Robotic Process Automation

Configure your digital workforce to emulate and integrate the actions of a human resource to execute business processes.

Robotic Process Automation (RPA) software allows to capture and interpret a business process (which involves existing applications for transaction processing, data manipulation, response triggering and communication with other digital systems), in a repetitive, audited and controlled manner.

Gartner predicts that “by 2020, end-user spending on Robotic Process Automation software will reach $1 billion, growing at a compound annual growth rate (CAGR) of 41% from 2015 through 2020.” The forecast says that “by 2020, RPA tools will have evolved to include more types of functionality, such as AI software, but will experience strong downward pricing pressure.” In addition, “by 2020, 40% of very large global organizations will have adopted an RPA software tool, up from an estimated less than 10% today.”

Some industries, like financial services and retail, have taken the lead with RPA, while manufacturing and healthcare firms have recently increased traction.

Benefits of RPA adoption for Enterprises:

There are a variety of benefits driving Enterprises towards RPA. Most significant are the potential cost savings: up to 55% for deterministic, rule-based processes. Speed of execution, accuracy, and compliance are key RPA benefits for organizations, in particular for financial services firms.

Organizations that combine RPA with additional digital technologies, such as dynamic workflow, machine learning, and/or natural language processing (NLP), are realizing greater value by achieving intelligent automation. A commercial financial services firm, for example, has applied these technologies to its underwriting process for loans. NLP reads an applicant’s financial statements and any information in the public domain.