Trends in RPA: A shift in how buyers and service providers do business
New levels of process and delivery optimization are expected for service providers across the value chain. Not only is RPA recognized as a disruptive technology, it has provided the tools to enable service providers to move away from low-skilled, repetitive rule based FTE based contracts to higher value engagements, which also help build deeper and more strategic relationships with their clients.
As a result of RPA implementations across industry specific and horizontal processes, we expect to see FTE reductions of more than 25% and a shift towards non-linear outcome based pricing. As RPA is acting as an enabler for technology- led process automation initiatives, businesses will need to be highly proactive in using their outsourcing partners for outcome-based complex project engagements that derive significant business value. IT/BPO service providers will need to deliver cost effective, differentiated solutions at a much faster pace without compromising on quality. Client organizations will continue to demand more innovation while tying payouts linked with outcomes.
RPA has emerged as an opportunity for service providers to derive further value from their business model, delivering a more streamlined and effective way to radically shift the way processes have been managed across industries. 92% of service providers surveyed confirmed their commitment to invest in RPA technologies to expand non-linear revenue growth opportunities. This is strong recognition of the significant value expected from this new area.
We believe RPA will revamp how traditional service providers have been operating over the last decade. Some of the key future prospects that we see arising from are now covered in the following sections:
Advanced RPA Technology
Staying at the forefront of innovation is crucial in continually expanding technology. Advanced RPA solutions use artificial intelligence, machine learning, and cognitive skills to advance automation. These technologies aren't simply automating mundane chores; they're also making cognitive judgments, learning from data patterns, and adapting to new settings on the fly.
The future of RPA is built on adaptability and scalability. Advanced RPA systems interact smoothly with current IT infrastructures, resulting in a smooth RPA installation. They enable businesses to automate complicated, rule-based operations with exceptional efficiency, resulting in considerable cost savings and increased productivity.
Furthermore, RPA trends are moving the sector towards improved analytics and data-driven decision-making. Organizations can acquire significant insights from their automated processes with advanced RPA technologies, resulting in better-informed business strategies and boosting innovation.
Our knowledge of the most recent RPA developments and RPA deployment guarantees that your organization is well-prepared for the revolutionary journey that RPA technology will take you on.
Now, let's embark on the RPA implementation journey to automation excellence and learn the limitless opportunities that advanced RPA provides for your organization.
Starting the RPA implementation journey is a strategic step that can change how an organization functions. RPA adoption is more than just automating your operations; it's about increasing productivity, accuracy, and scalability while guaranteeing seamless connection with your existing systems. Our professionals specialize in developing customized RPA deployment plans suited to your business demands and objectives. Here are the necessary steps for RPA implementation.
Process Selection and planning: Prioritize processes based on complexity and ROI, aligning them with future business goals. Set clear objectives for RPA implementation.
Feasibility Assessment: Evaluate technical feasibility and suitability, involving experts and stakeholders.
Optimization: Restructure and standardize processes for efficient automation.
Development: Create tailored automation using RPA tools like UiPath or Blue Prism.
Deployment: Confirm and deploy the refined RPA solution into operations.
Testing and Refinement: Thoroughly test processes and collaborate for improvements.
Documentation and Reporting: Maintain process documentation and track ROI using analytics.
Continuous Improvement: Regularly assess and identify areas for further automation and improvement.
Our approach to RPA deployment is based on keeping at the forefront of RPA technological breakthroughs as the future of RPA unfolds. We use trending RPA technologies beyond ordinary operations, making cognitive judgments using artificial intelligence and machine learning. It enables an organization to automate complicated procedures and adapt to changing surroundings quickly.
Furthermore, we stay on top of the newest RPA trends to guarantee that your RPA installation is future-ready. We recognize that RPA is not a one-size-fits-all solution, so our specialists collaborate with you to develop an RPA strategy that maximizes your ROI while also preparing your company for the dynamic future of RPA.
The Rise of Autonomics
With the continued rise in labor costs in major off-shoring destinations, robotic automation will offer immediate value as it replaces human operators with robotic FTEs. As next generation robotic automation software vendors continue to invest in new technologies, we expect to witness the rise in self-learning and artificial intelligence capabilities embedded across RPA applications.
In the near to mid-term, we expect a new breed of software vendors to develop advanced data mining and analytics capabilities. These will further expand the scope of automation across more complex processes and enable automation of processes which involve varying degrees of unstructured content/data.
Examples of the type of unstructured data that may be mined or analyzed to determine an action include freeform emails or feed from social media.
By leveraging an increase in autonomics, organizations will need to do the following to guarantee a successful RPA implementation:
- Re-engineer their existing processes
- Streamline evolving business requirements
- have strong change management controls and governance framework
The net impact of increasing autonomics will continue to erode any labor arbitrage benefits from process off-shoring, and this will lead to increasing consideration towards in-sourcing as a strategy, as discussed next.