There has been a huge increase in the use of the Approval Management Software since the goal of every business owner and manager is to have a faster and accurate output. As a professional, you want the best from your organization, and one of the ways this can be achieved is by using an approval management software.
New trends in approval management software have emerged over the decade bringing with it technologies that an organization can benefit from. Your ability to utilize the potentials of this tech trend cannot be limited by your portfolio or status in the organization.
Businesses have continued to expand in 2018 and more companies have embraced Approval Management Software which enables employees to focus on strategic and automatic operations.
Top Approval Management Software Trends for 2020 you should know about
Trend #1 – User-friendly interface
First of all, it is likely to keep in mind that modern user-friendly interface for corporate software becomes even more important trend year after year and stays actual for 2020. Employees who are Millennials will find it easier to adapt to job-related technologies that are like every day social media platforms and it is risky for business to get Millennials uncomfortable with corporate software. Businesses that are interested in gathering the best talents of the modern generation will integrate systems that are comfortable and easier for use.
Trend #2 – Artificial Intelligence (AI)
Despite the growing reports on Artificial Intelligence, the bulk of the information is consumer based. Apple Siri, Amazon’s Echo and Google’s Home technologies have increasingly dominated the homes, we are yet to experience the anticipated AI that will have a positive impact on the processes of workflow in the business environment.
AI will interact with workflow resources and respond to your strategic plans with suggestions that will improve on your work efficiency. In some way, AI is acting on projects by some online tools which are independent of papers and a centralized database that can be assessed by anyone.
While we are expecting the successful evolution of AI, industry players are keeping a tap on the advances in its development so it can be fully applied in business processes.
Trend #3 Low-code platforms for faster app delivery
The modern business demands tech solutions that can be delivered at a faster pace than before which are available in the low-code platforms. With such systems, people with no coding skills can design workflow processes with amazing features to perform the expected tasks. This is the season for visual workflow automation, which will necessarily be accepted by entrepreneurs who are looking for a faster delivery app.
Besides, there is an increasing demand for fully operational automated processes by businesses that require built-in solutions with the possibility of personalization in a few days. Most IT leaders have attested to the role of low-code solutions in maintaining a positive business partner relationship between IT pros and executives within companies, while empowering business users to create business app pilots and shortening solution development cycle.
Trend #4 The Greatest Desire if for Data
In all the organizations of the world, data is the asset. Workflow automation allows for ease of collation, analysis, and usefulness of the data. As automation of workflow routines has become operational in companies, there is an increasing demand for speedy analysis and dissemination of data. There will be a desire to predict trends, maximize profits and generate more opportunities through the data from the workflow system. Organizations will rather prefer platforms that will enable them to respond quickly.
Trend #5 Increased Workforce Collaboration
Data sharing and chat have become the most vital means for information sharing in our today’s business world. These tools are very useful in Approval Management Software solutions. For example, features like process related alerts and data integration could limit seemingly archaic communication media that bogs down various workplaces regardless of the area of business.
Gartner had predicted the effect of chatbot on various businesses and organizations in the world. In this prediction that over 85% of customer service communications will be independent of human interaction is gradually becoming a reality.
The integration of a chatbot service with an approval management software solution will reduce the hiccups that usually exists between customers and companies.
Trend #6 Process Mining will be applied in many of the industries
Many companies are not considering the integration of Process mining in their projects. Their potentials are currently being studied by universities and how they would be applied in various industries. Currently, organizations have spent huge resources on the modeling of data because they have limited information on AS-IS processes. The role of process mining is to enable the user to extract information from transaction and events for the discovery of models that can clearly describe the processes. Through this, the time required for the modeling of processes will be reduced and project management will be more optimized.
Trend #7 Rapid connection to existing ERP
The entire problem of the company cannot be solved by an ERP software only and experts . Rather, there is a need for the integration of other software for effective automation of business processes and desired process agility. This problem can be mitigated with the use of BPMS (Business Process Management System).
“BPM platforms, by integrating the core capabilities of ERP systems seamlessly, enable businesses to create full process support applications involving multiple users across functional areas” – Haleem Vaince, head of BPM Advisory Consulting CoE for EAI BPM service line at Mindtree.
So, in 2018 it got likely to rely on existing ERP for data storage and welcome BPMS for orchestrating approval workflows and data handling and it results in huge time and financial savings.
Approval Management Software allows businesses and organizations to achieve their goals through a completely automated process. These tools can be used to catch up with an ever-changing tech business world. Adapting to new tech demands requires you to follow this trend. Your objective is to increase your business in all ramifications, which can only be achieved by employing these tools in your organization.