Robotic process Automation – Need for Greed

Robotic process automation (RPA) is a technology of the present as well as the future which will enable the IT industry to test its products with the utmost scope and minimal human interaction. RPA is based on the idea of robots supplementing the human workforce has been around since automation testing entered manufacturing on the production line, but today robotics is reaching out on further levels of maturity.

Definition of RPA
It is an extremely fascinating new development in business automation that allows companies to create software robots that are able to self-operate any business process. Moreover, RPA enables IT firms to mend back-office processes and take routine, recurrent processes out of the hands of knowledge workers, so that they can utilize their time in more profitable areas. Furthermore, RPA copies the task that a human performs within a process and executes it automatically.

Reasons for opting for RPA
RPA holds the power to automate almost all the recurrent, mundane and rule-based tasks more rapidly, precisely and vigorously, compared to a human being. It uses a robot that possesses tactile integration and self-regulating capabilities which can mimic human interactions with web applications, websites, Excel worksheets, legacy green-screen apps, and email and assists automate the tasks. RPA is economically efficient than any other automation solution that exists simultaneously.

The purpose of RPA is to increase competency. There are multiple benefits of RPA that exist to help companies make better use of resources.

RPA is achieved by designing bots for performing the job, which you allocate to them and that you control. You effectively show the bots what to do, explain the problem within the process to them, and then let them get to work.

Most back-office processes in an organization are recurring and do not require a great share of intellective effort. In many companies, most of them are still done by humans, who generally sit in front of computers copying and pasting huge bulk of information. Companies can rely on RPA to decrease the turnaround time for repetitive tasks. Reduced errors will eliminate the time required for corrections and compliance, resulting in quicker inversion times and improved client satisfaction.

RPA requires procedural inputs
It is important however to understand the constraints of RPA and do not expect it to operate like cognitive intelligence or AI does. RPA has been composed to deal with simpler tasks, those that do not need knowledge or insight to execute – tasks that can be done by programming protocols and telling the software what to do.

Leading Players of RPA
The major active companies in the RPA are

• Automation Anywhere
• UiPath
• Cicero Inc
• Blue Prism
• Pegasystems 
• OpenConnect
• NICE
• IPsoft Inc
• Softmotive
• Cognizant Technology

Implementation areas of RPA

• Finance Services
• Accounting
• Human Resource Administration
•  Healthcare
• Supply chain management
• Customer Service

Industry Upcoming Trend for RPA

The RPA market was worth around USD 0.66 billion in 2015 and is expected to reach approximately USD 53.22 billion by 2024. These facts show that the future of RPA is very bright. Today, RPA has reshaped how companies across the world manage their business activities, especially in terms of enhancing and streamlining operations.

Conclusion

RPA is, without a doubt, a sophisticated solution to overcome the issues in traditional work environments. If properly imposed, businesses will definitely benefit from it and enjoy returns on their investments. Moreover, IT firms should also understand that humans and machines on their own are insufficient to drive businesses in the coming years. Successful companies in the future will be those that know how to combine the two effectively.