms such as Workato that can make it easy for them to automate their business processes. Also, they should ask relevant questions to get clarity for things that they don’t understand.
In a nutshell, business automation is an important step that can change the ecosystem of businesses. While many companies are interested in automation, they cannot achieve it alone. Therefore, it is paramount for them to invest in the right technologies that can ease the process of automating their business operations.