What is RPA?
Robotic Process Automation consists of 3 major components:
- Robotic – An entity which is capable of being programmed by a computer for doing complex tasks is known as a Robot. In terms of RPA, this task would be to mimic human actions.
- Process – A process is a sequence of actions/activities or steps/tasks taken in order to achieve a particular end.
- Automation – When a task/an activity happens automatically, i.e. without human intervention.
Hence, RPA is the process of automating tasks or workflows that don’t require inference or insight, eliminating simpler types of tasks from humans. These tasks are usually the responsibilities that can be performed through business rules or codified logic and are usually represented as scripts or “bots.” Any task that can be automated with business logic or a programming language can be considered an application of RPA.
Benefits of RPA-
Applications of RPA-
- Process Automation- Process automation consists of various tasks in finance, procurement, supply chain management, accounting, customer service and human resources, including data entry, purchase order issuing, creation of online access credentials and various other business processes.
- Reconciliation
- Data Extraction
- Data Management
- Virtual System Integration
- Gap Solutions
- Quality Assurance
- Revenue Forecasting
- Data Migration
RPA Tools available-
- Another Monday
- UiPath
- Automation Anywhere
- Blue Prism
- Wokrfusion
- Jacada
- Kyron
- Redwood
- Automation Edge
- Etc
Future of RPA
1. Artificial Intelligence (AI)
While Artificial Intelligence is different from RPA, the both can’t be separated. It is believed that the next transitional phase to RPA will be AI. The next stage of RPA will move beyond rule-based technology and start to include AI aspects.
3. SPA (Smart Process Automation)
SPA or Smart Process Automation is believed to be an extension of RPA. The purpose of SPA is to automate the unstructured data work that robotics is incapable of managing all by itself. SPA uses Machine Learning that is an alternative to scripting the if/then rules. There’s a combination of machine learning, big data, AI and cloud that is used to improve processes and create models and refine models.
4. Integration with other tools
RPA when integrated with human workforce and tools will make a complete and evolved workforce.
5. RPA 2.0
The next big change of RPA will see more of AI, Digital Employees, Total Workforce, and Digital Transformation. The digital workforce encompasses digitally empowered employees who can contribute to innovation, creativity and collaboration. The digital workplace can breakdown communication barriers and promote productivity, efficiency and innovation.