WalkMe Introduces Workflow Accelerators to Eliminate Friction in Workflows
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Insights
WalkMe Ltd.'s announcement of Workflow Accelerators represents a strategic enhancement of its digital adoption solutions, which could potentially lead to increased market competitiveness and customer retention. By focusing on reducing friction in mission-critical workflows, WalkMe is addressing a core pain point for businesses in various sectors. This move is likely to resonate with enterprises looking to improve operational efficiency and employee productivity, which are key drivers of business performance.
From a market perspective, the integration of best practices and insights from extensive deployments signals a robust, data-driven approach to product development. This could strengthen WalkMe's value proposition and differentiate its offerings in the digital adoption space. The emphasis on customizable solutions aligns with the growing demand for tailored software experiences, potentially expanding WalkMe's addressable market.
Furthermore, the positive feedback from beta testing suggests that the new solutions are well-received by users, which could translate into higher adoption rates and, consequently, revenue growth for WalkMe. However, it is essential to monitor the execution of these solutions and their actual impact on business outcomes to assess their long-term viability.
WalkMe Ltd.'s unveiling of Workflow Accelerators is likely to be a strategic move to enhance its product suite and drive revenue growth. By offering predefined solutions that are based on best practices and insights from a significant number of deployments, WalkMe is leveraging its existing data to create value for its clients. This could potentially lead to increased customer acquisition and upselling opportunities.
Investors should consider the potential for these Workflow Accelerators to contribute to margin improvement through economies of scale. As more clients adopt these solutions, WalkMe's cost of service delivery per customer could decrease, improving profitability. Additionally, the focus on key business domains such as HR, Sales, IT and Finance suggests a targeted approach that could lead to deeper penetration in these verticals.
It is also crucial to evaluate the competitive landscape and WalkMe's market share post-implementation of these accelerators. If the company can successfully capitalize on this innovation and convert it into a sustainable competitive advantage, there could be positive implications for its stock performance. However, investors should remain cautious and look for tangible evidence of revenue impact in upcoming financial statements.
The introduction of WalkMe's Workflow Accelerators is a significant development in the realm of digital adoption platforms. By providing a set of predefined solutions that can be customized to specific business needs, WalkMe is enabling organizations to streamline their workflow adoption and improve software utilization. This is particularly relevant in today's fast-paced technology environment where organizations are constantly seeking ways to rapidly adapt to new software and processes.
The ability to overlay these accelerators onto existing workflows across various applications is a testament to the flexibility and scalability of WalkMe's platform. By focusing on eliminating digital friction, the company is directly contributing to the optimization of digital assets, which is a critical factor in enhancing overall business productivity and efficiency.
For organizations, the long-term benefits include not only immediate gains in productivity and efficiency but also the potential for improved compliance and risk management. By simplifying complex processes and providing clearer visibility into workflow adoption, WalkMe's solutions could also play a role in supporting better decision-making and strategic planning within enterprises.
Customizable solutions increase process effectiveness, reduce risk, and boost employee productivity by eliminating friction in mission-critical workflows for HR, Sales, IT, and Finance
SAN FRANCISCO, Feb. 20, 2024 (GLOBE NEWSWIRE) -- WalkMe Ltd. (NASDAQ: WKME), a leading provider of digital adoption solutions for effectively navigating technology change, today unveiled Workflow Accelerators — a robust set of predefined solutions for eliminating friction in key workflows — revolutionizing the way businesses address workflow inefficiencies. By identifying the difficulties people face when interacting with software and removing friction in mission-critical workflows such as employee onboarding, sales opportunity management, and IT service requests, enterprises can improve software adoption to drive measurable business outcomes including revenue growth, productivity, efficiency, and compliance.
WalkMe’s Workflow Accelerators are based on best practices and insights from over 600,000 deployments and 7 billion annual user interactions across 2,000 global enterprises. Each Workflow Accelerator identifies the most common places users run into trouble, and is mapped to a set of fully-customizable templates that contain predefined WalkMe in-app guidance, automations, data validation, and more. Workflow Accelerators overlay onto specific workflows, task by task, across any number of applications to eliminate friction and drive effective and efficient workflow adoption among users.
According to the 2024 State of Digital Adoption Report,1
"Visibility into which workflows are adopted or impeded across a business will be increasingly crucial for organizations as they build cross-functional work models. WalkMe’s Digital Adoption Platform enables clients to quickly identify issues in their critical business workflows, optimizing end-to-end processes and driving value for digital adoption success,” said Amy Loomis, research VP, Future of Work, IDC Research.
"Workflows are the backbone of every business. When they don't run smoothly, business outcomes suffer,” said KJ Kusch, global field CTO for WalkMe. "WalkMe is the only Digital Adoption Platform that meets customers where they are in their digital maturity, empowering business leaders to see where people are struggling and where processes fall short across critical workflows — and proactively fix that digital friction across applications. This new approach to digital adoption allows businesses to optimize workflows, maximize software investments, and become pros at managing the constant cycle of technology change."
WalkMe customers have been using Workflow Accelerators in beta testing to increase effective employee adoption of their workflows, achieving significant results.
"With Workflow Accelerators, WalkMe provides time-saving, pre-built solutions that help resolve friction in our sales processes and overall user experience,” said Andrea Rodriquez, senior enablement systems digital adoption manager, Okta. “This content not only helps our builders accelerate the overall execution of critical WalkMe deliverables, but also inspires new ideas and solutions that help drive sales productivity."
"Any organization with complex workflows in their employee experience would benefit from WalkMe's Workflow Accelerators as a way to fast track improvements to employee productivity and compliance, and ultimately business success,” said Nikki Merchant, workflow systems analyst, Thrive Pet Healthcare.
“We’ve accomplished
WalkMe’s predefined solutions for key workflows across business domains include:
- Human Resources workflows such as employee separation, job change, candidate recruitment, and compensation management.
- Sales workflows such as configuring price quotes, order management, opportunity management, and forecasting.
- Information Technology workflows such as service request fulfillment, access management, and incident management.
- Finance workflows such as vendor onboarding, contract lifecycle management, and travel management.
- Other domains including operations and supply chain, customer service, engineering, security, enterprise portfolio and project management, etc.
WalkMe Workflow Accelerators accelerate time to value for digital adoption, driving faster results and business impact. Now, business leaders across domains can more quickly and easily create a frictionless user experience customized and configured to align with their unique workflow requirements. To learn more about WalkMe Workflow Accelerators, visit walkme.com.
12024 State of Digital Adoption report, commissioned by WalkMe
About WalkMe
WalkMe (WKME) pioneered the world’s leading Digital Adoption Platform (DAP) so companies can effectively navigate the constant change brought on by technology. With WalkMe, organizations drive enterprise productivity and reduce risk by ensuring consistent, responsible, and efficient adoption of software and the workflows it powers. Our AI-driven platform sits on top of an organization’s tech stack, identifies where people experience friction, and delivers the personalized guidance and automation needed to get the job done, right in the flow of work. Customers like IBM, Nestle, ThermoFisher Scientific, and the U.S. Dept. of Defense trust WalkMe to create the people-centric experiences required to boost the effectiveness of their workflows and maximize software ROI.
Special Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: our ability to manage our growth effectively, sustain our historical growth rate in the future or achieve or maintain profitability; the impact of the COVID-19 pandemic or adverse macro-economic changes on our business, financial condition and results of operations; the growth and expansion of the markets for our offerings and our ability to adapt and respond effectively to evolving market conditions; our estimates of, and future expectations regarding, our market opportunity; our ability to keep pace with technological and competitive developments and develop or otherwise introduce new products and solutions and enhancements to our existing offerings; our ability to maintain the interoperability of our offerings across devices, operating systems and third-party applications and to maintain and expand our relationships with third-party technology partners; the effects of increased competition in our target markets and our ability to compete effectively; our ability to attract and retain new customers and to expand within our existing customer base; the success of our sales and marketing operations, including our ability to realize efficiencies and reduce customer acquisition costs; the percentage of our remaining performance obligations that we expect to recognize as revenue; our ability to meet the service-level commitments under our customer agreements and the effects on our business if we are unable to do so; our relationships with, and dependence on, various third-party service providers; our dependence on our management team and other key employees; our ability to maintain and enhance awareness of our brand; our ability to offer high quality customer support; our ability to effectively develop and expand our marketing and sales capabilities; our ability to maintain the sales prices of our offerings and the effects of pricing fluctuations; the sustainability of, and fluctuations in, our gross margin; risks related to our international operations and our ability to expand our international business operations; the effects of currency exchange rate fluctuations on our results of operations; challenges and risks related to our sales to government entities; our ability to consummate acquisitions at our historical rate and at acceptable prices, to enter into other strategic transactions and relationships, and to manage the risks related to these transactions and arrangements; our ability to protect our proprietary technology, or to obtain, maintain, protect and enforce sufficiently broad intellectual property rights therein; our ability to maintain the security and availability of our platform, products and solutions; our ability to comply with current and future legislation and governmental regulations to which we are subject or may become subject in the future; changes in applicable tax law, the stability of effective tax rates and adverse outcomes resulting from examination of our income or other tax returns; risks related to political, economic and security conditions in Israel; the effects of unfavorable conditions in our industry or the global economy or reductions in information technology spending; factors that may affect the future trading prices of our ordinary shares; and other risk factors set forth in the section titled “Risk Factors” in our Annual Report on form 20-F filed with the Securities and Exchange Commission on March 14, 2023, and other documents filed with or furnished to the SEC. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Media Contact:
press@walkme.com
Investor Contact:
investors@walkme.com
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