The automation industry has gained a lot of attention in the past few years. In particular, RPA, which is a form of business process automation that automates software actions, has experienced a fondness surge and growth in implementation across the industry at a quick pace. It helps businesses take leaps and bounds from its existence to futuristic advancements. It enables companies to automate mundane tasks and direct their workforce toward more critical functions requiring human intelligence. It also saves costs by replacing human potential with a machine and improve productivity. RPA tends to minimize errors while leading a more efficient organization.
It works on companies’ data and analytics to lessen the risks of data leakages, obsolete information, and incorrect analytics. Organizations can see transparently through their data and avail actionable/verified insights with minimal error rate using robotic process automation.
The technology helps collect data from the sources which is not feasible for humans. Hence, RPA also provides a wider scope of data collection and analysis that can lead to more comprehensive insights.
According to McKinsey, it has been estimated that automation systems could undertake the work equivalent of up to 140 million jobs by 2025. The report says that new jobs will be created to supervise and maintain automated processes. It has been predicted that the companies implementing RPA will soon outdo those who still depend on human capital for their significant processes.
As quoted in a report by Everest Group, Robotics Process Automation is expected to lead to a cost reduction of around 65 percent with its potential to register data at the transactional level. This will enable decision-making which is swift, precise and predictive.
However, all this information is not enough for an organization to understand the Robotic Process Automation. Here is the list of significant things one must know about RPA before implementing it in an organization.
Till the emergence of RPA, companies used to automate software by enlisting the actions they wanted to get performed. They used to employ API or scripting language to automate them. But with the introduction of RPA, it has become rather easy. RPA watches and observes user activity and how he performs a task in the GUI and further it creates an action list to perform such task repetitively.
The efficient quality of RPA also includes its similarity with a graphical user interface (GUI) testing tool. RPA systems are more efficient in handling data such as timesheets, determining pay pattern and processing payroll to make bank transactions.
Its easy implementation is another add-on to its increasing fondness across the industry. Companies do not require custom software or deep systems integration which subsequently implies that they can add capacity for certain tasks at low cost.
According to a Deloitte UK report published in 2017, only 3 percent of companies, those were analyzed, had scaled Robotic Process Automation to 50 or more robots. Certain companies can be easily thrown off by platform changes, or even form changes sometimes.
The idea of RPA 2.0 that uses ML can enable Robotics Process Automation to do work without requiring any input from human users. This also marks the advancement of unassisted RPA for next-generation.