Leading Research firms in the US have stated that the existing worldwide market scene for Robotic Process Automation is worth well over millions of US dollars in every automation focused enterprise. This trend is actually expected to swell to over 8.75 billion USD by the year 2024.
The adoption of Robotic Process Automation (RPA) has been a novelty for enterprises ever since they identified its ability to enhance operation control has been recognized by organizations and employees the world over.
The adoption of RPA software on the other hand stands for massive shift from a people based model to software based model. Such an elemental change in the business approach can be Revolutionary for most organizations. Given below are the broad business benefits of RPA:
1. Complements the speed of business innovation
Being an accelerated solution RPA is simple to construct, easy and fast to implement when contrasted with conventional solutions. The interfaces within this tool are highly intuitive and do not need resources with high skill sets. An RPA solution sets itself apart from other products by linking with existing applications used in the preexisting enterprise environment instead of overhauling existing systems. It’s highly non-disruptive and integrated nature is greatly conducive for Enterprises looking to introduce change into business processes without causing business loss and downtime.
Along with countless applications coming up every day, customer data seems to be scattered across organizations. When search data is updated manually in respective systems the turnkey processes that are involved with the data including customer interaction can suffer very real delays. Robotic process automation aims to bridge the gaping distance between several systems to offer if not wholly real time at least nearly real time updates. Manual tasks can be greatly accelerated with a much higher degree of accuracy using software. This will also mean employees getting the time they need to focus on customer interactions which are the central focus of every company. Customers will also benefit from the employees having more time for value based tasks.
4. Increased Productivity and quick ROI
RPA market is projected to grow at a great pace doubling every half year reaching over 5 billion US dollars by the year 2020 itself. Adoption of Robotic Process Automation technology is gaining a lot of momentum and this can be attributed to highly accurate results and as mentioned earlier. A quicker return on investment is also a great benefit. It is an obvious fact that robots have higher decrease of efficiency than human ploys as they can function 24 hours day and Sunday to be provided there is constant supply of electricity. Robotic Process Automation on proof-of-concept basis can be done within the time period of a few weeks and without affecting mainstream it processes and infrastructure. And the actual Robotic Process Automation rollout can be done in a period of few months as opposed to a few years as earlier thought.
Conventional approaches to business process automation become almost obsolete with it becoming critical to tap into emerging Technologies such as RPA.
RPA Tech permits a software robot to imitate human behavior. For instance it care make its way enterprise software such as FSM software ERP systems or even service management tools. This can be done using application user interfaces just as a human would. What’s the difference with the robot is that it is able to work at exponentially higher speeds with water efficiencies without even slowing down. But RPA also has limits with machine learning and AI and such limits can be leveraged with smart machines.
How RPA fits into a Corporate Ecosystem
According to Gartner industry research it has been revealed that accounting and finance can benefit greatly from RPA software eliminating time consuming processes which are manual and which makes up an accountant daily work. RPA ends up offering data access in a real time basis to financial data along with analytic and reporting capabilities.
Professionals in the financial domain are contributing value from a strategic perspective through the consistent use of RPA. This will boost the bottom line of a company.
RPA is a method to take on internal processes and streamlining those deals with people and technology playing their part in perfect sync. This will allow for greater insight into opportunities and Trends for businesses worldwide. Robotics process automation works well with regular tasks, time bound and that needs manual inputs. Software robot makes use of application user interfaces and uses very few alterations if needed for execution of the task.
For more on this article: https://www.zarantech.com/blog/business-benefits-of-robotic-process-automation/
RPA is the way of the future and is change that can be implemented in a highly scalable manner. Such automation will ensure that employees benefit as much as organizations by working with people and not in direct competition with them. This means reduced job displacement and happier employees. Robotic Process Automation is essential for anyone to succeed in today’s fast paced IT market.