Robotic process automation (or RPA) is an emerging form of business process automation technology based on the notion of software robots or artificial intelligence (AI) workers.
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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.
Uses Cases And Applications Of RPA
A recent article in Horses for Sources generated a lot of turmoil by stating that “RPA is dead.” So, we thought it would be interesting and helpful to look at and discuss the current reality of robotic process automation.
A recent Deloitte study based on responses from over 400 executives across the industry spectrum (global business services, shared services, finance, procurement, HR, marketing and operations) singled out three top RPA-related strategic priorities:
- Focus on continuous improvement (35%)
- Increase level of automation (24%)
- Develop analytics capabilities (17%)
The top priority in particular seems to be the furthest one from the opinion that RPA is dead.
Let us see then see how we can conceive the future of RPA,
Change Management Goes Hand in Hand with RPA
- Providing efficient training opportunities for the company’s staff is a vital component of successful RPA deployment, and good change management is one of its preconditions. And by “good change management” we mean one that is energetic, quantifiable and iterative.
- RPA providers’ approaches to change management that share these features are the most likely to have a significant positive effect. As an argument, half of the highest geared companies, and 36% of the lowest performing ones, consider that their culture of origin is a stumbling block in the way of a successful automation journey, according to HfS.
- Let’s zoom in a bit on the role of change management, more specifically, of human-centric change management. And no, this employee-centrism is by no means contradictory to automation, despite the spread of the “robots will steal our jobs” narrative, which is often used as a typical robotic process automation objection.
- The advance of RPA will undoubtedly have a deep impact on the workforce; however, this impact is better spelled out in terms of helping not of hindering the current work roles. Managing employees’ expectations with respect to the shifting scope of work should downplay the negative effect of the routine change on company culture.
- In fact, providing the necessary amount of training for all employees (in a top-down approach) involved in an RPA project is among the best RPA implementation practices. Training is necessary to ensure the positive connotation of the phrase “disruptive technology” that is often used to describe automation.
- It must include information about the objectives that RPA is meant to attain, how software robots can assist humans in performing their daily activities, and why their help shapes the way toward higher value work.
The Current Reality of RPA Implementation: Real-World Use Cases
Data management
- This is illustrative for a repetitive, high-frequency, high-volume process that no business can do without, irrespective of size or industry sector. Data from multiple sources, such as operational performance datasheet or personal records and files, must be selected for relevance, gathered together and analyzed coherently. On top of that, the analyses results must be promptly forwarded to the executives.
- Everything requires painstaking attention to details, which makes the process highly time-consuming, resource-exhausting, stressful and boring. But your team can be saved by software robots, that can do everything in a fraction of a time and error-free.
Procure-to-pay
- This is a part of the procurement process that is based on corroborated actions of two departments: purchasing and accounts payable.
- Front-end software robots are experts at consistently integrating data from multiple sources, and thus support your company’s well-aligned transactions.
- A good practical illustration of bots’ utility is the automation of payment portal receivables for FMCG food companies.
Promoting better investment options
- Bots can accurately track investment values without being hindered by sudden changes. The inherent risk of investing can be minimized by thorough, accurate assessment of investors’ portfolios.
- Software robots can also offer information updated in real-time about fluctuations on the stock market, and thus help you make better decisions. In other words, they can be your financial advisors for a much lower cost than that of human advisors.
Financial management and audit trail
The subprocesses involved in financial management have features specific to most automation-friendly processes: rule-driven, error prone and highly intolerant to error. By eliminating keystroke errors and routinizing decision logic, software robots can bring your company to the state of audit readiness in a quasi-risk-free manner.
Business and process analytics
- Benchmarks are necessary for the improvement of business processes and these benchmarks are often the consequence of analytics. Bots can easily track and record all the actions undertaken, from their position of experts on quantifying and appraising.
- Consequently, your employees gain direct access to information-loaded details for free, which significantly reduces their workload and allows them to focus on the interactions with the clients and respond better to their needs.
