Software Robotic Process Automation (or RPA for short) is used to automate every-day, rules-based tasks. RPA solutions, often referred to as ‘bots’, can be configured to manage mundane business activities independently and in many cases, with little or no human intervention.
Business optimisation through technology is a focus area for many organisations today. According to Brian Kropp, group vice president of Gartner’s HR practice, more than two-thirds of business leaders believe that their organisations could lose their competitive edge if they do not achieve significant digital transformation by 2020.
Last week Velocity IT, a digital technology services firm with offices in the UK, India and South Africa, hosted a morning workshop at the trendy Citizen M Hotel in London. The topic of the day was robotic process automation (RPA); what it is, how it works and how to use it to produce financial and productivity benefits within a business.
Demand for robotic process automation (RPA) solutions continues to escalate. Research firm Forrester predicts that RPA market growth will reach USD 2.9 billion in 2021, up from just USD 250 million in 2016. But before you put software robotics front and centre of your business optimisation strategy, there’s a caveat. According to the same Forrester report, “to be sustained, RPA must offer more than plugging gaps in legacy systems”. Like any technology, RPA has its capabilities and shortcomings – and these need to be understood in the context of your business as well as the broader process automation landscape.
Automation technologies help firms to optimise resources, elevate performance and maintain a competitive advantage. In industries where growing regulatory pressures, data volumes and customer expectations are a challenge, robotic process automation (RPA) can lighten the load. RPA solutions can be configured to automate routine, repetitive and time-consuming processes. The software ‘bot’ operates on application user interfaces (UI) in the same way a human would – only much faster and more accurately.