Is Robotic Process Automation Recession Proof?

Get our weekly newsletter for the latest insights

    Recession seems all but inevitable, as stocks have plunged to bear market levels. Yet there are certain industries that could be insulated. There will also likely be changes in consumer and business behavior that will be lasting.

    No doubt, it seems like video conferencing and remote work will become increasingly mainstream. But there are other corners of the tech industry that could be poised for transformations. One is actually Robotic Process Automation (RPA). 

    “RPA can help save an organization money by automating any repetitive task that a human does with keyboard and mouse, as well as tasks in legacy systems that can’t be accessed via APIs and Web Services. RPA bots accelerate ‘low-hanging fruit’ processes in every business like opening email and attachments, filling in forms, reading from and writing to databases, making calculations, collecting social media statistics, and extracting data from documents, all very quickly.”

    Vadim Tabakman, the Director of Technical Evangelism at Nintex.

    But RPA is not just about efficiency. It can help with improving customer experiences, which will be essential in retaining revenues. 

    RPA must go beyond just task automation. There must be a broader approach.

    “The fourth industrial revolution (4IR) is disrupting every industry but it also represents a major opportunity to address these very needs—taking advantage of new technologies from data and analytics to RPA,” said Mohamed Kande, who is PwC’s Vice Chair, US and Global Advisory Leader. “4IR investments can help companies weather any downturn while also positioning them to emerge stronger. And business leaders agree. Based on a recent survey we conducted, 63% of business leaders believed that 4IR technologies will provide protection against an economic downturn.”

    Originally from Forbes

    To find out more about Opportunities that companies get by implementing RPA right now in our article How RPA Helps Businesses Deal with COVID-19 Crisis or book personal meeting with our automation expert.