Top Robotic Process Automation (RPA) Trends for Successful Digital Transformation (DX)
In the race to digital transformation, robotic process automation (RPA) is often touted as a quick and effective way to optimize key business processes and extend the life of legacy systems. RPA has proven business benefits like cost reduction, greater accuracy, faster delivery of results. This has resulted in higher customer satisfaction because repetitive tasks are prone to errors when performed by humans. They have achieved better results in process improvement, research and other problem-solving methods, which have brought digital transformation (DX)
IT leaders need broader plans for RPA to bring digital transformation which includes aligning strategies, proper governance for supporting large software, process stability, cultural & organizational changes, transparent vision among team members and well suited metrics.
Use Cases of RPA triggering New Trends
The RPA service market saw tremendous growth in the last 2 to 3 years. According to Grand View Research, global RPA automation market size was valued at $ 1.40 billion in 2019 and expected to reach $ 11 billion by 2027. It has several use cases at present time.
- Banking & Financial Service: Banks embraced the automation of services or RPA, and a large number of repetitive and rule-based tasks were automated like KYC search, generating reports, etc.
In Insurance companies tasks like policy management, regulatory compliance are done by RPA.
- RPA in Healthcare: Healthcare has assimilated RPA in their internal process because it is directly connected with patients’ health. Most big hospitals have automated processes for policy management, prescription management, payment cycle among others, which has reduced the error and enhanced customer experience.
- In Recruitments: RPA system can receive resumes from various platforms, access value, classify spam or unsolicited applications, and other similar factors. This can reduce the pressure on recruiters and give them more opportunities to reach all candidates.
Robotic Process Automation (RPA) Trends in 2021
The adoption of RPA is increasingly becoming the cornerstone of improving efficiency in all industries. With the increasing popularity of automation and its benefits, RPA trends are rapidly emerging. Through new use cases, companies are looking for innovative ways to get RPA tools up and running.
- RPA in Cloud: Whether it is the medical RPA trend, the bank RPA trend, or the insurance RPA trend, the cloud is now a must. This means you can build an RPA infrastructure and deploy robots virtually.
- RPA-as-a-Service (RPAaaS): Many automation system integrators are taking advantage of the huge popularity of RPA and have plans to introduce the RPA-as-a-service (RPAaaS) model. RPAaaS will gradually reduce development and deployment costs, and drive the need for deploying the most impactful and most reusable components.
- RPA in Manufacturing Industry: The integrated transportation management system with RPA enables you to effectively control the transportation of your products.
AI Enabled RPA is the Future of Mass Automation
RPA can open up new horizons for companies and new potential to provide excellent and personalized customer service.
With innovation becoming a pillar of improving business operations, RPA doesn’t remain an option rather it’s becoming a need. Businesses need to carefully analyse the trends to capitalize on the customer experience. The implementation of RPA is still hard-bitten so starting RPA to replace small repetitive tasks is still better and then scaling it, this way it is more convenient to bring digital transformation.
The future of RPA will include the use of artificial intelligence, advanced data analysis, blockchain, business process automation, optical character recognition (OCR), and other future technologies in combination with smart technologies. To get deep insights on RPA trends visit our blog.