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5 Facts about Robot Process Automation (RPA)

When you picture your finance team, you may not envision robots as being part of it, but the reality is that this is a very distinct possibility in todayu2019s increasingly digital world. Robot process automation (RPA) allows you to provide precise financial forecasts and personalized services via automating certain functions.<br><br>If you think RPA may be a passing fad, think again. The RPA market is projected to hit $2.5 billion this year, and grow at a compound annualized growth rate of 70 to 85 percent, according to research from the Everest Group.<br><br>To get a handle on what RPA can do for your company and what it entails, check out the following guide.

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5 Facts about Robot Process Automation (RPA)

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  1. 4 FACTS ABOUT ROBOT PROCESS AUTOMATION (RPA)

  2. If you think RPA may be a passing fad, think again. The RPA market is projected to hit $2.5 billion this year, and grow at a compound annualized growth rate of 70 to 85 percent, according to research from the Everest Group.

  3. 1. SOFTWARE REPLACES HUMANS ON REPETITIVE TASKS • According to a Gartner survey, organizations are expected to lower operational costs by 30 percent within the next four years, thanks to the use of RPA. • A separate McKinsey study found that companies adopting RPA enjoyed a return on investment of between 30 and 200 percent in the first year.

  4. 2. RPA WELCOMED BY MANY STAFF MEMBERS One reason that some companies don’t bring on RPA is because they believe employees will be disappointed that some of their tasks are being replaced, but the reality is that RPA takes over many of the responsibilities that those employees disliked to begin with.

  5. The decision of whether to implement RPA, and how it will be managed once you do, is something that should be discussed across teams at your organization. It will require the input of engineers, the finance team, the employees affected, and the HR staff, among others. 3. INVOLVE THE WHOLE TEAM

  6. If you’re wondering how you can bring robotic software into your office to get started with RPA, you aren’t alone. But you don’t necessarily have to invest in RPA technology to see its vast benefits. Instead, you can outsource your financial services to gain access to RPA systems that can help you transform your financial programs from manual processes to automated ones. 4. CONSIDER OUTSOURCING

  7. visit escalon.servicesfor more information.

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