Press release
Back Office Workforce Management Market - 2022 by Manufacturers, Regions, Size, Share, Forecast to 2028 | by NICE Ltd, Open Text Corporation, Oracle Corporation
Applications for back-office workforce management assist employees in managing their absences and vacations, tracking time and attendance, and optimizing their schedules. Applications for back office staff management have different features depending on the sector. For instance, in the IT industry, employee portals and biometric services are integrated with HR software that is combined with a workforce management tool. The back office workforce management market is anticipated to develop at a CAGR of 10.9% from 2022 to 2028, from US$ 3,601.4 million in 2022 to US$ 6,713.2 million in 2028.
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Due to the COVID-19 pandemic, manufacturers' activities, including those of IT market participants, were only slightly hampered. As a result, product deliveries for workforce management in 2020 were only slightly affected. Due to lockdowns implemented in reaction to the disease's rapid spread, there is a considerable demand for remote employee productivity tracking solutions among IT developers. In 2020, numerous companies that make cars and electrical components as well as research and development teams started allowing back-office staff to work from home. As a result, the need for cloud-based workforce management systems has increased in the area.
To establish smart workplaces, businesses are increasingly favoring labor management tools based on mobile apps. They could lose a lot of money if they refuse to embrace the advantages of mobility because it will lead to inefficiencies and dissatisfaction among their staff. An employee experience that is consistent is made possible through a mobile application. Businesses may distribute hyper-local content and notify staff members in real-time by using location monitoring. When location monitoring is incorporated into the application, it further enables the delivery of pertinent and timely experiences while boosting worker effectiveness, productivity, and engagement. The official day count of employees as well as other pertinent data can be easily entered into data systems using mobile applications. Apps act as a central hub, integrating all management-related digital touchpoints into a streamlined, user-friendly platform. Businesses may ensure that employees are productive both on campus and at home by making all work-related information available on a single app. Through official mobile apps, management teams may interact and coordinate with employees and the company as a whole. Additionally, these apps can automatically record the time workers arrive at a particular workstation. These advantages of mobile app-based workforce management systems are opening up new growth prospects for back office workforce management market participants.
Division Segment:
Robotic process automation, performance management, back office optimization, process analytics, and other solutions are included in the back office workforce management market study by solution. The back office workforce management market share held by robotic process automation was the largest in 2021. Software technology known as robotic process automation (RPA) makes it easier to build, use, and manage software robots that mimic human behaviour by interacting with hardware and software. Like people, software robots can navigate the web, navigate by using the right keystrokes, and comprehend what is displayed on the screen Perform several predetermined operations, including data identification and extraction. RPA promotes corporate profitability, flexibility, and responsiveness by streamlining workflows. By removing repetitive daily tasks, it also improves employee satisfaction, engagement, and productivity.
The back office workforce management market is divided into IT and telecom, BFSI, retail and e-commerce, transportation, government, and others. This is according to an analysis of the market by end-use industry. The greatest back office labour management market share in 2021 was held by the IT & telecom sector. Telcos need to keep their task and workflow management systems running smoothly to handle traffic and handle consumer demands more quickly. Compared to traditional ordering systems, where staff must manually enter new customer information or rearrange existing services and workflow management systems are growing in popularity. The workflow management systems frequently offer web-based access to end users. Over 90% of customers want companies to provide self-service portals so they can manage their accounts, brands, and businesses, according to survey data from a customer service provider.
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Regional Analysis:
Geographically, the back office workforce management market is dominated by the North American region, followed by the European region, due to the region's increased technology improvements and trend toward grid system digitalization. Due to an increase in population over the anticipated period, the Asian-Pacific area is anticipated to have faster growth.
Competitive Analysis:
Some of the major players in the market are:
● NICE Ltd.
● Open Text Corporation
● Oracle Corporation
● Genesys
● Alvaria, Inc.
● Verint Systems, Inc.
● ActiveOps PLC
● Calabrio Inc.
● Intradiem
● Team Software
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