Automating business lines means more than replacing the human force with machines that perform all the tedious tasks. Because it is a trend itself, workflow automation needs an overall change, from idea to result.
All workflow automation systems such as Robotic Process Automation (RPA), AI, ML bring substantial savings to businesses, but the profits appear when a new business model emerges – one oriented towards innovation. The most convenient workflow automation tool is RPA – software robots that can learn and reproduce human gestures needed to perform repetitive tasks. According to Gartner, just in finance, RPA can save 25,000 hours of avoidable rework from human errors, at a cost savings of $ 878,000.
Robotic Process Automation beyond money
A Deloitte Global RPA Survey reveals that RPA matches the reality with expectations. Those who have implemented RPA seem to have had such a positive experience that their expectations tend to rise. They consider that software robots could produce 52% of FTE (full-time equivalent) capacity. This fact can allow the human resource to get involved in higher value-adding projects.
As we said earlier, the benefits of RPA are not just financial. We also find out from Deloitte Global RPA Survey that 85% of respondents state that RPA met or exceeded their expectations for non-financial advantages such as efficiency, timeliness, adaptability.
In the top of the benefits provided by RPA are also found:
• Optimize internal business processes
• Automate tasks, allowing employees to be more creative
• Improve products and services
• Make better business decisions
• Optimize external processes
• Develop new products
• Pursue new markets
• Capture and apply the information that is hard to accomplish
• Implement automation to reduce headcount
The rise of RPA in the Covid-19 pandemic
The Covid-19 pandemic and subsequent collapse raised interest in RPA for many businesses. Despite all the negative effects of Covid-19, it was a favourable stage for workflow automation. Many companies have grown by adopting large-scale RPA, a fact that will bring significant long-term benefits. Although many adopted RPA during the pandemic only to get over this period more easily, managers are becoming increasingly aware of the financial and non-financial advantages they will have in the years to come.
Gartner foretells that 90% of big companies globally will have implemented RPA in some area by 2022 as they tend to digitally empower significant business processes through flexibility and scalability while redeploying human labor and manual work.
Automate as much as possible
Apparently fast and without realizing it, workflow automation is increasingly present in the business environment. According to McKinsey, 31% of businesses have automated at least one process. And just as fast, the RPA is expected to grow to $ 2.9 billion in 2021. These high numbers and percentages demonstrate once again the potential of RPA and its power to improve a business.
It is certain is that most businesses have a high growth potential, which, however, they cannot capitalize on. And this happens for various reasons: the limited human work capacity, the errors that occur along the way, the lack of staff and the challenge of finding new employees, complex training and so on. For all these, RPA is the perfect solution. It can operate non-stop, not being limited by any break or vacation and speed is considerably higher. Also, software robots do not need training because they are directly programmed to do what your business needs.
The adoption of RPA in all industries and sectors is expected to grow in the following years. We are approaching the stage in which RPA will be a universal trend, present in most companies. Because the results are very promising, also the goals rise to a higher level.
But until these great, realistic goals are reached, every business should consider automating certain areas, such as operations, customer service, supply chain, finance and many others.
FastPath Automation is the perfect workflow automation partner
FastPath Automation is a UiPath RPA partner, which stands out for the quality of its services. Each software robot is meant to be your best buddy at work, helping you to achieve a large volume of work as quickly as possible.
Why is it perfect for your business?
Our software robots are specially developed to meet the needs of your business. You will not have to work on it. Moreover, RPA adapts to existing equipment, so you will not have to invest in other compatible technologies. All you have to do is tell us what you need, and our team of professionals will deliver the perfect solution as soon as possible!
Contact us for more information!