RPAaaS (Robotic Process Automation as a Service) uses automation, machine learning (ML), and computer vision to assist clients with high-volume, repetitive tasks. Frequently, these tasks are triggered and governed by rules. The RPAaaS software handles all automation tasks, requiring little involvement from the clients.
RPAaaS, also known as Robots-as-a-Service (RaaS), offers technical and cost flexibility that RPA did not. To scale their operations, most businesses use RPA-as-a-service. They can increase their revenue without increasing their costs proportionally.
The Advantages of RPA-as-a-Service
Robotic process automation (RPA) is beneficial and has numerous advantages. Many organizations are now considering RPA-as-a-service as a more cost-effective alternative to RPA because it does not require hardware purchase.
Some of the significant benefits of RPAaas are:
- Short Time to Deployment
- Access to RPA Capability
- No Technology Lock-In
- Access to an Extensive Knowledge Base
- And Cost Savings
There are certain business functions that apply to all businesses, regardless of their industry or size. An RPA-as-a-service can be used to automate universal processes across teams and industries, including Customer service, Human resources, Payroll, Finance & Accounting, IT management, Supply chain management and many more.
Key RPAaaS Trends Of 2021
Robotic Process Automation is undoubtedly one of the trending technologies of 2021. some of the significant trends of RPA-as-a-service in 2021 are as follows:
1. RPAaaS Is The Most Convenient Tool For Businesses
RPAaaS is a cloud-based service. In contrast to on-premise platforms, it is flexible, scalable, and transition-free. RPAaaS emerges as a high-impact and simple solution for businesses looking to benefit from RPA capabilities at minimal costs, with a shorter time to deployment and no technology lock-ins.
As a result, many businesses are considering RPAaaS as a viable option, as it does not require the same level of hardware investment as RPA. However, depending on their vendor relationships, not all MSPs will be able to pass on the savings on bot licences to their clients. Many organizations will continue to adopt RPAaaS with the help of their MSPs rather than implementing it in-house in the near future.
2. New Pricing Models Are Being Developed
Companies couldn't predict how many bot licences they required in the beginning. As a result, they typically purchased more, and some even purchased one licence for each automated process. These bots aren't being used because they're not being tracked.
Every bot has a licence cost, and the ones that aren't used will result in unnecessary spending. This can be avoided with an excellent RPAaaS solution. It also encourages RPAaaS providers to develop different pricing models, such as subscription-based pricing, to cater to the varying appetites of businesses in various industries. Furthermore, it enables those businesses to stop pondering and begin implementing RPA with small projects.
3. Proliferation Of RPAaas
The ongoing COVID-19 crisis is one of the main reasons for increased cloud usage and adoption, but it will not be the only reason in the future. The two ends of the RPA deployment spectrum are on-premise RPA and RPAaaS. Compared to on-premise RPA, RPAaaS is a more cost-effective, easy-to-deploy solution with a faster return on investment. Its application is no longer limited to large corporations; even small businesses are using it to solve operational problems.
Furthermore, as more organizations adopt SaaS, many MSPs plan or have already launched RPAaaS models. We will see more businesses leveraging RPAaaS in the future; given the value, it has already established no development and deployment costs. Only a small number of employees are required to manage it.
4. Accessibility Of RPA Capability
Despite the lack of RPA systems, many RPAaaS platforms allow businesses to benefit from this technology. They can continue doing business as usual because their provider will invest in this technology and maintain it. As a result, clients can benefit from RPA capabilities at a low cost. Risks, disaster recovery, data privacy, and enterprise-grade security are all responsibilities of the MSP.
RPAaaS also helps IT departments save time and money when migrating to the cloud from legacy systems like SAP and Oracle and processes. They can quickly automate processes that rely on these legacy systems by deploying RPAaaS. Even among the most conservative players, the RPAaaS model will see increased adoption due to the seamless automation experience it provides.
RPA-as-a- service (RPAaas) has become the mainstream in the RPA market. It enables businesses to work smarter and standardize processes across divisions, all while transforming workflows and processes that significantly impact the core aspects of the company, such as productivity, efficiency, and cost.
To take advantage of these trends and remain competitive through 2021 and beyond, MSPs must plan ahead to add advanced technology capabilities to their existing operating models.