02.06.2023 Executive Data Bytes – What can robots do for your business? - RPA Business Use Cases

Executive Data Bytes

Tech analysis for the busy executive.

Welcome to another edition of Executive Data Bytes! This week, we are discussing the ways that Robotic Process Automation (RPA) can change and enhance the way your business operates.

Focus piece: “What is RPA? A revolution in business process automation”

Executive Summary

Robotic process automation is an application of technology that automates business processes by capturing and interpreting applications, manipulating data, triggering responses, and communicating with other digital systems. This CIO article explains everything you need to know about RPA.

Key Takeaways

• RPA provides organizations with the ability to reduce staffing costs and human error by using robots to handle tasks that get in the way. Bots are typically low-cost and easy to implement, requiring no custom software or deep systems integration.
• Enterprises can use RPA with cognitive technologies to automate higher-order tasks, creating a value chain known as intelligent automation.
• COOs were some of the earliest adopters of RPA, but often had to ask IT for help. Now, citizen developers are using cloud software to implement RPA.
• The RPA software market is expected to grow from $2.4 billion in 2021 to $6.5 billion by 2025, according to Forrester research.

Focus piece: “RPA Benefits: 20 Ways Bots Improve Businesses in 2023”

Executive Summary

RPA has achieved remarkable growth in the past years because of its significant capabilities in automating important business tasks, as well as its ease of implementation. This AI Multiple article explores the top 20 benefits of RPA.

Key Takeaways

• RPA projects are low-risk, non-invasive, and can be implemented quickly. They reduce operational risks by reducing the risk of manual errors.
• Deloitte estimates that 20% of full-time employees could be replaced by bots, and those who have implemented RPA claim that 52% can be replaced.
• Human errors and low-quality data are estimated to cost businesses billions of dollars each year. Leveraging RPA can provide better-quality data.
• Companies can use RPA bots to automate their change management process. The bots read, evaluate, and provide a preliminary assessment of the urgency of the issue.

Focus piece: “12 Popular Benefits of RPA in Business” 

Executive Summary

Despite the positive impact of Robotic Process Automation on business, many entrepreneurs are still apprehensive about this technology. This article from Maruti Techlabs aims to show you why implementing RPA in business is definitely worth your dime.

Key Takeaways

• Robotic Process Automation (RPA) software can perform as many tasks as 2-5 full-time employees can achieve manually. It can complete more volume of work in less time.
• RPA bots are designed to perform specific tasks, so there is no risk of data leaking from one facet to another. The impact of RPA on business is often misunderstood, but it actually creates more jobs than it takes away.
• When your business expands, so do your responsibilities. RPA can help you adjust any routine tasks that your business expansion necessitates, giving smaller businesses a level playing field.
• RPA implementation is easier than you think. Implementing RPA does not require API setup and also requires little technical expertise. This, in turn, saves huge costs and time for businesses.

Ready for robots to do the work?

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