Market Updates

Revolutionizing the BPM Industry: Robotic Process Automation

May, 2018

Digital transformation is changing the way businesses are run around the world. The automation of business processes is expected to momentously transform business process management.  Organizations have started to reap the benefits of business process automation. However, it’s still a matter of debate in the ICT domain, whether such automation would remove a large workforce from their jobs or create more job opportunities in the future.

How Robotic Process Automation impacts enterprises?

Though the adoption of RPA among the enterprises is in its early phase, it is becoming quite popular, especially in the financial industry. This industry is expected to drive the RPA market globally. The productivity and quality of RPA software are still concern areas in large scale adoption of the software. The software provides capabilities in automating the back operations of an organization. The application of AI and ML power the functionality of the RPA and it is important to code the RPA in a way that it proves to be as intelligent as humans to operate over calls, emails and other forms of correspondence.

The initiatives are largely dependent on the CIOs to implement the RPA in their organizations. Vendors such as BluePrism, UIPath, and Automation Anywhere have already made their footprint across geographies to help organizations leverage the benefits of the RPA software. It offers improved accuracy and requires much less human intervention in its operations.  The increasing interest of moving to RPA is one of the biggest changes the IT industry has witnessed in recent years. It would bring massive changes to the IT industry in terms of how business processes are carried out by the service organizations. It is also expected to reduce the operational expenditure.

The success of the RPA will be weighed against the improved levels of customer satisfaction in the long term. Many implementation and case studies prove that RPA is super quick in responding and resolving customer queries.  RPA technologies will have a crucial role to play in customer delight leading to customer retention in a highly dynamic and competitive market environment. RPA can provide considerable ROI with lesser investments. It can be implemented in an environment where repetitive and tedious activities are carried out and business rules can be coded to identify, automate and make decisions according to the business requirements.

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Benefits of implementing RPA

The leading RPA software vendors have experienced mammoth growth over past few years partnering with various smart technologies and IT service providers. RPA would reduce the need to employ an FTE to carry many customer service activities. It would work as humans operating the IT systems interacting with emails, portals and applications, and take logical decisions faster than ever before. It is an addition to the technical systems of an organization and is proceeding toward making enterprises across industries more tech-savvy offering values and leveraging digitization to the end users.

– Swarup
ICT Market Research Analyst
Infoholic Research