What is RPA?
Robotic Process Automation (RPA) is one such technology that is an emerging form of digital transformation that runs on computer programs and software that automates business processes especially that are repetitive in nature. It is a subset of Artificial Intelligence and Machine Learning.
What basically RPA does is it eases business processes like:
- Interpret applications
- Transaction processing
- Dealing with data
- Automatic reply generation of mails
The repetitive tasks that occur in offices are automated with a tool like RPA.
RPA might not be a familiar term for many because it is known to the public in the form bots, responsive chats etc. It will be surprising to know that these are the forms of RPA that you are availing services of. Auto generated e-mails are also part of RPA and these are the various forms in which the public perceives the technology.
Did you know that RPA has the ability to automate up to 45% of the activities of finance firms, doctors, educational institutions, let alone IT and other software industries. What it usually used to be mere web scrapping (copying data from a website) and macros technology (tool that developer use to re-use code that makes tasks less repetitive), RPA has redefined the standards of automating office processes.
Benefits of RPA:
Even though RPA works on manual inputs, as a rule-based and systematic task it has the following benefits:
- Improved internal processes
- Low technical barrier
- Cost effectiveness
- Process developments
- Redistribution of resources to higher value functions
- High accuracy
- Lower operational risk
- Better productivity
- Enhanced Quality of Service
- Customer satisfaction
- Improved compliance
What RPA Offers In the Current Global Labor Market Context?
RPA is estimated to have the ability to replace approximately 9% of the global workforce, but it is creating new jobs in the place of existing ones. It is inferred that RPA have the capability fully automating only less than 5% of businesses and can partially automate about 60% of the occupations.
RPA offers career opportunities that includes developer, solution architect etc., and will be one of the most paid jobs in the coming years. As far as the technological trends are concerned, RPA is assured to drive new waves of productivity and efficiency waves in the global market and global businesses.
If you are in the path of exploring opportunities to repetitive, manual and tool based tasks, then RPA is your answer! However, as already mentioned every automation procedure is not possible through RPA, but certain BPM practices that the companies are still practicing can be replaced by employing RPA tools. BPM practices used to be implemented in few months to years’ time, but with RPA the maximum attainable automation can be accomplished in few weeks to few months’ time…!!