Robotic Process Automation: A Gateway Drug to AI and Digital Transformation

PWC Canada estimated that 45% of the work activities can be automated, and this would save around $2 trillion in global workforce costs. Thus, 69% of CEOs are planning a cost reduction for profitable growth. Also, 62% feel RPA is a disruptive technology, and in the next five years, it will completely change companies' strategic landscapes and help turn vision into reality. 

Advances in the Robotic Process Automation and technologies related shall be seen as automating a wide range of activities without the need for complex programming. The impact of RPA can be significantly seen on several fronts, like economic value, workforce advantages, quality & control improvements, and flexible execution.

Discussing the Robotic Process Automation benefits, the biggest is the ease of deployment, speed & agility RPA is bestowing on the enterprises. Moreover, a 24/7 productivity capacity, a positive impact on ROI, immediate cost-saving results, and a great compliance rate. 

How RPA Can Give You Peace of Mind

Digital Transformation is often assessed as replacing labor with machines that too cost-effectively. Moreover, the technology delivers accuracy and compliance with the business that enables the employees to perform tasks better. 

The parameters for successful digital transformation through Robotic Process Automation -

• RPA helps end-to-end, cross-functional lens, and enhances automation across various processes. 
• Robotic transformation can maximize automation during the initial process and work in coordination with other functions. 
• RPA can improve productivity by first evaluating the traditional as well as digital workforce dependencies and scheduling RPA solutions intelligently to optimize the uptime of systems. 
• Automation reduces the labor-intensive for 100% audibility and improves controls.

While RPA is considered as furthering the overall path for digital transformation. Thus, companies and brands have to use disruptive technologies for long-term intelligent automation strategy. 

With the lightening speed growth of RPA, leading industry analysts believe that the market will be worth at least $4.3 billion by 2022. 

Let's dig deep into how the Robotic Process Automation is supporting companies for digital transformation!

RPA - The Key To Digital Transformation

Two aspects of RPA drive Digital transformation for ease, accessibility, and profitability.

First,

Robotic Process Automation forms process digitalization, which is the basis for any organization looking into digital transformation. This gives perfect opportunity to those who rethink their business processes. Try to evaluate how organizations can be aligned with the digital world to deliver better customer experience. 

You can find various case studies of the companies that have improved and ingrained digitization in their core for speedy and accurate business processes.

Second, 

Instead of playing the fundamental role in any organization RPA, benefits organizations in improving overall efficiency. One of the major efficiency problems that companies address about RPA is its shaky or outdated foundation. However, the business owners never understand the fact that they are continuing to use the legacy systems and approaches in the name of Digitization. Just to optimize a particular process with RPA may make the processes hard to transform and integrate into the long-run. Thus, change must take place everywhere within the organization for efficiency.

Artificial Intelligence, on the other hand, is also working on revolutionizing companies striving for digital transformation. When combined with RPA, Artificial Intelligence can empower rapid end-to-end business growth.

RPA - AI Infused Solutions Across Industries and Environments 

A software robot, unlike the AI robot, that automates mundane tasks and increases efficiency. The Robotic Process Automation bot can leverage the capabilities of AI to complete tasks efficiently. RPA with AI can do a lot of labor work as well, like human resources, financial services, healthcare, supply chain management customer service, accounting, and many more.

RPA is incredibly efficient in completing the tasks that users or a programmer tells it to. AI, on the other hand, can learn to do tasks. RPA can automate tasks and AI can bridge the gap where RPA falls short.

AI brings value by converting and processing the data gathered from semi-structured and unstructured text, scanned documents, webpages & PDFs for RPA to understand.

Robotic Automation Process - A Door to AI and Digital Transformation

Recent research by APQC, a business research institute found out that 69% of core digital strategies were made through RPA. Some factors are the gateway to the RPA early and rapid adoption.

Implementation

RPA can be easily used for turning the entry-level strategy into digital automation for the back-office processes. One of the consultants claimed RPA as a gateway drug for implementing other cognitive technologies like AI and Machine Learning. 

Robotic Process Automation is easy to implement, easy to configure without the much need of an expert consultant. It is also well-suited to work across-multiple back-end systems. The best part is it does not demand any re-architecting of the systems. 

Ease of Piloting

The swift adoption of RPA also guarantees pilots and proofs of concepts. APQC's survey found that over 75% of the respondents had met the expectations of their RPA projects. Out of this 75%, 41%  were far from evaluating their satisfaction with RPA projects. 

Not only did the automating transitional activity pilot the strategy but, can also execute them effectively. RPA offers great satisfaction with the help of automation and robotics for clear digitization and measurable business case.

Process Management

IT and process management need to be combined, statistically. Companies need to ensure that they involve both of them to equally involve the Robotic Process Automation. This ensures enabling bots in your business and are integrated smoothly within the system. Instigating RPA will help reduce the cost and post-production rework done through reengineering processes for digital execution.

How RPA Can Help Create Future Intelligent Applications

Both Robotic Process Automation and machine learning gathers useful data and combine with AI capabilities. With the help of valuable information, offered by AI, can help improve the transactional process, which was accumulating the data in the first place.

Not just big organizations, some of the vendors and firms are combining RPA with AI - ML, NLP (natural language processing, and image recognition. Combining all continue a smarter way to carry business.

To integrate RPA features, organizations have three categories to work on-

1. Simple - where bots gather data from sources and funnel them in systems.
2. Hybrid - where bots gather data which further helps in making simple decisions based on business rules.
3. Cognitive  - where bots make decisions or interact with humans along with the involvement of Machine Learning or NLP. 

In the Nutshell -

Robotic Process Automation doesn't refer to a physical bot rather, it is a software bot, that can easily automate the laborious mundane daily work so that you can utilize your time for other strategic planning and implementing.

Process automation is a great fit for the business as it is user friendly, flexible, non-disruptive, scalable, easy to implement, and secure.

With the support of AI, Robotic Process Automation Company by saving the workforce from painful and agitating tasks. Boost productivity of the workforce, eliminate human errors & improve data management more effectively. Above all, acquire complete process transparency and save costs