30 Oct 2020
RPA : How is Robotic Process Automation Transforming the Digital World
Robotic Process Automation
30 Oct 2020
Robotic Process Automation
When most people hear the term artificial intelligence, the first thing they usually think of is robots. That’s because big-budget films and novels weave stories about human-like machines that wreak havoc on Earth. But nothing could be further from the truth. Artificial intelligence is based on the principle that human intelligence can be defined in a way that a ma chine can easily mimic it and execute tasks, from the most simple to those that are even more complex. The goals of artificial intelligence include learning, reasoning, and perception.As technology advances, previous benchmarks that defined artificial intelligence become outdated. For example, machines that calculate basic functions or recognize text through optimal character recognition are no longer considered to embody artificial intelligence, since this function is now taken for granted as an inherent computer function.
“Robotic Process Automation (or RPA) is a rapidly emerging technology that will fundamentally change how SSCs (Shared Service Centre’s) operate, slashing the effort for routine tasks and enabling advanced cognitive applications that augment or replace human judgment in knowledge-based processes”.
Deloitte 2017 global shared services survey
Whether it’s Predictive Analytics or Machine Learning or Robotic Process Automation, these technological advancements have left the human race in awe with the remarkable benefits it brings to the table. Out of which, Robotic Process Automation has been the topic of greatest interest in the technology arena, given the fact it is growing and advancing at lightning speed across different business sectors.
According to leading technology industry analysts, the Robotic Process Automation market by 2022 will be worth at least $4.3 billion, which in 2018 valued at $1.7 billion. That clearly signifies that organizations worldwide from various sectors are increasingly adopting RPA, chasing the benefits like enhanced customer experience, operational cost reduction, error-free operations, better management, and effective implementation and growth. Well, maybe that’s the reason why 53% of organizations have already begun their RPA implementation journeys and is expected to increase to 72% next year and a “near-universal adoption” by 2022. Doesn’t that sound incredible?
However, some organizations look at RPA as just a short-term fix for the temporary goals, and visions need to re-think. In contrast, it needs to be considered as a catalyst for bigger digital transformations. Implementing RPA in one or the other area of the organization is merely the first approach to automation in the journey to complete digital transformation.
Though most of the RPA implementations emerge from the business need to automate all the manual, time-consuming, and repetitive operational tasks, the complete potential of the automation can be leveraged only through integrating it with other digital technologies within the organization like digital assistants, machine learning, smart organization workflow tools, and AI, generating maximum benefits as well as driving end-to-end business digital transformation.
Well, these are just the benefits that RPA yields on implementation. But, how is the Robotic Process Automation shaping and transforming the digital world?
1. RPA integrates and deploys easily since it doesn’t require complex coding or integration. Just because it doesn’t affect the underlying business logic doesn’t mean it’s completely easy. All it means is its quite easy to test and pilot the particular technology, allowing the organizations to figure out how various lines of their business are all experimenting with their own RPA pilots, with limited input and support from the IT department or technical head. That said, such capabilities potentially drive efficiency and growth within the organization.
2. RPA tackles building and deployment queries and challenges faster than the traditional solutions do. Additionally, since RPA is competent enough to access information and data from multiple diverse sources such as legacy systems, ERP systems, and other external systems, it doesn’t require re-engineering old organizational processes or ripping out traditional digital platforms that are core to your business operations.
3. RPA is a pretty accommodating technology. It allows organizations to adjust business processes as per the changing or the new requirements and solves the challenge without leaving any negative impact on the business. Well, consider reconciling invoices rather than sustaining manual reconciliation or invest months to build a custom and complex digital integration? That would be a loss of time, productivity, and results!
Needless to say, cost reduction is a complimentary benefit that organizations gain through such technological transformations with RPA. Companies can muster more to focus on customer/client-related issues that certainly require a human touch.
Well, looking at the way RPA has been digitally transforming the businesses across the globe in the last couple of years, organizations must realize the competency of robotic process automation software and how to leverage it to its full potential.
Digital transformation through technological advancements like RPA can work wonders, but a few organizations are still struggling to get their heads around. Being stubborn about traditional digital methods and policies, they miss out on opportunities to further cut down the operational costs and generate great results quickly.
According to Gartner, two-thirds of business leaders believe their companies must pick up the pace of digitization to remain competitive in today’s world. Well, better late than never. Companies like Linkfields have been actively working to raise awareness regarding how crucial it is to incorporate RPA in the business process and support clients from different sectors with RPA consultation and development services. Their team of RPA developers and RPA software strategies is all you need to automate your business for better growth and efficiency. It’s time to reshape business processes with RPA!