The Past and Future of Robotic Process Automation 2020
Robotic Process Automation (RPA) is one of the most exciting developments in Business Process Management (BPM) in recent history. Some industry experts believe it may be even more transformational than cloud computing.
But is that this game-changing technology all that fresh? Any BPM practitioner using a feeling of history understands that RPA has been in existence for a long long moment. For example, inbound call centers are using Interactive Voice Response Systems (IVRS) for ages. These programs use robots to steer clients, accept key tone or voice-based answers, and pass instructions to the underlying use to finish a transaction.
In the same way, optical character recognition (OCR) technologies -additionally classified as applications robots–are employed for a little while today to provide high auto-extraction efficiencies. Additionally, since the coming of online solutions, the business has ever used net BOTs (short form for robots ) to get auto-posting of information. Software Testing business has employed a similar kind of automation for several years to post data in software to handle operational, integration, user, and much more significant regression testing.
What’s different about the most recent wave of RPA is that the maturity of the technology and the business processes it’s applied to. The marketplace for RPA is progressing quickly -and widespread adoption of autonomous automation can dramatically reshape the BPM market.
Cost reduction: Software robots are typically at least one third the price of an offshore FTE.
Efficiency: RPA can operate 24X7 without breaks provided the underlying core applications are available.
Accuracy: Human FTEs make data entry mistakes, whereas robots perform the same task the same way every time provided there is no judgment call required while processing transactions.
Improved audit and regulatory compliance: Robots can provide detailed audit logs enabling advanced business analytics and improved compliance.
Ease of change management: Robots preserve application and data integrity by leveraging the existing application presentation layer and re-using existing application logic, databases, and validation without deep understanding and re-engineering.
To sum up: RPA is not new. Without a doubt, you and your organization have already been touched by robotic automation in one form or another. However, they say there’s nothing as powerful as an idea whose time has come. And the time for RPA-powered transformation is now.