Quadrant Knowledge Solutions announced that it has named AuraQuantic as a 2021 technology leader in the SPARK Matrix analysis of the global intelligent business process management suites (iBPMS) market.
The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading iBPMS vendors in the form of its SPARK Matrix, which provides strategic information for users to evaluate different vendor capabilities, competitive differentiation, and market position.
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The iBPMS market is currently transitioning from early adoption to the rapid growth stage of the overall product lifecycle. While iBPMS has been around for several years, the increasing market traction across industry verticals and various geographical regions is due to the increased adaptation of digital means especially due to the pandemic and further advancements in the offering powered by artificial intelligence, machine learning, etc. Businesses around the world are turning to iBPMS, as it effectively automates and orchestrates their business processes. This function is performed through the collaborative efforts of people, data, and systems.
The Covid-19 pandemic has impacted the global economy with major industries across diversified areas facing significant challenges in addition to a negative growth rate. Covid-19 has also impacted the market for overall digital transformation and enterprise software, including the iBPMS market. However, the markets like iBPMS are witnessing simultaneous traction and surge in demand, as automated processes have helped reduce manual intervention and ensure enhanced process efficiency by increasing the visibility of processes at each step in the business process cycle. Additionally, the global iBPMS vendors are seeing a significant surge because of direct inquiries from various medium to large-sized organizations and their partner networks as well.
The iBPMS platform presents crucial key value propositions including – providing visibility throughout the process lifecycle, automating redundant processes, orchestrating people, data, & systems, and document management. The global demand for iBPMS is increasing due to the capability of the platform as it seamlessly provides an automated and enhanced user experience and easy to use drag-and-drop low code/ no-code platform. Additionally, the vendors are also providing user-friendly mobile application to update, access, and edit processes on the go. The tasks can be updated in offline mode and when it is back in the network it automatically updates and syncs with the system.
“AuraQuantic, with its comprehensive technology for managing end-to-end business processes, strong logic for complex automation, ease of use, scalability, and AI-driven solutions has received a strong rating across the parameters of technology excellence and customer impact. Further, it has been positioned amongst the technology leaders in the 2021 SPARK Matrix of the intelligent business process management suites (iBPMS) market”, said Pallavi Bothra, Analyst at Quadrant Knowledge Solutions. “The business rules engine, ease of integration, and deep logic to cover all business scenarios help organizations to easily scale and automate. The platform also comes with pre-built templates, components, wizards, and reusable elements for a seamless process flow. With its robust technology platform, comprehensive functional capabilities, and compelling product strategy and roadmap, AuraQuantic is well-positioned to expand its market share in the global iBPMS market.”
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“We are committed to helping companies worldwide to recover from the negative effects of the pandemic and build future-proof, agile enterprises that can rapidly respond to market changes and technological advances” said Pablo Trilles, AuraQuantic CEO. “We are thrilled to be positioned as a Leader in the 2021 SPARK Matrix for intelligent Business Process Management Suites, which is a reflection of our continuous innovations and most importantly our customer success.”