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DUBLIN--(BUSINESS WIRE)--The "Back Office Workforce Management Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Solution and End-Use Industry" report has been added to ResearchAndMarkets.com's offering.

The back office workforce management market size is projected to reach US$ 6,713.2 million by 2028 from US$ 3,601.4 million in 2022; the back office workforce management market share is expected to grow at a CAGR of 10.9% from 2022 to 2028.

Artificial intelligence (AI) has proven to be significant in workforce management tasks as it assists companies in maximizing performance, costs, and employee satisfaction. Organizations with huge employee strength - reflecting enormous opportunities across different business segments and geographies - may find it challenging to understand relevant and necessary skills and cross-check the eligibility criteria with the skills of job candidates.

Employers can use AI in workforce management to examine the skill sets of their current employees and to match them with the required skillsets defined by managers by considering their abilities, prior work experience, and preferred career choices. AI can also be utilized in performance evaluation, which is another area of workforce management.

AI-integrated solutions are capable of managing huge data; having reliable data at their disposal, they can produce reviews based on objective data rather than subjective human assessments, thereby enabling managers to evaluate employee performance fairly, without leading to any bias.

For instance, Kloud9, a key player in the market, provides Kloud9 Intelligent Workforce management talent studio, capable of performing analytics, forecasting, and capacity planning with the help of AI capabilities. Thus, the integration of AI with workforce management solutions is likely to introduce new trends in the back office workforce management market in the coming years.

Asia Pacific is one of the biggest producers and exporters of commodities in the world. India, China, South Asian countries, Indonesia, Japan, and Australia are the major contributors to such huge commodity production volumes. This region is known for the availability of a skilled workforce, supporting the operations of software, cars, food, medicine, cosmetics, machinery, and cloth manufacturing industries, among others.

Hence, large companies are progressively adopting workforce automation solutions to efficiently manage these workforces to streamline their productivity. Therefore, with the growing adoption of automation-based practices, employees are now turning to harness self-service technologies that can be accessed from anywhere without major barriers, which is propelling the growth of the market across the region.

Cloud-based workforce management solutions are gaining significant traction among Asian companies, which continuously feel the urge to maximize workplace productivity and reduce operating costs. In the current economic scenario of uncertainty and instability, all processes of organizations must be managed and implemented seamlessly. Workforce management systems play an important role in ensuring the smooth and flexible functioning of an organization.

The back office workforce management market growth in Asia Pacific is highly fragmented due to the presence of players such as Infor, IBM Corporation, Oracle, ADP, Krones Incorporated, and Workday Inc.

These companies are making substantial investments in research and development and are collaborating with other stakeholders on various projects. For example, in June 2021, ADP and Omnia partnered to provide payroll and human resource management solutions to government and educational organizations. The deal involved country governments and local government agencies, and with ~50 educational institutions in all states and ADP gained access to these solutions

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Future Trends

Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/mvvp3t

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Global Back Office Workforce Management Market Analysis Report 2022-2028: Integration of Artificial Intelligence & Demand for Mobile Workforce...