RPA improve business operations and transactions in a numerous way. It gives employees independence of performing several tasks through computers and tools than manual operations. Learning RPA promises a leading career with top multinationals across the globe.Enroll now with us ACTE Robotic Process Automation (RPA) Classroom & Online Training Course.
The growth of the industry and widespread adoption of RPA will drive job growth as well. Many types of jobs are available in RPA, including developer, project manager, business analyst, solution architect, and consultant. This is fact, going to be the future and most important thing in the coming years. RPA in the future is going to incorporate the following things: Incorporating AI for advanced decision-making and inferencing.
Meanwhile, there are so many good opportunities are been involved in the future scope of RPA can be observed in the field of data entry and data rekeying jobs. These tasks could easily automated with RPA. The various repetitive tasks such as formatting, data assembling or anything, which requires a series of steps, that can easily carried out with the help of RPA. RPA will definitely become the next revolution in technology and you will surely find thousands of jobs opening every year. There are more than 5 million jobs awaiting you, right now.
However, robotic process automation (RPA) anticipated evolving and soaring over the forecast period. The modern enterprises need robotic process automation for faster implementation, execution, and scaling. Technological advancements have triggered businesses to overcome new challenges aimed to cope with changing consumer demand and requirements. In the recent past, the adoption of robotic process automation has captured the attention of many SMEs and large enterprises. This can be able to attribute to RPA’s ability to deliver seamless operation coupled with significant value addition from the resources.
We are happy and proud to say that we have strong relationship with over 700+ small, mid-sized and MNCs. Many of these companies have openings in Robotics. Moreover, we have a very active placement cell that provides 100% placement assistance to our students. The cell also contributes by training students in mock interviews and discussions even after the course completion.
Absolutely it’s an future field where, According to Forrester Research (Nov 2015), up to 9% of the global workforce will be threatened by RPA software in the near future. The change is coming, and it is up to process improvement professionals to prepare for this disruption by properly educating their corporations on the do’s and don’ts of RPA. Robotic process automation (RPA) been heralded as the next big thing in process management. Google Trends reports show that the last 2 years have seen a peak in interest in these technologies.
The Difference between Robotic Process Automation and Artificial Intelligence. RPA is a software robot that mimics human actions, whereas AI is the simulation of human intelligence by machines. RPA is a technology that uses specific set of rules and algorithm and based on automated a task. Mean While AI is focused more on doing a human-level task, RPA is practically a software that reduces human efforts — it is about saving the business and white-collar workers' time.
Robotics Process Automation (RPA) allows organizations to automate task just as a human being was doing them across application and systems. ... RPA does not require the development of code, nor does it require direct access to the code or database of the applications. Initially, coding skills are not required. However, if you want to learn more of RPA, at least one programming language would be required to extend the existing RPA functionality. There are no prerequisites for Automation Anywhere. No coding is required..... Automation Anywhere empowers organizations to automate the processes that has been executed by the humans.
Our courseware is designed to give a hands-on approach to the students in Robotics Automation. The course is made up of theoretical classes that teach the basics of each module followed by high-intensity practical sessions reflecting the current challenges and needs of the industry that will demand the students’ time and commitment.
In 2020, RPA is going to claim its place as a central platform for other enterprise automation tools. RPA has been around for the last few years and has advanced considerably. It can manage any types of tasks that are repetitive and predictable. It frees up the resources to focus on tasks that require creativity, decision-making and judgement. As per Forrester, RPA Market will reach $2.9B by 2021.
The future certainly belongs to RPA, and workforces around the world are investing heavily in this efficient technology to fast-track organizational efficiency, effectiveness and profitability. Nonetheless, global robotic process automation has come a long way since 2016. At the time, RPA software purchases amounted to $73 million. This increased to $113 million in 2017, $153 million in 2018, and $192 million in 2019. In 2020, HFS Research estimates that this figure will rise to $232 million and by 2021 to $272 million. These projections indicate that there is strong growth in RPA adoption in the global market. RPA services have increased rapidly since 2016, rising from $198 million, to $630 million in 2019. By 2021, that figure is expected to rise to $952 million. Experts roundly agree that RPA is the future of IT automation
The growth of the industry and widespread adoption of RPA will drive job growth as well. Many types of jobs are available in RPA, including developer, project manager, business analyst, solution architect, and consultant. People are often concerned about robotic process automation taking jobs away from real people. But a lot of companies who need manual data entry already aren’t hiring local employees for those tasks. They’re outsourcing their data entry overseas. Since the bots would be managed/hosted here in the USA, using RPA actually repatriates jobs.
Benefits to Analytics
Improved data quality:
Reduction in manual errors lead to higher quality data, enabling more reliable analyses.
Increased scope for data collection:
- Robots interact with legacy systems uncovering data that was previously labor-intensive to extract.
- This enables analytics team access more data which leads to more accurate analyses.
Reduced workload:
Automating reports is especially valuable for the analytics department, allowing them to focus on more sophisticated, custom analysis.
Benefits to HR
Employee satisfaction increase:
No one wants to spend all day copying data from one system to another. Appreciation of work emerges as one of the strongest driver for employee satisfaction in numerous studies like this BCG study.
RPA has the potential to increase employee empowerment. Especially solutions like no code RPA aim to democratize automation development. If employees can build and maintain their own automations, it is a significant empowerment for them. They can focus on more interesting and challenging tasks, increasing their job satisfaction.
Reduced churn:
Over time, automation will reduce the speed at which you hire for growth. As a result of this efficiency increase, you will be managing a smaller, more effective and satisfied workforce. This will give you plenty of opportunities to reduce churn
Employee brand boost & reduction in hiring costs:
This is an indirect effect but reducing manual labor boosts satisfaction and makes a company more attractive, facilitating hiring.
Benefits to Technology Unit
Reduced workload:
As business users are empowered to automate their processes, IT will get less small automation requests.
Improved focus:
Focus is key for any department. However, focus is especially critical for IT as IT has the challenging tasks of serving all departments. Having less automation related work allows IT to focus on more important technology problems.
Compliance benefits
Thanks to RPA, human contact with sensitive data can be minimized, reducing probability of fraud and compliance issues.
Audit trail is maintained, allowing detailed audit in case issues arise.
Financial Services
Banking
Know Your Customer (KYC)
- While dedicated KYC solutions are emerging, if your company does not prefer to use one, it is possible to use RPA bots to automate portions of KYC process.
- For edge cases that require human intervention, case can be forwarded to an employee.
Loan processing
As with most document processing tasks, this process is also suitable for RPA automation as complex business logic can be embedded in bots partially automating loan decisions and the manual processes that follow the decision
Trade execution
- In cases where legacy systems are not capable of storing complex limit orders, RPA bots could help. However, this is more of a band-aid case as in the long run, moving to a sophisticated and capable trading system would probably be a good investment given how it could improve trading and reduce the load of traders.
- Even in 2000s, working as a software engineers working with traders, I was surprised that humans were still keying in trades and engaging in day trading in banks. Given the richness of data and speed of machines, it is surprising that there are still humans working on this.
Same day funds transfers:
- Banks need to complete payments using The Clearing House Automated Payment System (CHAPS) which offers same-day funds transfers.
- The manual process which took 10 minutes per request was automated and reduced to a few seconds of turn around time per request. Process steps include checking for fund availability, performing the transfer to the point where manual authorisation is required without error, charging the customer and notifying the account.
Account Closure:
- In Banks, account closure was lengthy and time consuming. It required the manual cancellation of direct debits and standing orders, transfer of interest charges and the transfer of funds from one account to another etc.
- Now the system is automated with RPA so customer service agents can complete an electronic form over the phone which is sent to a central mailbox where it is processed by the RPA system with no manual intervention.
Validating and processing online loan applications:
Blue Prism was used to built intermediary bots between the online system and the main frame that used business logic to ask the user to fix incorrect entries, make the loan decisions and generate confirmation letters
Audits:
- Banks need to reply to requests by the auditors for company audit reports.
- Bots have been used to find all the customer’s accounts year end balances and returns the audit to the audit clerk in the form of a
Word document.
- This can reduce an average audit which can take several hours to complete and a large audit that can take several days into an operation that can be completed in minutes