Robotic Process Automation (RPA) – A revolution in the managed services industry
The revenue generated from robotic process automation is likely to attain a value of $1.3 billion by 2019, according to Gartner, Inc. The number of organizations incorporating this technology in their operations is increasing with every passing day. The primary aim behind the implementation of RPA is to streamline processes in businesses and to reduce associated costs.
With a plethora of robotic process automation providers available globally, a company engaged in the managed services industry can easily develop software that caters to automating their mundane chores while they can concentrate on enhancing client servicing.
What is RPA?
Robotic process automation is primarily a technology that can be implemented to automate business operations which are then governed by structured algorithms. The software can be implemented for tasks that include:
• Triggering responses.
• Collecting data.
• Manipulating data.
• Communicating with other digital systems.
In the managed services industry, the implementation of RPA is widely prevalent. Starting from simple processes like generating an automated reply to emails to deploying bots to complete automated jobs in an ERP system, it can do it all.
Key takeaways of Implementing RPA
RPA offers dual benefits when integrated with the operations of an organization. the prime takeaways can be listed as:
- Eliminates human error
- Reduces risk
- Eliminates Human Intervention in confidential areas
- Accuracy & Efficiency
- Security compliance
- Increases productivity
- Increases reliability & Consistency
- Reduces Operating Cost
- Reduces turnaround time
For instance, Deloitte LP, a renowned finance firm introduced RPA in their operations and witnessed a 30% reduction in the cost of recruiting more staff by deploying only 85 bots.
offer tailor-made solutions for organizations so that they can enhance their efficiency with automation and reduce the required costs.
Use cases of RPA
The introduction of RPA in the managed services industry can benefit to a far greater extent as the operations are flexible in the sector. Consider the following application areas:
• Automation process sales faster and generates invoices for customers.
• Customer onboarding is easier and completed instantaneously.
• Billing system is optimized by eliminating manual labor of entering data.
• Updating stored data becomes automated and saves time and error.
• Data extraction with the help of pattern recognition technology.
• Preparation of reports at any instant of a business deal by segregating relevant data.
Hiring a larger workforce can induce significant losses as the workflow will be purely dependent on manual work. Therefore, by automating those operations through RPA, businesses can cut off such losses.
Saudi Arabia – A hub for RPA
Saudi Arabia has come forward in this matter as it plans to remarkably overhaul its economy by 2030 by investing in AI and RPA. Theare likely to play a significant part in attaining the goal of generating about 12.4% of the country’s GDP by the end of this stimulated period through AI.
So, how do they plan to do it?
• Theare targeting an untapped managed services sector to attain their desired growth.
• Industries across the globe are likely to refer to theto implement automation in their operations.
RPA has no doubt revolutionized the managed services industry owing to a range of benefits that it brings on to the table. Organizations should know such implementations are beneficial for the long run and must be incorporated in the right way and place in order to attain the desired results.