Re-engineering business processes through powerful RPA implementation is the new mantra for any Enterprise. UiPath, one of the advanced RPA tools provider, seen revenue of $3 billion dollars within 6 months of RPA implementation.
The RPA concept is gaining momentum, as it is evident from the fact that within a 2-year time frame 2016 to 2018, the demand for the RPA jobs have seen ten-fold increase. RPA implementation transforms any industry effectively through strategic execution. RPA directly impacts upstream and downstream of a business unit.
Changing The Work Culture Through Automation
“Revolutionising the Workplace Culture through RPA that effectively engage and manage every stakeholder, vendors, employees throughout this transition phase”
RPA offers more than just automating the routine mundane tasks. It leverages the employee to focus more on innovative work, increase employee satisfaction and also work hand in hand to build a structured workflow.
Augments the Human Workforce with effective front office agent, back-office resources and business leads. When we quickly recap the RPA predecessor, the traditional workflow automation was into practice in the 1990s.
Now, the RPA solution along with AI moving towards a more meaningful cognitive automation technology. Complex decision-making is made possible with the help of today’s RPA process.
Accelerating The Businesses To The Next Level With RPA
RPA is gaining a lot of momentum in the industry. In my perspective, it is one of the most powerful technologies which leverages RPA seamlessly into an organisation. Also, you can quickly start experimenting the RPA benefits through “lean” and “agile” implementation techniques. I believe these will bring more innovation to any organisation.
First, in order to achieve the full benefits of RPA, the organisation should have the mindset to adapt to the change where automation first embraces both top-down as well as a bottom-up approach. Having a dedicated automation team to track certain metrics like a domain heat map, planning tools and process mining is a best practice. They help to identify which processes are best suited for automation.
Scaling RPA should be performed with diligent care without compromising on security and governance. Creating an ROC will not only help to standardise the RPA automation policies but also follow the RPA guidelines effectively.
Impact Of RPA In Emerging Markets
With the evolution of the global economy, the RPA technology began its tenure in the emerging markets as well following the footsteps of the developed countries like the US, Canada and UK. New markets are blooming in a significant rate in India, Latin America as well.
RPA and automation technologies provide sustainable economic growth, particularly to the IT sector.
China with the largest human workforce has seen a historic increase in their labour charge of up to 15% in the last decade. Likewise , with these hike in the labour chargers in other emerging countries, RPA remains to be a good alternative for building a better cost-effective workforce.
Also, the expense related to the RPA implementation and other robotic processing decreased to a significant amount to 29%.
Improve the Operational Efficiency
Once an organisation deploys these RPA into their system, then within no time they can experience a solid transformation of the way they work. Even the complex tasks can now be simplified using RPA systems. Like data migration, regulatory compliance and fraud detection etc.
Deploying RPA helps several business verticals from healthcare to automobile and finance industries to increase the capability by automating the more critical and sophisticated activities with little effort.
RPA successfully can be incorporated in both large enterprises as well as start-up companies. Also, RPA helps to minimise the overall process life cycle to meet any existing customer demand. RPA soon will be a go-to solution in future where it bridges the digital gap and enhance the workflow structure with better activities. Investing in RPA is worth every penny as it provides long-term benefits where it saves enormous time because every minute lost is a penny loss.
Opportunity On The Rise
The C-suite is drastically undergoing many transformations by introducing many top roles to meet the ever-going market demand. According to Gartner, large companies may allocate 10% of the CRO role within 2 years
Recent times have seen new roles like Chief Data Officer, Chief Marketing Officer and in the same way for managing robotics across departments effectively, Chief Robotic Officer (CRO) is put into practice.
The typical role of a CRO is very critical where he/she will be working as a forward-thinking strategist. CRO will overview part HR work, part operational work and part IT work at the same time getting their existing employees up to speed with the latest technical skills. Thus, CRO will act as a liaison between a robot and a human.
RPA is clearly moving towards a necessity from merely being an option. To stay ahead of your competitors and to get a continued growth moving towards RPA is the best approach. Due to its affordability, many small scale industries which have limited fluid investment can greatly benefit by adapting to RPA technologies. By adopting automation techniques, you will surely increase your productivity to a whole new level. By implementing this intelligent software, it will change the workflow which gives a competitive edge to your business. Be ready to take the big leap as automation is here to stay and becoming a business imperative.
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Dinesh Soundararajan is a part of the AIM Writers Programme. He is the co-founder and director for IIoT Solutions at a reputed digital transformation company. His work experience spans spearheading tech product engineering, solution deliveries and quality assurance grounded on SMAC technologies.