Robotic Process Automation (or RPA) incorporates automation through bots to perform mechanical tasks such as data manipulation, communication with other internal systems, generation of email responses and transaction processing.
The objective of RPA is focused on automating daily and repetitive tasks in order to reduce the human work that is spent on these tasks and focus it on more productive operations. In addition, it helps reduce operating and production costs and improves efficiency and productivity levels.
Bots working in RPA can move files and folders, fill out forms, copy and paste data in various ways, extract structured data, and other repetitive tasks. With the implementation of RPA, the workers of a company could save up to 80% of their working time if they no longer perform this type of task, being able to focus on other areas that do need supervision and human work.
According to one of the latest reports from Global Market Insights Inc., by 2024, we will most likely see the RPA market reach $5 billion. For the most part, this is related to companies adopting RPA to update and improve their capabilities and streamline their processes while actively working to reduce overall costs.
This shows how companies of all sizes plan to adopt this technology due to its usability and adaptability.
The biggest providers of RPA are IBM, UiPath, Automation Anywhere, WorkFusion, and BluePrism.
The benefits of RPA are wide-ranging and far-reaching. You can put software robots to work to achieve significant and measurable improvements in areas of your business that range from customer satisfaction and employee engagement to process speed, accuracy, and cost-efficiency.
Automating various tasks in your company will allow your employees to focus their skills on other tasks that require analysis and human attention, thus increasing the effectiveness of your company.
RPA is used to automate various supply chain processes, including data entry, predictive maintenance, and after-sales service support. RPA is used across industries to automate high-volume, rote tasks. Telecommunications companies use RPA to configure new services and the associated billing systems for new accounts.