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Robotic Process Automation in the digital age, the business climate is rapidly transforming as there is always scope for improvement. An organization needs to continuously evolve its process to grow and stay relevant. Enterprises are constantly looking for ways to improve performance levels and gain an edge over the competition as a result of which many businesses worldwide are adopting automation as a key strategy to thrive.
The value of the global robotic process automation market size is $1.40 billion in 2019 and is expected to reach $11 billion by 2027.
RPA – the face of Automation
RPA (Robotics Process Automation) allows organizations to automate tasks across various applications and systems. RPA automation can be used to automate workflow, infrastructure, back-office processes which are labor-intensive to streamline business processes, improve speed, productivity, and efficiency, achieve rapid scalability with fewer errors with less cost. The most beneficial part of the RPA is that it does not require the development of code, nor does it require direct access to the code or database of the applications.
RPA technology is a game-changer for businesses to achieve high levels of ROI (RPA investment has a 9-12 months payback period). Employees spend about 10%-25% of their time on repetitive computer tasks regularly. With the advent of a typical rules-based process like RPA, 70%-80% of the process can be automated so that employees can shift their focus to more value-added tasks.
Here’s a list of all the benefits that deploying RPA in business can bring –
Optimize resource use – To achieve high efficiency in business operations elimination of errors is necessary. Human errors are prone to occur while carrying out repetitive tasks. This risk is significantly eliminated by implementing RPA.