In today’s technological stack for digital transformation, process automation is essential. RPA (robotic process automation) is being embraced and implemented quickly. The pandemic’s effects on the economy won’t stop the RPA market from expanding at double-digit rates until 2024, claims Gartner. The future looks bright for RPA specialists.
The capacity of RPA solutions to increase productivity, speed, and process quality are some of the major drivers influencing RPA solution adoption. Additionally, COVID-19 and its aftermath have stoked interest in RPA across various industries. As many analysts have predicted, future RPA clients may come from non-IT buyers.
Why Does RPA Matters For Businesses?
Robotic Process Automation, where connection and data combine to streamline processes and cut costs, is the future of business process automation.
Businesses of all sizes in all industries are looking for fresh, creative ways to boost productivity and cut costs as the world enters the fourth industrial revolution. Long-standing wisdom suggests that repeatable, routine procedures should be automated at scale to achieve such goals. The ultimate objective of robotic process automation is this (RPA).
Organizations can automate defined, multi-step manual processes performed in large quantities with Robotic Process Automation (RPA) technology. RPA achieves this by building software robots, or RPA bots, that interact with already-existing application interfaces.
As a result, RPA is excellent at assisting businesses in automating existing processes and getting rid of mistakes while preserving legacy systems.
Top Robotic Process Automation Trends To Lookout For In 2022
The following are some of the critical RPA trends to watch out for in 2022 and beyond:
- Intelligent Automation
Cognitive bots are valuable members of your hybrid workforce because they continuously learn from data and make judgments. RPA and Artificial Intelligence are combined to create Intelligent Automation (IA), which enables end-to-end operations and accelerates digital projects. Businesses that combine RPA and AI can broaden business process automation’s potential to practically any circumstance.
For example, Consider Arteris, a Highway Management company with headquarters in Brazil that established a shared services facility using intelligent automation and analytics. This resulted in a labor reduction of up to 50% and a quicker month-end closing, which allowed the company to realize more significant economies of scale.
- Semantic Automation
In contrast to a rules-based method, semantic automation takes a different path. Bots can comprehend workflows, the data needed, and the components that need to be moved by using semantic automation. In this technique, robots copy activities or tasks they see and don’t receive explicit instructions.
Users or developers will only need to instruct robots to perform a task or procedure. RPA solutions are about to undergo a revolution that will make developers more productive and businesses more scalable.
- RPA CoE
A central group called the RPA Center of Excellence is in charge of implementing RPA within an organization. The RPA CoE may include functional experts from different teams, process managers, IT specialists, and RPA consultants. This CoE’s responsibility is to set up a governance structure, best practices, and knowledge to maximize Return On Investment.
The efficiency of the bot creation cycle can be improved, and RPA can be integrated with IT, both of which are advantages of establishing an RPA CoE. Additionally, it offers RPA service, support, and training.
- Low-Code Platforms
Users who design new business apps using runtime and development environments that have been approved by IT are known as citizen developers. They are “automating” more frequently and making it possible for companies to automate widely.
Low-code platforms approach development visibly and naturally. A new kind of no-code SaaS platform that facilitates the creation of practical RPA solutions more quickly is required for them to flourish. This can automate workflows, procedures from beginning to end, and tasks.
One of the main benefits is that an intuitive interface can be created with only a slight drag and drop, which developers from around the enterprise may use with ease.
- RPA Will Encourage Radical Innovation
The competition will be wiped out by some of the RPA early adopters and businesses with robust automation programs. In fact, according to a Forrester prediction, 5% of the Fortune 500 will use this level of automation to foster radical innovation. To achieve this state, however, businesses must develop a framework to plan, carry out, and manage a hybrid workforce.
- Broader Application And Use Case Beyond Finance And Accounting
Although the top use cases for RPA services continue to be in finance and accounting, other business applications are expected to adopt process enhancements more quickly. There will be an increase in RPA use cases across company activities and industries, from automating transactional sales operations to managing HR processes from beginning to end.
- RPA As a Service (RPAaaS) Will Become Mainstream
Organizations are choosing SaaS, ITaaS, PaaS, and other services, demonstrating the widespread acceptance and adoption of the “everything as a Service” concept.
Many automation system integrators will provide the RPA as a Service (RPAaaS) model, capitalizing on the enormous popularity and wide range of use cases of RPA. As seen in 2020, SaaS-using businesses were able to develop more quickly to survive the disruption without incurring additional expenses or efforts.
The worldwide Robotic Process Automation industry has experienced significant growth over the past two years. The year 2022 might be the year the RPA advances into newer terrains and gains new capabilities. With RPA at its core, automation will continue solidifying its position as a necessary enterprise technology.