Why are more companies embracing Robotic Process Automation (RPA) ?

According to the Softomotive Medium-sized Business RPA study, Small Medium Companies, globally, are embracing Robotic Processing Automation (RPA) as it guarantees to increase the productivity, accuracy, and timeliness of their business processes and to reduce the operational costs. Adopting process automation has also empowered corporations to expand their business faster, improved customer satisfaction and has relieved employees so they can concentrate on other “value-added” complex and creative activities.

More than 50% have either employed RPA in their business or scaled it across their organization in various parts of the world.

RPA is not only used for IT and Business Operations processes, but also for Finance / Accounting, Human Resources, and Procurement, as these latter functions of businesses are also actualising real benefits from Automation. Furthermore, new areas have been identified to leverage RPA. To name a few Logistics, Marketing, Advertising, Product Management, Customer Service, Sales, and Legal. As multiple benefits are being achieved with RPA, more companies are confident to apply automation to their businesses.

Current RPA Usage

Source: Softomotive Global Study 2018, RPA Solutions for Growth Companies

Although RPA is rapidly becoming more mainstream, businesses are still on the fence as leveraging RPA completely in their organizations raises Data Security and Reliability concerns, problems integrating with the existing systems, RPA affordability, “software robot” governance, RPA vendor-support quality, the impact on employee morale, and documenting workflows and processes.

Benefits Realized as a Result of Using RPA (Amongst Current RPA Users)

Source: Softomotive Global Study 2018, RPA Solutions for Growth Companies 

The advantages recognised by the companies using and exploring RPA has converted as critical factors in the decision to consider RPA for other companies. Highlighted below are some benefits that your company can experience upon leveraging the robotic process automation tools.

• Save Hours and Dollars
  
  With your daily activities being automated, nearly 30% of the cost can be saved over the output of productivity. Bots also overcome the setbacks of a full-time human employee. Not only are tasks executed faster, but also performed round-the-clock.
  
  The calculation is compelling for companies looking to lower expenses. An unattended bot will perform the back-office job of more than five employees, yet takes approximately one-third of a job outsourced to a minimum-wage country.
  
  Thus, getting your company a higher output in return for your relatively low investment in bots.
  
• VALUE - The vital and far-reaching edge
  
  
  Positioning robot technology at the various battle stations of your house will relieve your high-value resources so they can direct their energy on the front-lines defining your customer success.
  
  The long and dull wait time to have a form processed or being put on hold during a phone call are only a few pain points that customers face. RPA implemented at such key points will deliver an overall delightful experience with a streamlined and seamless process. Bringing automation solutions amidst the human-centered design will not only turn the page for your customers but also lead to exponentially greater business value throughout your organization.
  
• Improved Data Accuracy, Reliability and Security
  
  Software Bots don’t get hoodwinked by common cyber-attacks such as spear phishing, and social engineering.
  
  The RPA technology provides an Error-free, accurate and reliable data that directly influences your company’s Return of Investments. It also improves internal processes like reporting, on-boarding; and lowers operational risks by eliminating human errs. Thus, process automation is particularly valuable in tasks that are prone to human errors.
  
• Keep the Ball Rolling
  
  Applying RPA technology doesn’t require setting up an Application Programming Interface (API) prior to the use of RPA tools. So this virtual workforce doesn’t replace your existing IT systems but leverages on the same as does a human employee.
  
  RPA products support and augment productivity, as they come with a drag-drop interface that doesn't require coding or other complex programming knowledge to work on it. Your business, thus, will not be interrupted as RPA has a flexible process that can be applied across industries and businesses, is easily scalable and can take on multiple rule-based, repetitive tasks.
  
• Empower Employees
  
  Automation and Artificial Intelligence (AI)  releases the human workforce from high-volume mundane administrative tasks, so they can concentrate on driving innovation in key performance areas such as customer service, product development, and other value-added activities that require emotional intelligence, creativity, reasoning and decision-making abilities -for greater productivity and enrichment in the business process.
  
  As there is no need for any special technical skills and knowledge, RPA is an ideal application for the end-user. RPA not only empowers your employees but also augments their performance. 

The benefits conclusively highlight the reality of the future. Robotics and Automation tools are working toward building productive and efficient businesses by freeing the skilled workforce from mundane duties, allowing them to showcase their talents by dealing with more complex, creative tasks.