PROCESIO, the company that standardizes how users create, monitor, and maintain processes across applications and Modex, a leading Blockchain Database provider are teaming up to deploy no/low-code-backed blockchain automation that can respond to business needs across a multitude of industries.
The two technical teams have begun work on integration between PROCESIO and Modex Blockchain Database (BCDB) in order to produce the first business flows that showcase the synergy between the security, integrity and transparency brought by enterprise-grade blockchain technology and the efficiency of low-code workflow automation. Following extensive technical research, Modex and PROCESIO have jointly identified multiple use cases that take advantage of PROCESIO’s low code process handling platform and Modex BCDB as a tool for storing, sharing, tracking, and managing sensitive business data.
Commenting on the partnership, Mihai Ivascu, Modex CEO and Co-founder, said: “I am delighted to welcome PROCESIO as a trusted partner. As our teams value innovation and they are working passionately to create a better tomorrow through smart technologies, I am certain that we will achieve great things together. Our flagship product, Modex BCDB, transforms the way data is stored, secured and shared, and by joining forces with PROCESIO we can offer even more value to customers.”
Marian Voicu, Co-Founder & Deputy CEO PROCESIO, stated: “The partnership with Modex validates once again the innovation brought by PROCESIO. Together with Modex we will be able to accelerate the implementation projects of their product, but also to come to our customers with integrated automation proposals at the level of flows and bases. “In the long run, we will create integrated solutions packages for businesses in different industries, companies that are under tremendous pressure to accelerate digitization and migrate to more efficient technical solutions.”
The partnership between the two companies comes in a favorable context for the tech industry. According to KBV Research, the global business process automation (BPA) market will reach a total value of $19.4 billion by 2026, with an annual growth rate of over 13%. At the same time, Gartner estimates that the industry developing low-code technologies is growing at an even faster rate, with over 22% in 2021 compared to 2020, amounting to 13.8 billion USD last year. According to other studies, by 2030 the total revenues of companies developing low-code platforms will exceed $190 billion globally.