Business leaders are always under the constant pressure of finding new ways to streamline and improve their processes whilst generating an increased ROI. Businesses across all industry sectors have been experiencing a dynamic shift in how they can conduct their operations with the groundbreaking rise of robotic process automation (RPA). Although RPA has been around for several years, it is only recently that enterprises are looking to synchronise their systems using this groundbreaking technological evolution. Up to 80% of finance leaders have already implemented or are planning to implement RPA, and by the end of 2024, the market is expected to reach $5 billion.
For those of you who don’t know what RPA is, it’s a type of software configuration also known as ‘bots’ that emulate the repetitive tasks carried out by humans. As these bots are operationalised, RPA enables businesses to redeploy staff to high-value work rather than focusing on repetitive tasks which, can lead to lower job satisfaction and hence increased staff turnover.
The benefits of RPA
The future of RPA is still unknown. However, it’s imperative to understand RPA before taking on its implementation within your business. The tangible and intangible benefits alongside the challenges should be evaluated. However, as technology has reached an excellent level of maturity alongside the complexities automation can deal with, RPA will be at the forefront of innovation in the years to come.