Robotic process automation has the potential to offer a high value in terms cost reduction and increased productivity. The value is realised in a short time as the deployment is quick and at a low risk, owing to the fact that the integration is non-invasive. RPA is also a burgeoning market and business leaders have woken up to its potential to improve the performance by automating repetitive, time-consuming tasks.
Over the last two years, there has been a considerable rise in interest over RPA which is increasingly seen as the cornerstone for digitisation and is on top of the most management agendas. According to a study by P&S Market Research, the RPA market is expected to touch $8.6 billion by 2023, growing at a CAGR of 36.2% during 2018-2023.
For example, US-based RPA leader, Automation Anywhere is a leader in digital workforce automation and implements digital workforce platform that allows companies to operate leaner and more efficiently. RPAs significantly increase revenue growth, create new revenue streams and offers a clear business advantage.
Global automation leaders such as Kryon Systems provide RPA cloud solutions that help organisations to decrease the overhead costs and efforts related to infrastructure deployments, maintenance, configuration and support. Through cloud accessibility, bots can be easily deployed, thereby serving virtual environments with no footprint on an organisation's core business infrastructure. Across the globe, some of the top technology vendors are Automation Anywhere, UiPath, WorkFusion, NICE, Blue Prism, Softomotive, Kofax Kapow and Redwood RoboFinance among others.
Software Robots Are Used For:
IT Support and Management: RPA is widely deployed for IT support tasks, for enhancing desk operations and monitoring network devices.
Automated Assistant: In terms of customer support, machines execute repeatable tasks by answering queries in natural languages. Automated Assistants have reduced the dependency on call centres.
Process Automation: Many enterprises use RPAs to automate rule-based processes wherein the present IT architecture is not changed. These consist of back-office tasks related to
customer services, finance, HR, data entry etc.
Top RPA Service Providers In India
Datamatics: This award-winning, Mumbai-headquartered company is one of the leading providers of robotics, advanced analytics, mobility and cloud solutions. It’s proprietary platform — TruBot offers a team of virtual assistants that help in automating repetitive and rule-based processes without any manual intervention. When powered with AI, it can recognise and replicate human actions, creating a smarter bot that can make informed decisions. The bot is multi-skilled and can automate a bunch of complex processes in such as Citrix-based accounting processes, dispute resolution and cash, credit and overdraft limit extension. The platform TruBot is sector agnostic and can be used across a range of verticals such as healthcare, banking, insurance, manufacturing and logistics.
Q3Tech: Gurgaon-headquartered Q3 technologies provides RPA software for BPO, healthcare, retail, telecom, BFSI and manufacturing among other sectors. Some of the top applications of RPA include — accounting (general accounting, transactional reporting and budgeting), healthcare (claims, customer support, account management, billing, reporting and analytics), human resources (timesheet submission process, updating employee information), financial sector (automating procedures such as account opening, insurance claims processing, audit request etc.) It is also widely deployed in customer care for tasks such as verifying e-signatures, uploading scanned documents and automating a slew of contact centre tasks. According to the company website, RPA software is not a part of an organization’s IT infrastructure, but instead, it sits on top of it and implements technology efficiently, without affecting the existing infrastructure and systems.
Infosys BPM: Today, rule-based and knowledge-based tasks form a chunk of RPA jobs across finance, HR, customer support, customer experience, accounting and legal processes among others. Infosys RPA provides both rule-based automation for repeatable tasks and knowledge-based automation for tasks that require human expertise. Knowledge-based automation leverages advances such as deep learning, artificial intelligence, natural user interfaces, cognitive computing backed by computing resources. According to an Infosys whitepaper, the company has delivered an innovative business process service stack, reducing human effort significantly, increasing productivity and provides cost savings. The solution component is made up of in-house solutions and is also based on third-party solutions. Today, Infosys RPA solution is used by CPG major to automate order management process, thereby reducing the turnaround time and improving reporting operations.
Srijan: New Delhi headquartered Srijan set up in 2002 is one of the largest pure-play Drupal company in Asia. The company provides rule-based automation for repetitive tasks in customer support, HR and finance and knowledge-based automation, powered by AI for processes that require human intelligence.
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Richa Bhatia is a seasoned journalist with six-years experience in reportage and news coverage and has had stints at Times of India and The Indian Express. She is an avid reader, mum to a feisty two-year-old and loves writing about the next-gen technology that is shaping our world.