In the past few years, Robotic Process Automation (RPA) has simply exploded the market and it is still going very strong. As per the Grand View Research by the end of 2014, RPA industry will be worth $8.75 Billion offering all the good things to the IT industry, like compliance, enhanced accuracy, scalability and cost-savings.
The tools that are used for RPA are 65% less expensive than paying the full-time employees. Thus, instead of outsourcing businessmen prefer implementing Robotic Process Automation nowadays.
RPA technology is beneficial in various sectors of modern industries. According to a recent survey done on 136 companies, it also has been proven that about 58% of them experienced satisfaction by including RPA in their business procedures. Let’s check out some of the key points of this research.
1. RPA is very cost efficient: With RPA cost savings satisfaction is the highest, but currently this costing factor is limited to marketing and IT departments only. The reason is that is the sectors like customer service and finance, one needs to spend a lot in order to reduce the workforce. While in the customer service industry satisfaction is attained by extending the legacy solutions and automating the manual tasks.
2. Business satisfaction is also higher: With the IT service desks and procurement various business items can be automated offering much higher return on investment. Still there are sectors where business value is lower like finance accounting and customer service.
After analysing the data and reading the researches, it has been discovered that although companies are utilizing Robotic Process Automation for saving the costs, the plan still not working perfectly. But with continuous improvements in the implementation and by collaborating RPA with other technologies like Artificial Intelligence (AI), one can achieve desirable business outputs. Here are a few points to consider:
1. Considering long term and short-term implementation: RPA only works when process improvement has been taken into consideration. When a company is implementing RPA on a long-term basis, then employee reduction has to be done which is a hard step to take. On a short term basis, the businesses have to tweak the process in order to optimize.
2. Customer obsession happens with RPA too: Although RPA can’t offer that much human interaction, people still love to get their answers quickly without any delays. Even studies have observed that customers are keenly interested in chatbots and virtual agents who can offer automated but effective solutions. There is still a lot of room for innovation, so the company should continuously work on that part too.
I hope now you have learned all about how you can actually make the use of Robotic Process Automation in an intelligent manner. The best way is to implementing it with Machine Learning and AI. To know more about this amazing technology, you can talk to our experts, visit now at https://www.eisiltd.com/robotic-process-automation-artificial-intelligence.
