Everyone want to know what is Robotic Process Automation (RPA) and how it will help in business. Here you will get the answer how it will impact on your business and what is the future of RPA.
Robotic Process Automation
RPA is technology that can automate business processes that are rules-based, structured and repetitive. This allows your human employees to spend their time and energy on strategic work that adds more value to your bottom line.
RPA is big and everyone believes so. Not surprisingly, the misconceptions about RPA are promptly being debunked and replaced with greater recognition and acceptance of the power of bots.
For instance, a research by Forrester predicts RPA growth to expand to $2.9 billion by 2021. Deloitte believes that RPA will achieve ‘near universal adoption’ in the next 5 years.
Future of RPA
No code RPA: Enabling companies rely on cheaper resources and reduce RPA development time·
Self learning RPA: Automating process modelling using system logs and videos of users working on the process.
Cognitive RPA: Enriching RPA with advanced functionality such as image processing and Natural Language Processing
RPA Impact on Business
There is a great impact of automation in all sections of a business under the IT services. One of the major sections is the back-office operations in which the rule-based and low trained work is in large numbers compared to other sections, where the automation influence is clearly visible.
The robots are responsible to carry out all the routine and tedious jobs constantly, in a small amount of time with full correctness. Thus, the working cost is reduced very efficiently and with high productivity, this helps the IT and the business process organizations to enhance their profitability.
The back- office labor cost saving ranges from 80% percent for the subcontracting business and around 30 % of the total cost of the offshore employees.
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