Robotic Process Automation (RPA) takes over routine, rule-based tasks to increase the effectiveness of business processes and allow employees to focus on higher-value assignments. Yet, RPA at scale has been slow so far, but it has all the capabilities to speed up in 2020.
In recent years, RPA has become an efficient way to automate rule-based, repetitive tasks across a variety of business functions, including IT, Human Resources and onboarding, loan origination, marketing, and reporting functions. The popularity of RPA tools is growing rapidly since international banks, finance departments of well-known enterprises, and CEOs around the world started implementing RPA bots and share their astonishing results.
Research by Deloitte, based on 523 executives in 26 countries conducted in 2019, discovered 8% of organizations worldwide have deployed over 50 automations in their business, such as RPA, which is doubled from 2018.
Human employees will be released from tedious, repetitive assignments to follow more creative and analytical work, which will be at the crux of providing a better customer experience as part of delivering a business service through an end-to-end process.
"Most controllership processes have clear steps and defined rules. These manual and repetitive tasks are a perfect opportunity to leverage RPA."John Van Decker, VP Analyst, Gartner.
This is not about a distant future. It is the current state of the world. Analysts are addressing 2020 as the "breakout year" for significant organizational transformation powered by technology adoption. Particularly the move from manual work to integrating RPA and other intelligent automation technology.
The potential is realized, but the practicalities are lagging. The Deloitte research also found that 60% of companies have not yet considered how automation will require their employees to training.
"Organizations that reimagine how they work, take advantage of a combination of human and machine workforces. They have the skills and knowledge to harness intelligent automation will be best placed to take advantage of the opportunities the technologies promise," adds Justin.
2020 will be the year of RPA at scale
Companies that miss the leading automation boat will suffer as competitors take advantage of the increased productivity, efficiency, and decision-making power the new technology offers.
"2020 looks to be a breakout year for intelligent automation, as businesses combine robotic process automation with artificial intelligence and other technologies to enable new ways of working. By doing so, automation goes beyond the routine to the innovative, from collecting and processing data to predicting, analyzing, and making contextual decisions."Justin Watson, global robotics and intelligent automation leader at Deloitte.
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