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Boost top and bottom-line performance of your industry with RPA

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Boost top and bottom-line performance of your industry with RPA

Unlike traditional automation, which relies on instructive code, bots are skilled in using illustrative steps. RPA(Robotic process automation)  enables bots to adapt to changing conditions. Traditional automation cannot execute steps that are undefined in its code. Traditional automation, for example, would detect an error in a blank field when processing data in an excel sheet and would require human intervention. RPA bots would find out the problem and locate the missing data in the blank field. Bots interact with other applications regardless of the technology used. Once trained then they will continue to perform their action.

Gartner says, worldwide RPA Software Revenue (Millions of U.S. Dollars)

  2021 2020 2019
Revenue ($M) 1,888.1 1,579.5 1,411.1
Growth (%) 19.53 11.94 62.93

Source: Gartner

The global Business Process Automation (BPA) market is likely to be double between 2020 and 2025, rising from $9.5 million in 2020 to more than $18 million by the end of 2025. RPA is a key technology driving this growth.

Business transformation is no longer just a process-oriented endeavor. A truly resilient and self-improving enterprise automates all business areas from operations to people, culture, and system integration ensures long-term success. Initially, the RPA journey can seem complicated, but understanding the first steps in an RPA implementation will set you up to achieve success in automating the business process.

RPA employs an “outside-in” approach in which existing information systems are left untouched. Humans replaced agents rather than redesigning the system. RPA strives to be resistant to changes in the underlying information systems.

Robotic process automation is the best technology option for simple and effective streamlining functions. RPA provides a stopgap measure to avoid tactical bandages and costly disruption while extending the life of legacy systems and keeping up with technological transformation.

The healthcare, banking, and wealth management industries have begun to reap the benefits of RPA implementation. Utilities, manufacturing, hospitality, and mining are among the industries investing in RPA.

How to implement RPA in business processes is a big challenge in front of businesses. Let us understand its stages of implementation.

Analysis: The first step in adopting RPA is to select an area of your business process which you want to automate. As every process in the organization may not be appropriate for RPA implementation. This preliminary step determines which areas will benefit the most from RPA implementation.

Development: Then comes choosing the best vendor to implement this process. During this phase, invite RPA vendors to help you fine-tune your procurement strategy. As a proof of concept, many vendors will agree to demonstrate RPA in action on your chosen processes. These presentations should include a technical demo that focuses on the functionality found in each use case or the process that the RPA is replacing, allowing you to compare the various solutions.

Deployment:  After determining the best process for automation, the next step should be to find the right tool with the best features for implementing the automation solution. Install and start using it.

Support: If issues remain in the software bots, they are sent to the production environment and resolved.

Execution: Installing the updated robot on your computer or server, start giving instructions on how to complete a task. These instructions are known as training which does not require any programming skills or complex software configurations. The most common RPA training method is a screen capture. You have to complete a task once for the bot to capture steps and file directories. RPA is then ready to replicate these steps.

After following these subsequent steps, the organization will quickly start leveraging the benefits of RPA.

 

The global adoption of the RPA process has had a noticeable and positive impact on business productivity. RPA technology adoption is growing faster than ever before. It is still the best business service provider in the industry.

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