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hello, friends I am Raju Kumar Yadav and welcome my blog Allies of Digital Marketing In this article, we will know about Robotic Process Automation (RPA): Why is it important in 2020? in these articles, I will explain about that.
Why Robotic Process Automation (RPA) has grown popularity
According to Gartner technicians, companies will cut their costs dramatically in the coming years if they invest in technology for intelligent process automation.
In recent years, robotic automation processes (RPA or Robotic Process Automation ) has grown in popularity. For what some managers were a trend, now it becomes a necessity.
It is because when it comes to productivity and maintaining a competitive advantage, RPAs are bringing significant benefits, not just in cost, but also in optimization and efficiency.
At Gartner, they expect that by 2022, about 80% of RPA automation will get its value from complementary technologies. It includes iPaaS, iBPMS, and decision management tools.
The expectation is that by three years from now (2023), there will be a 30% increase in the use of RPA for front office functions for sales and customer experience. Also, by that time, 50% of RPA scripts will be dynamically generated.
Current RPA status According to Deloitte, 53% of organizations have launched RPA initiatives.
In general, these companies need less than 12 months to achieve ROI—likewise, 78% of organizations with RPA systems in use plan to significantly increase their investment in RPA.
A few years ago, most managers were learning what RPAs were. Now, companies that have already introduced RPA are learning how to move from their initial use case, trying to expand usage, and looking to find the maximum value.
What could have been an experiment in new technologies is now a staple for taking over reports, document processing, user management, and other tedious but essential business processes?
Although not all companies have integrated RPA into their operations, the market is on course, and the forecasts for the adoption of these technologies are high. So what should the manager on RPA systems take into account in 2020?
future of Robotic Process Automation (RAP) in 2020
Increase in RPA adoption
Within Deloitte’s study, it has also revealed that in 2020 72% of companies will have started their steps to adopt RPA. Managers see great value in integrating RPA into their processes.
Those who have not yet done so are seeing that their competitors are taking the lead in using technology.
Increase in financial resources
Increase in financial resources for RPA With increased adoption, and it follows that RPA spending will continue to grow. Forrester predicts that the RPA software market will reach $ 2.9 billion by 2021, compared to $ 250 million in 2016.
This incredible increase in just four years does not necessarily reflect an increase in the price of systems, but rather a growth in the adoption of RPA in that period.
Companies that take into account how the software is price can get real value and will be able to scale as they expand usage.
The specter of a possible global economic downturn will spur automation adoption. After a few quiet years, the markets begin to show some indicators that could indicate that we are on the verge of a possible recession. Then RPA will become a necessity.
It will be necessary for companies to streamline their processes and improve their services, equipping themselves with digital assistants capable of dealing with repetitive and time-consuming tasks so that human employees can use their creativity and innovation to push companies further never.
Rethink RPA strategies
By the end of 2020, and some organizations will run into some regrets and look to other RPA solution providers as their initial project ended up failing.
The main reasons adoption often fails is a poor choice in the software/vendor, the technology did not align with business objectives, the use in the company was too isolated or because the software could not scale beyond the initial case.
Whatever the reason, managers will sit back down to decide more consistent strategies and to do better.
Here are the top 5 benefits of implementing RPA software for your company.
1. Reduced cost: By using automation tools, you can nearly save 30% of the cost. the robotic software also costs less than the cost of full-time employees.
2. Better customer experience: By using an RPA you give the high-value resource to put in the back on the front line success to your customer.
3. Lower operational risk: by the human employee estimating error such as lack of knowledge or tiredness, RPA has reduced that risk
4. Improved internal processes: AI and RPA leverage order to industries are forced to describe governance procedures. it is allowed to quick reporting, onboarding, and other activities.
5. It does not replace existing IT systems: one of the best and biggest advantages of using a virtual workplace or an RPA robot id does not need you to change our existing system. even RPA can use your existing systems, the same as the human employees can.
As more and more companies adopt and seek to improve with RPA solutions, the focus should be on choosing the right automation tool and processes, trying to support employees, and make the most of RPA capabilities.