Robotic process automation (RPA) is rising, and this new technology is poised to revolutionize business. Today, more than 4 million software robots are working in enterprises worldwide. This blog summarizes what they can do, how they work, and an overview of the market opportunity for robotics process automation.

RPA

Robotic process automation (RPA) is a software technology that allows for the building, use, and management of software robots that can interact with digital systems and software. These robots can perform activities including system navigation, data analysis and extraction, and screen recognition. RPA robots can perform a growing range of mundane tasks with low mistake rates while operating faster than humans.

RPA is poised to transform how companies operate and how consumers interact with robots. While RPA has existed in industrial settings for quite some time, its use has been isolated to specific industries. Now, RPA technologies can handle various tasks in various markets, including manufacturing, finance, healthcare, transportation, retail, and travel. RPA offers the opportunity to reduce workload (human or “physical” capital) and business costs by enabling machines to perform tasks that were once beyond the capabilities of human beings. While there are other aspects of this technology, machines can accurately identify patterns that are not easily identifiable by humans, which is a key driver within the industry.

The potential benefits for a business to adopt RPA technology are numerous. Efficiency, accuracy, and employee satisfaction are the most important factors for companies committing to RPA. When employees are unburdened by repetitive tasks, they are freer to innovate, collaborate, create, and communicate. Notable companies pioneering and providing business solutions through the application of RPA include UiPath, Microsoft, and Amazon.

Leading the Charge

UiPath is widely considered the leader in helping businesses implement RPA software. They offer comprehensive customer service to business clients in the process of programming software robots to complete required specific tasks. Some available tasks include logging into systems or applications, moving files, copying and inserting data, filling in forms, and doing routine reports or analyses. UiPath also claims that “advanced robots can even perform cognitive processes, like interpreting text, engaging in chats and conversations, understanding unstructured data, and applying advanced machine learning models to make complex decisions.”

AWS Step Functions, Amazon’s serverless workflow orchestration service, simplifies and accelerates workflows in your business. With Step Functions, you can easily configure a visual workflow editor and connect API endpoints to build processes that integrate with existing systems. The results of your application automation can be updated in real time, offering a more flexible and efficient way for teams and customers to interact with critical applications.

In 2019, Microsoft reimagined the workflow application known as Microsoft Flow and released an RPA-capable version called Microsoft Power Automate. Like similar RPA applications, it allows for automating repetitive and time-consuming business activities. A significant advantage of Microsoft Power Automate comes from the ease of setup and coding not being necessary for utilization. Thousands of pre-built connections and templates, along with flow chart visualization, are very attractive to potential clients as well.

With a similar limited-coding structure to Microsoft, Aiwozo AI Work Zone is a well-regarded RPA outlet. An advantage of this platform is the combination of Artificial Intelligence and RPA components. The Aiwozo Enterprise platform can handle large-scale RPA activity and is easily modified to suit companies of any size. The Studio feature is easy to understand and allows for creating and editing automation operations. The WorkZone feature monitors bots to compile reports, perform activities, and extrapolate data from automation processes.

Business Advantage

‍Implementing RPA technology can give businesses several advantages, including boosting productivity, saving time, increasing accuracy, improving data security, and enhancing customer service.

According to Kofax, a coordinated team’s capacity for work and time spent processing data or other information can be cut from 30-50% using an efficient automation system. Low-level work is decreased or eliminated, freeing employees to work on high-level tasks with fewer distractions. Saving time and boosting production will generate savings with the same (or better) labor output. With variable work volume throughout the fiscal year, companies often hire temporary workers to deal with additional needs. The flexibility of automation bots can reduce that necessity and save businesses capital.

Accuracy advantages can have positive changes to a business model as well. RPA platforms can be set up to minimize or even eliminate common points of human error in a workflow. For example, departments that deal with account payments can be automated to account for invoices and costs, eliminating the chance of accidental double payments and other mistakes. Eliminating wasted money and time in correcting financial errors benefits any business model.

Improvements in data security can be attained with the introduction of RPA models. Numerous platforms assist in developing strictly defined parameters, which diminishes the risk of leaks and inspires confidence in data security. When dealing with personal data regulations, automation can reduce the number of humans needed to contact confidential information. Organizing sensitive information can help businesses process personal data while achieving privacy regulations.

Improvements to customer service through automation can be beneficial to businesses and consumers. Automation can streamline service by automatically providing customer information to representatives when contacted. Manually retrieving the information is a drain of time for companies and negatively impacts customer experience. With this key information being put in front of reps instantaneously, quality and relevant responses to service questions can be made in a timely manner.

The Dura Digital Takeaway

‍Robotic process automation (RPA) is a rapidly growing technology that has the potential to revolutionize the way businesses operate. Companies like UiPath, Microsoft, and Amazon are leading the charge in providing RPA solutions to businesses. Don’t miss out on the opportunity to transform your business with RPA. Contact us today to learn how we can help you implement RPA technology and reap the benefits of increased efficiency, accuracy, and employee satisfaction.