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Process Automation Process automation has been around for many years and is nothing new in itself. It started with Straight Through Processing (STP) in the mid-nineties which was a key feature of Workflow Management systems. STP was first applied in the financial industry aiming at performing processes without human involvement for example transferring information from one party to another as part of the settlement process without having to enter it manually again. However, this was only applicable to very few processes. For this reason, Workflow Management systems have evolved into Business Process Management (BPM) systems. Business Process Management combines „methods, techniques, and tools to support the design, enactment, management, and analysis of operational business processes”. The decisive deficiency of BPM-solutions is that they are very expensive due to the "inside-out" approach where the system has to be developed from scratch thus leading to long implementation times.

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Process Automation

Process automation has been around for many years and is nothing new in itself.
It started with Straight Through Processing (STP) in the mid-nineties, which was a key feature of Workflow Management systems. STP was first applied in the financial industry aiming aimed at performing processes without human involvement, for example, transferring information from one party to another as part of the settlement process without having to enter it again manually again. However, this was only applicable to very few a few processes. For this reason, Workflow Management systems have evolved into Business Process Management (BPM) systems.
Business Process Management, "Combines methods, techniques, and tools to support the design, enactment, management, and analysis of operational business processes". The decisive deficiency of BPM-solutions is that they are very expensive due to the "inside-out" approach, where the system has to be developed from scratch, thus leading to long implementation times.

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