Robotic Process Automation (RPA) helps companies automate high-volume, repetitive tasks on a regular basis which allows your human employees to focus more on their high-value core competencies. Automation rids your skilled employees of tedious form-filling and data entry tasks, and can result in a happier workforce. By analyzing and detailing what customers want to watch, listen, ponder or feel, RPA can also be used as a strategic resource to provide a fast and intuitive overall customer experience which ultimately paves the way towards customer success.
RPA Market Growth and Predictions
The growing importance and popularity of Enterprise Resource Planning (ERP) and Business Process Automation (BPA), where companies more than ever, are striving to be more agile to remain competitive has seen RPA adoption skyrocket. A marketsandmarkets survey estimated that the global Robotic Process Automation market will reach $ 2.46 billion by 2022 at an average Compound Annual Growth Rate (CAGR) of 30.14% between 2017 and 2022.
RPA has found itself in the middle of a surging, multi-billion-dollar Artificial Intelligence (AI) and Machine Learning (ML) market because it provides businesses incredible savings and better returns on investment (ROI) than most other technologies. Leading market analysts Gartner, refer to RPA as a “gateway technology”, as it is not very complicated and is much easier to implement than sophisticated standalone AI. It is often the first step for many organizations leaping into the realm of BPA.
Perhaps the biggest draw of RPA tools is that they just sit on top over your legacy systems like ERP software, and there is hardly any need for complex coding knowledge or complicated integrations. They are also relatively easy to use, and have been proven to provide cost-benefit results within weeks. For example, a recent UiPath deployment project saw 22% redirection of knowledge workers to value-added tasks at a leading global bank, and reduced response times by 95%.
Deployment of RPA and Concerns
There has been a sporadic spread of news about the bleak future of human employees as some claim robots are here to steal the jobs of hard-working employees altogether. However, IT leaders almost everywhere have debunked such theories and have repeatedly stated that the workplace of the future will have robots and humans working in synchrony rather than a one over the other scenario. While automation is expected to cut some jobs that can be deemed outdated and counter-productive, it is also expected to give rise to many new job roles. Some other RPA myths that have been debunked since its inception have been discussed here.
The other major concerns surrounding the deployment of RPA technology until now have revolved around security concerns, a skill gap of employees, and businesses being relatively unaware of the benefits of RPA. With development, major players like UiPath have upgraded their plug-in architecture tools, AI and cognitive abilities, and have managed to alleviate the security concerns. The growth of premier RPA Managed Service Providers (MSPs) has also partially helped bridge the skill gap.
RPA Managed Services Providers
RPA is here to stay, and will continue to increase the productivity of workforces across all industries around the world. If you’re still wondering how to get started with RPA, RPA Managed Service Providers are here to help. RPA Managed Service Providers like ProV International Inc. have access to a global workforce of RPA experts that can help in the rapid implementation of RPA across your business functions for a flexible fee in return for your outsourcing your needs. Our list of RPA services includes: RPA strategy, RPA proof of value, RPA business case development, RPA production rollout, and RPA managed services. To learn more about how ProV can help your digital transformation and our full range of RPA services, drop a comment below or contact us today.