What’s RPA? It is called the Robotic process automation and it involves using software bots or robots that can mimic a human worker to capture internet apps for processing a task, a transaction, Manipulating data and triggering responses. An Organisation can make use of RPA in multiple process and services and to start with where the work is mundane & repetitive. The bots help organisations achieve ROI with significant error reductions, Reducing resource costs and a faster turn around time.
There’s no machine learning capability here, there’s no AI in the bots. “You’re simply mimicking the keystrokes of the human — the mouse clicks, the movements. The bot is simply doing that work that the human is doing albeit at a much faster rate and accuracy.
RPA involves bots into 3 broad categories: Probots, knowbots and chatbots. RPA bots can learn. They can also be cloned. Start thinking of Automation since now the world is also thinking about it. It is estimated that up to 45 per cent of the activities companies pay people to perform can be automated through RPA.
How it is different from other enterprise tools?
The automation market is predicted to be the second most impactful after mobile internet. You should Adopt RPA for it’s fastest ROI among enterprise tools. NASSCOM reports extensive cost savings of up to 65% for onshore operations, 30% in offshore delivery, and investment recovery in as short as 6 months.
According to the third annual Deloitte survey, 78% of the business professionals plan to invest even more in the next 3 years and RPA will achieve “near universal adoption” in the next 5 years. Interestingly, Deloitte also reports that employee resistance is at only 17% which is quite low among adopting organizations.
What are the key benefits for Adopting RPA?
RPA is a customizable technology solution and yet remains one of the fastest to implement. some of the key benefits while adopting RPA is – Cost reduction or savings – Reduction of Data related errors & improved compliance – fast service – Employee benefits such as higher work satisfaction, retention and productivity.
McKinsey predicts the additional labor productivity because of RPA is expected to be equivalent to the output of between 110 million and 140 million workers globally.
How should I begin with RPA? At daas labs we begin with simpler tasks which are daily and mundane. Identify processes within the company which will help you get the maximum yield when automated. It could be one of the processes where you are facing delays, concerns and high utilisation of employees.
- Get management team buy in and run a pilot.
- Evaluate the benefits
- go ahead with the complete project.
- Go live and maintain the RPA installation
What’s the future looks like?
The RPA adoption is slightly more than $1 billion and expected to reach 2.5 Billion by the end of 2020. By 2027 it is expected to be more than $10 Billion. According to a report on RPA predictions published by Capgemini, RPA is currently used by only 39 per cent of businesses. There is a huge adoption set to follow.
Organisations prefer RPA because it does not disrupt the existing systems or processes. It has the capability of automating the existing infrastructure using the same infrastructure. Most people even confuse RPA with AI and Machine Learning because of the technical term, however, there is a difference, RPA is process-driven while Artificial Intelligence and Machine Learning are data-driven.
AI and ML are the next steps of the RPA implementation, when there is a need to integrate RPA and AI. What if you have more questions?
Get in touch with us at firstname.lastname@example.org and mention RPA in the subject. We will call you at the earliest. Or just drop us a line here https://daaslabs.ai/contact-us/