According to surveys conducted, RPA’s current global market estimates are worth approximately $125.2 million and are only expected to grow by 2024 to around $8.75 billion! These days, businesses are increasingly adopting RPA (Robotic Process Automation) technology. The reason for doing so is to enhance delivering ability of ROI and to improve control over operations. When traditional business solutions are combined, digital transformation can be accelerated further by allowing businesses to monitor and visualize end to end business processes. This helps to lay foundation to enjoy continuous process improvement. Then the platform is able to serve as base from where there can be delivered enterprise transformation.
Top benefits derived from implementing RPA
There have emerged numerous robotic process automation companies in India that has been offering top quality solutions to benefit business immensely. Adoption of RPA software represents pivot to software based model from people and is regarded to be a basic shift in business operation approach. Some benefits are given below:
- Enables improved compliance: Organizations operating in highly regulated environments tend to get affected by adopting the latest technologies such as RPA, machine learning and artificial intelligence. Integration of such technologies has been started by majority of the companies within digital transformation platforms.
- Daily tasks associated with risk & compliance performed by robots including routine control automation and reconciliation execution to reduce employee workload.
- Recording transactions, application of pre-defined steps by software bots, thus avoiding manual errors and auditors provided with complete transparency.
Therefore, the business is benefitted with quick end to end process completion and increased accuracy.
- Complements business innovation speed: RPA is easy to build, a rapid solution and quick to be implemented when compared to the available traditional solutions. Its interfaces are even intuitive and highly skilled resources are not required. They link together all applications that are necessary in the existing environment, rather than replacing them, thus making it non-disruptive. It does provide that competitive edge helps saves resources and time and is highly cost effective.
- Quick ROI and enhanced productivity: Doubling almost six months, the RPA market is found to grow at a tremendous pace and expected to reach by 2020 around $5 billion. Speedy adoption is attributed to accurate results and quick ROI. Since robots can work 24/7, they are more productive and RPA implementation is likely to yield quicker ROI. Within few weeks it is possible to accomplish RPA proof of concept, without actually impacting current IT infrastructure and within months, final roll out is finished.
- Delivers excellent customer experience: With customers becoming smarter, customer experience is presently regarded as the number one goal by almost 72% businesses. It is possible to scatter customer data within organizations through multiple applications. With manual updation of data in the systems, end to end process including customer interaction is likely to experience delays. This gap is bridged between multiple systems by RPA to provide real time updates. Also the software bots perform accurately all manual tasks, thus providing employees with the time to focus upon better customer experience deliverance.
However, to get the best results, it will be essential to contact the top robotic process automation service providers.