How RPA (Robotic Process Automation) is Powering Digital Transformation Across Industries

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Image: Robotic Process Automation (RPA) Powering Digital Transformation Across Industries

Robotic Process Automation, or RPA, has taken a greater stage as organizations can use this technology to configure software “robots” that process transactions, trigger responses, and communicate with other systems based on captured and interpreted applications.

In a nutshell, RPA automates repetitive tasks previously carried out by humans – transforming the way companies operate. There are routine yet time-consuming tasks that sap productivity in nearly every industry, including manual data entry, form filling, and invoice processing.

Enter RPA. Early adopters across sectors soon discovered the technology could deliver astounding improvements – sometimes exceeding 500% – in the speed, accuracy, and compliance of routine back-office functions.

Equally compelling is the rapid return on investment – some projects report ROIs above 300% within the first year alone. This is driving more companies to explore how Robotic Process Automation (RPA) can optimize their operations.

The Global Opportunity

According to Gartner, the worldwide market for low-code development technologies is projected to total $26.9 billion in 2023, growing nearly 20% from 2022.

North America dominates spending due to early technology exposure and a thriving RPA vendor landscape like Automation Anywhere, UiPath, and Blue Prism. However, Europe and Asia-Pacific are rapidly catching up as use cases demonstrate the solution’s versatility across verticals.

India especially has emerged as a hotspot. Leading global in-house centers and business process outsourcers are automating work through dual delivery models that blend human and digital workforces. This is re-architecting global operations while positioning companies at the forefront.

Improving Operations at Scale – RPA and Digital Transformation

For large global enterprises with thousands of employees spread across business units and geographies, standardized processes become crucial. Yet inconsistencies often arise due to manual tasks prone to human error and local compliance differences.

RPA robots eliminate these risks by completing rules-based activities with unerring precision 24/7, ensuring compliance is never compromised. Automation further streamlines approval flows, data collection, reporting, and more – all while freeing up human capital for higher-value tasks.

Citibank, a pioneer in the technology, deployed dozens of bots to standardize foreign exchange operations for its large multi-national clientele. By eliminating variability and accelerating key processes through centralized command of dispersed activities, it dramatically improved both deal execution and the client experience. Travel company Expedia similarly standardized how hotel bookings are handled globally via RPA.

Enhancing Customer Experiences with Robotic Process Automation

As customers demand faster, more personalized service across channels, the pressure is on businesses to transform legacy systems into agile digital backbones, RPA and digital transformation being one of those. This requires optimizing mundane yet customer-facing tasks as well.

Swedish insurance major Folksam programmed bots to directly respond to basic customer queries around billing, payments, and claims via interactive chatbots. This freed up staff to focus on complex cases while allowing round-the-clock self-service access for policyholders.

Telecom leader Telefónica implemented intelligent automation to consolidate customer profile data previously siloed across core systems. Not only did bots build a centralized 360-degree view, but they also streamlined processes like product bundling and ensuring consistent communication. As a result, average query resolution times shrank by 50% – greatly enhancing the customer experience.

Robotic Process Automation – Unlocking Hidden Potential

Perhaps RPA’s biggest impact is unlocking trapped productivity in processes few considered automating before. Examples abound of back-office silos achieving 4-5x capacity gains through optimizing formerly manual workflows like invoice processing, contract management, and more.

At Dutch multinational DSM, bots took over time-consuming extract-transform-load tasks for an SAP migration project that consolidated multiple legacy systems. This freed up 20% of the former data migration team to focus on value-adding activities.

Meanwhile, pharmaceutical giant GlaxoSmithKline automated invoice validation and multi-level approval steps involved in vendor payments. This reduced average cycle times by a staggering 75% while improving controls and auditing capabilities. Such transformation has far-reaching impacts.

As these examples show, RPA digital transformation can lift bottlenecks across functions like procurement, finance, HR, and more. Process discovery tools help organizations methodically map all routine activities for their automation potential. Combined with change management strategies, this readies workforces for new high-skill roles and business outcomes.

Partnering for Success – Automation and Digital Transformation

To maximize benefits, it’s wise to partner with an experienced RPA services company. Leading providers bring domain expertise via multi-industry solutions and accelerators, as well as proven methodologies for change management.

Their specialized skills help develop bots rapidly without diverting scarce internal resources or inadvertently compromising security. Managed services models also ease the transition and ongoing oversight post-deployment. This frees clients to focus on strategic objectives.

As the technology matures, “attended” and “unattended” bots will integrate tighter with AI, machine learning, and cloud platforms. This generates new possibilities for highly automated intelligent workflows orchestrated across diverse systems. For now, it’s clear that by wisely selecting the right process automation partner, any organization can supercharge operations. Are you ready to start your journey?

Parting Note – Robotic Process Automation

In conclusion, Robotic Process Automation (RPA) has unlocked a world of possibilities for driving operational excellence across industries. Early adopter results show unprecedented gains in speed, accuracy, and cost-efficiency that exceed early estimates.

This is spurring exponentially greater global spending as more hidden workflows are uncovered. Combined with complementary technologies, automation is redefining what’s possible and readying enterprises for the future. The time to explore this opportunity is now.

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