Please tell me, why are so many companies suddenly starting to use real RPA to carry out digital transformation?

The popularity of RPA (Robotic Process Automation) technology is no accident.

Whether it is in the field of "manual" work or in the field of "mental" work, inefficiency will eventually be replaced by high efficiency. Industrial robots have largely replaced the former. As global labor costs continue to increase, companies will be increasingly willing to apply RPA to replace or assist human labor.

According to HfS forecasts, the global market for RPA software and services is expected to grow at a compound annual growth rate of 36% by 2021. RPA, a software robot also known as "virtual employee", may see explosive growth in mainstream market applications in the future.

Why do so many companies implement RPA? The following 15 reasons may clear up this confusion.

Reason 1: Save labor costs

The cost of RPA "virtual employees" is one-third of the offshore full-time equivalent (FTE) annual load salary, and the onshore FTE annual load One-ninth of salary. For traditional companies that are labor-intensive, the labor saved by RPA is huge.

Reason 2: Increase workload

One minute of work done by an RPA software robot is equivalent to about 15 minutes of work by a person. In addition, RPA robots can also work 24/7, providing enterprises with important processing capabilities around the clock.

Reason 3: Reduce human errors

Research has found that on average, employees will make 10 errors in every 100 steps. RPA robots can help employees ensure that every operation or transaction is correct, with zero error rate.

Reason 4: Improve employee satisfaction and creativity

RPA completes mundane and trivial tasks on behalf of employees. Free up time to engage them in challenges and inspire employees to make a difference in a place where their value is better reflected.

Reason 5: Easy to use

Most enterprise RPA tools have functions such as visual design, drag-and-drop, click, and desktop recording. This makes RPA software easier to use than other information systems, even for non-IT users with limited or no programming knowledge.

Reason 6: Flexible expansion

RPA robot operations can be flexibly expanded upward or downward according to factors such as business cycles and business peak and peak periods. Unlike traditional workforce, RPA frees companies from strict employment and labor laws.

Reason 7: High Return on Investment (ROI)

According to Leslie Willcocks of McKinsey Digital, RPA’s ROI ranges from 30% to 200% in the first year alone. vary between %.

Reason 8: Short deployment time

RPA projects can be implemented quickly, usually in just a few days or weeks. Traditional system integration projects may take months or years to complete deployment.

Reason 9: No impact on existing IT systems

RPA does not require any changes to the underlying applications or current workflows. RPA's ability to "preserve the status quo" and automate existing processes is a huge draw for businesses tired of business process reengineering and the change management that comes with it.

Reason 10: Allows continuous improvement

RPA robots allow managers to continuously monitor them and track their performance, while generating large amounts of process data that can be used to further improve the performance of RPA robots .

Reason 11: Improve customer satisfaction rates

In this era of instant gratification, companies need faster execution and delivery. If this is difficult to achieve, customers will choose companies that can meet this requirement. RPA is often a key pillar for many companies to provide excellent customer experience, meeting the needs of companies to handle high volumes of customer inquiries.

Reason 12: Ensure compliance with regulations

The penalties for noncompliance can be prohibitive, leading many companies to turn to robot workers. Using RPA robots, you can ensure that it fully meets company requirements. It also facilitates managers to track and review RPA behavior.

Reason 13: Improved Governance

If implemented correctly, RPA can greatly improve the overall governance of an enterprise. By embedding requirements into automated rules, enterprises transform their operating models from labor-intensive to digital.

Reason 14: Increase the scope of data collection

RPA robots work with traditional systems to obtain data that previously required a lot of labor to extract. With the help of RPA, analysis teams can access more data and obtain more accurate analysis.

Reason 15: Reduce employee turnover

Over time, RPA will reduce the speed at which companies recruit employees. Due to increased efficiency, HR will manage a leaner, more effective, and more satisfied team.

According to a survey report by ISG, by 2020, more than 80% of companies around the world will adopt RPA to save labor costs and improve operational efficiency. The deployment of RPA by enterprises will be an irreversible trend.