What Is Robotic Process Automation (RPA): Why Is It Important In 2020?

According to Gartner technicians, companies will cut their costs dramatically in the coming years if they invest in technology for intelligent process automation.

In recent years, robotic automation processes (RPA or Robotic Process Automation) has grown in popularity. For what some managers was a trend, now it becomes a necessity.

This is because when it comes to productivity and maintaining a competitive advantage, RPAs are bringing great benefits, not just in cost, but also in optimization and efficiency.

At Gartner, they expect that by 2022, about 80% of RPA automation will get its value from complementary technologies. This includes iPaaS, iBPMS, and decision management tools.

The expectation is that by three years from now (2023) there will be a 30% increase in the use of RPA for front office functions for sales and customer experience. Also, by that time 50% of RPA scripts will be dynamically generated.

Also Read: 5 Things You Need To Know About 5G Technology

Current Robotic Process Automation Status In 2020

According to Deloitte, 53% of organizations have launched RPA initiatives. In general, these companies need less than 12 months to achieve ROI. Likewise, 78% of organizations with RPA systems in use plan to significantly increase their investment in RPA.

A few years ago, most managers were learning what RPAs were. Now, companies that have already introduced RPA are learning how to move from their initial use case, trying to expand usage, and looking to find the maximum value.

What could have been an experiment in new technologies is now a staple for taking over reports, document processing, user management, and other tedious but important business processes?

Although not all companies have integrated RPA into their processes, the market is on course and the forecasts for the adoption of these technologies are high. So what should the manager on RPA systems take into account in 2020?

The Future Of Robotic Process Automation In 2020

1. Increase In RPA Adoption

Within Deloitte’s study, it is also revealed that in 2020 72% of companies will have started their steps to adopt RPA.

Managers are seeing great value in integrating RPA into their processes. And those who have not yet done so are seeing that their competitors are taking the lead in using that technology.

2. Increase In Financial Resources For RPA

With increased adoption, it follows that RPA spending will continue to increase. Forrester predicts that the RPA software market will reach $ 2.9 billion by 2021, compared to $ 250 million in 2016.

This incredible increase in just four years does not necessarily reflect an increase in the price of systems, but rather a growth in the adoption of RPA in that period of time. Companies that take into account how the software is priced can get real value and will be able to scale as they expand usage.

3. The Spectre Of A Possible Global Economic Downturn Will Spur Automation Adoption

After a few quiet years, the markets begin to show some indicators that could indicate that we are on the verge of a possible recession. Then RPA will become a necessity.

It will be important for companies to streamline their processes and improve their services, equipping themselves with digital assistants capable of dealing with repetitive and time-consuming tasks so that human employees can use their creativity and innovation with the aim of pushing companies further never.

4. Rethink RPA Strategies

By the end of 2020, some organizations will run into some regrets and look to other RPA solution providers as their initial project ended up failing.

The main reasons adoption often fails is a poor choice in the software/vendor, the technology was not aligned with business objectives, the use in the company was too isolated or because the software could not scale beyond the initial case.

Whatever the reason, managers will sit back down to decide more consistent strategies and to do better.

Conclusion

As more and more companies adopt and seek to improve with RPA solutions, the focus should be on choosing the right automation tool and processes, seeking to support employees and make the most of RPA capabilities.

Also Read: 3 Developments That Will Help to Drive AI Forward

TechSmashers
Tech Smashers is a global platform thatprovides the latest reviews & newsupdates on Technology, Business Ideas, Gadgets, Digital Marketing, Mobiles,Updates On Social Media and manymore up coming Trends.

RECENT POSTS

500 Million LinkedIn Profiles For Sale On The Dark Web

An archive containing data from 500 million LinkedIn profiles, including emails, phone numbers, and professional details. The Privacy Guarantor opens an investigation.

Here Are 7 Steps Test Before Choosing Used-mac

Choosing a second-hand mac can save your bucks but can be risky as heck. Certain loopholes or unauthentic login can send an...

5 Tips To Grow Your small Business

If you are the owner of a small business, you may not want it to become a large company. Of course, some...

Supply Chain Technology: The 6 Most Relevant Trends

Within Supply Chains, technology is becoming more and more complex. Here are the most relevant trends that managers need to consider for 2020 and...

Cybersecurity: What Awaits Us In 2021

The cybersecurity landscape has undergone significant changes throughout 2020 and has identified four critical trends that will need to be closely watched throughout 2021. In...

Sony Introduces The Ultra-Compact Speaker SRS-XB13

Sony introduces the SRS-XB13, a compact and portable wireless speaker capable of spreading sound virtually anywhere. XB13 delivers incredible audio in any context. Compact...

What Are The 3 Key Components Of Blockchain Technology

1. Peer-to-peer Networking Computers are connected through a peer-to-peer network. Blockchain technology lacks a centralized server that removes the control element that a company or...

How To Network Your Way To Success Using Only Your Phone

The phone has become one of the most useful gadgets in our lives. Whether we use it for games, social media, streaming or even...