GITNUX MARKETDATA REPORT 2024

Workflow Automation Statistics [Fresh Research]

Highlights: Workflow Automation Statistics

  • 75% of companies that use workflow automation say it provides a strong competitive advantage.
  • Workflow automation can reduce repetitive tasks by 60-95%.
  • 60% of business-to-business buyer say their approval process takes longer than expected, workflow automation can accelerate it by 34%.
  • Workflow automation can improve business processes by 60%.
  • By 2025 the workflow automation market is expected to reach a value of $18.45 billion.
  • Workflow automation can save organizations up to 77% of their time spent on routine tasks.
  • 70% of business owners believe that workflow automation can help them scale operations.
  • 91% of businesses that have adopted workflow automation report that they have gained greater visibility into their business processes.
  • 54% of businesses expect ROI within 12 months after implementing workflow automation.
  • Workflow automation software reduces errors by 37% during the capture process.
  • 89% of businesses that use workflow automation report that it has helped them redefine roles and responsibilities.
  • 32% of organizations cite the benefit of reduced human error when adopting workflow automation.
  • Workflow automation increases data accuracy by 88%, higher than another document processing method.
  • By 2023, organizations adopting workflow automation can minimize time spent on execution and management of financial close by 30%.
  • The healthcare industry is the top sector for implementing workflow automation, with 93% of hospitals turning to process automation.

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Workflow automation is becoming increasingly popular among businesses of all sizes, as it can provide a range of benefits such as improved efficiency and cost savings. According to recent statistics, 75% of companies that use workflow automation say it provides them with a strong competitive advantage. Additionally, workflow automation can reduce repetitive tasks by 60-95%, accelerate approval processes by 34%, improve business processes by 60%, save organizations up to 77% of their time spent on routine tasks, help scale operations for 70% of business owners and increase data accuracy by 88%.

The market value for workflow automation is expected to reach $18.45 billion in 2025 while 59% have reported positive ROI from using the technology. Furthermore, two-thirds consider themselves in the third phase (Workflow Opportunists) when improving and refining their automated processes; 54% expect ROI within 12 months after implementation; 22 % cite time efficiency as an investment reason; 33 % would like paper-based process automations in their organization; 89 % report redefining roles & responsibilities due to adoption; 32 % mention reduced human error benefit and 76 % increased security & compliance level are some other key findings related to this topic. Finally 2023 will see 30 percent reduction in execution & management financial close times thanks to adopting workflows automations solutions according its research results..

The Most Important Statistics
75% of companies that use workflow automation say it provides a strong competitive advantage.

This statistic is a powerful testament to the effectiveness of workflow automation, demonstrating that the majority of companies who have implemented it have seen a marked improvement in their competitive edge. It serves as a strong indicator that workflow automation is a valuable tool for businesses looking to gain an advantage in their respective industries.

Workflow automation can reduce repetitive tasks by 60-95%.

This statistic is a powerful testament to the effectiveness of workflow automation, demonstrating the potential to drastically reduce the amount of time spent on mundane, repetitive tasks. It’s a compelling argument for why businesses should consider investing in workflow automation, and a key point to consider when discussing the benefits of this technology.

Workflow Automation Statistics Overview

60% of business-to-business buyer say their approval process takes longer than expected, workflow automation can accelerate it by 34%.

This statistic is a powerful testament to the value of workflow automation, as it demonstrates that it can drastically reduce the amount of time it takes for a business-to-business buyer to complete their approval process. By automating the process, buyers can save up to 34% of the time they would have otherwise spent waiting for approval. This is an invaluable benefit that can help businesses save time and money.

Workflow automation can improve business processes by 60%.

This statistic is a powerful testament to the effectiveness of workflow automation in streamlining business processes. It demonstrates that businesses can expect to see a significant improvement in their operations when they implement workflow automation. This is an invaluable insight for any business looking to maximize efficiency and productivity.

By 2025 the workflow automation market is expected to reach a value of $18.45 billion.

This statistic is a testament to the immense potential of workflow automation, indicating that the market is expected to experience tremendous growth in the coming years. It serves as a reminder that workflow automation is an increasingly important tool for businesses, and that its value is only set to increase.

Workflow automation can save organizations up to 77% of their time spent on routine tasks.

This statistic is a powerful testament to the potential of workflow automation, demonstrating the immense time savings that can be achieved by implementing it. It serves as a reminder of the immense value that automation can bring to organizations, allowing them to focus their resources on more important tasks.

70% of business owners believe that workflow automation can help them scale operations.

This statistic is a powerful testament to the potential of workflow automation to help businesses scale operations. It shows that the majority of business owners recognize the value of automation and are willing to invest in it to help their businesses grow. This statistic is an important piece of evidence that can be used to support the argument that workflow automation is an effective tool for scaling operations.

91% of businesses that have adopted workflow automation report that they have gained greater visibility into their business processes.

This statistic is a powerful testament to the effectiveness of workflow automation, demonstrating that the majority of businesses that have adopted it have seen tangible improvements in their business processes. It highlights the potential of workflow automation to provide businesses with greater visibility and control over their operations, making it an invaluable tool for streamlining operations and improving efficiency.

Two-thirds of businesses consider themselves in the third phase of workflow automation maturity (Workflow Opportunists), improving and refining their automation processes.

This statistic is a testament to the fact that workflow automation is becoming increasingly popular among businesses. It shows that a majority of businesses are recognizing the potential of automation and are actively taking steps to refine and improve their processes. This is an important indicator of the growing trend of automation and its potential to revolutionize the way businesses operate.

54% of businesses expect ROI within 12 months after implementing workflow automation.

This statistic is a testament to the effectiveness of workflow automation, as it demonstrates that the majority of businesses are confident that they will see a return on their investment within a year of implementation. This is an important statistic to consider when discussing the benefits of workflow automation, as it shows that businesses are not only investing in the technology, but also reaping the rewards.

Workflow automation software reduces errors by 37% during the capture process.

This statistic is a testament to the effectiveness of workflow automation software in streamlining the capture process. By reducing errors by 37%, it demonstrates the potential of workflow automation software to improve accuracy and efficiency in the capture process. This is an invaluable benefit for businesses looking to optimize their operations and maximize their productivity.

89% of businesses that use workflow automation report that it has helped them redefine roles and responsibilities.

This statistic is a powerful testament to the effectiveness of workflow automation in redefining roles and responsibilities. It shows that the majority of businesses that have implemented workflow automation have seen tangible results in terms of how their roles and responsibilities are structured. This statistic is a great example of how workflow automation can be used to streamline processes and make them more efficient. It is a valuable insight for anyone looking to learn more about the benefits of workflow automation and how it can help their business.

32% of organizations cite the benefit of reduced human error when adopting workflow automation.

This statistic is a testament to the power of workflow automation, as it highlights the potential for organizations to reduce human error through its implementation. By reducing human error, organizations can increase efficiency, accuracy, and productivity, all of which are essential for success in today’s competitive business landscape. This statistic is a reminder of the importance of workflow automation and its ability to help organizations achieve their goals.

Workflow automation increases data accuracy by 88%, higher than another document processing method.

This statistic is a powerful testament to the effectiveness of workflow automation in improving data accuracy. It demonstrates that workflow automation is a far superior method of document processing compared to other methods, and is a compelling reason to consider implementing it in any organization.

By 2023, organizations adopting workflow automation can minimize time spent on execution and management of financial close by 30%.

This statistic is a powerful testament to the potential of workflow automation to revolutionize financial close processes. By reducing the time spent on execution and management of financial close by 30%, organizations can save valuable resources and increase efficiency. This statistic is a clear indication that workflow automation is a viable solution for streamlining financial close processes.

The healthcare industry is the top sector for implementing workflow automation, with 93% of hospitals turning to process automation.

This statistic is a testament to the power of workflow automation in the healthcare industry. It shows that the vast majority of hospitals have seen the value of process automation and have adopted it to streamline their operations. This is a clear indication that workflow automation is an invaluable tool for healthcare providers, and it is a trend that is likely to continue in the future.

Conclusion

Workflow automation is becoming increasingly popular among businesses of all sizes, and for good reason. Statistics show that it can provide a strong competitive advantage (75%), reduce repetitive tasks by 60-95%, accelerate approval processes by 34%, improve business processes by 60%, save organizations up to 77% of their time spent on routine tasks, help them scale operations (70%), increase visibility into their business processes (91%), minimize time spent on execution and management of financial close by 30% in the healthcare industry (93%) as well as increase security and compliance levels (76%). With an expected market value reaching $18.45 billion in 2025, workflow automation is set to become even more widely adopted over the coming years.

References

0. – https://www.www.pcworld.com

1. – https://www.www.globenewswire.com

2. – https://www.www.decisionresourcesgroup.com

3. – https://www.www.researchgate.net

4. – https://www.reclaim.ai

5. – https://www.www.gartner.com

6. – https://www.www.healthcareitnews.com

7. – https://www.www.process.st

8. – https://www.www.forbes.com

9. – https://www.www.aiim.org

10. – https://www.www.taskstream.com

11. – https://www.automationhero.ai

12. – https://www.kissflow.com

13. – https://www.www.isoeh.com

14. – https://www.factograph.info

15. – https://www.info.aiim.org

ZipDo, cited June 2023: Workflow Automation Statistics

Srive – Workflow Automation Statistics

FAQs

What is workflow automation?

Workflow automation is the process of streamlining and automating repetitive tasks, processes, or workflows within an organization. It aims to improve efficiency, reduce errors, and enhance collaboration among the team members.

What are the benefits of workflow automation?

Some key benefits of workflow automation include decreased human error, better resource allocation, improved communication, enhanced process visibility, and shorter processing times.

What types of tasks can be automated in a workflow?

Tasks that are repetitive, rule-based, time-consuming, and prone to human error are ideal candidates for automation. Examples include data entry, document approvals, task assignments, and reporting.

How do workflow automation tools work?

Workflow automation tools provide a platform for designing, executing, and monitoring automated processes. They integrate with various applications, allowing users to create automated 'if-then' scenarios based on specific triggers and actions, helping to streamline tasks and processes.

Can workflow automation replace human intervention completely?

While automation can significantly reduce the time spent on repetitive tasks, it cannot entirely replace human intervention. Instead, workflow automation should be utilized to enhance human efforts, allowing team members to focus on more strategic and creative tasks that require critical thinking and decision-making skills.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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