Robotic Process Automation (RPA) Training in Bhubaneswar

Applications Of RPA

Where robotic process automation makes sense: processes, use cases, industries and beyond

Finally, from a ‘types of processes’ and ‘types of industries, use cases and applications’ perspective we mainly see robotic process automation in following areas.

Processes fit for RPA

• Processes where chance of human error is high, legacy systems are in place, routine tasks and essential transactions are involved, human involvement isn’t strictly needed, high volumes (and many process and manual tasks)are concerned and staff indeed can generate far more value where it matters: in human interactions.
• In customer service, for instance, one of the areas where we’ve seen loads of automation and digital tools such as chatbots and self-service tools, the need for human interaction with knowledgeable and empowered staff is high, one of the areas where it’s clear that people want people when it matters (as we saw with robo-advisers).
• Examples of processes: procure to pay, human resources, onboarding (of customers, employees, patients, providers and more), simple IT-related and data-related tasks and various types of transactions.

Robotic process automation on an industry level and beyond

• On the level of industries, use cases and applications, on top of customer service and the financial services industry (including insurance)where robotic process automation is hot (the financial services industry is also the main market for sourcing services), there is the telecommunications and media sector, manufacturing and utilities, retail and more.
• The healthcare industry, finally, rises fast in sourcing in general and also in robotic process automation. In an older article on how healthcare providers and payers boost digital transformationdeployments we mentioned how robotic process automation and process reengineering, among others, ranked quite high in planned initiatives on the healthcare payers side according to IDC.
• Robotic process automation is part of the business process management and automation toolkit, working hand in hand with other applications. So, of course it has an impact on the sourcing market, on BPOs, on shared service centers and so on in the as-a-service economy approach. Automation is essentially what most of them do and, as said, what most businesses in transformation do.
• Many of the use cases and types of processes (and their characteristics), also for the future, overlap with those seen as ideal for blockchain.
• Robotic process automation nor future intelligent process automation applications leveraging ‘real’ artificial intelligence will remain relevant on their own as mentioned since systems change, blockchain, IoT, AI, RPA and so forth will become part of the future digital process equation and some types of processes and BPO activities will be disrupted, also by regulations and obligations in areas such as e-invoicing where in some regions regulators are pushing the agenda and ultimately procure to pay will be fully automated.

Intelligent automation and robotic process automation

• It’s clear that robotic process automation plays an important role in the digital transformation strategyof most organizations. As adoption of RPA continues with clear differences per region, industry and process (again, RPA is not a solution for everything) all in all many organizations are only discovering it now.
• Robotic process automation and the usage of software robots is considered as a potential threat to jobs. While employees can benefit from the automation of specific processes and higher job satisfaction has been reported when mundane tasks get taken care of with RPA, it’s clear that automation leads to a loss of jobs.
• Yet at the same time it’s clear that RPA is part of a broader integrated automation approach whereby the term intelligent automation is often used. And when we speak about intelligence these days it isn’t just about being intelligent and strategic in a sense of business but about intelligence of the artificial kind. We need to watch out though as AI is a bit used for everything and nothing.
• First about that integrated approach. As said, before many vendors are following the path of integration.
• IBM’s digital businessautomation approach is an example of this evolution. Whereas previously IBM partners and customers bought the case management solution of IBM, for instance, today they de facto buy a suite that also includes data capture, content management, RPA etc. (which doesn’t mean the modules can’t be used for a specific purpose only, e.g. case management, you just can’t buy IBM Case Manager anymore).
  As you know artificial intelligence is a huge umbrella terms.
• A lot of what has been called AI already ages ago obviously also plays an important role in anything that concerns process automation and the automation of anything that, in the end, has to do with the capture and management (classification etc.) of information. Just think about the advances in OCR (intelligent OCR).
• Yet, when analysts speak about the combination of AI-enabled automation or the interplay of robotic process automation that’s usually not what they refer too. But some vendors do.

The market of robotic process automation vendors: forecasts and dynamics

• The forecasts regarding RPA software spending as per usual differ, depending on the analysts.
• RPA software spendingis on pace to total $2.4 billion in 2022 with banks, insurance companies, utilities and telecommunications companies as main adopters according to Gartner
• It’s also a rapidly evolving market.
• Even if, as said, many companies are only beginning, there are ample evolutions going on whereby integration with other platforms, evolving go-to-market approaches, a more holistic automation perspective, verticalization and the injection of technologies such as artificial intelligence and machine learning, are just some.
• We also see deals being struck between RPA tools vendors in specific niches and other vendors or information management companies that can expand and enhance the offering of these vendors. Examples include the addition of intelligent capture.
• The company expects the market to total $2.4 billion in 2022 – a 57 percent year over year increase.
• Also expect new players to enter the market and ‘a growing interest from software vendors, which include software testing vendors and business process management vendors that are looking to gain revenue from this set of functionality’.