What is Robotic Process Automation?- RPA Tools, Benefits, and Myths

  • Riya Kumari
  • Oct 26, 2020
  • Artificial Intelligence
What is Robotic Process Automation?- RPA Tools, Benefits, and Myths title banner

'RPA' this term may be unfamiliar to you but in some way, you are using it. We all want to perform less or effortless tasks in our daily lifestyle. If someone will perform your basic works like switching on the fans, making calculations, playing songs for you, and many such tasks, Won’t it be fascinating? 

 

RPA will amaze you as it permits associations to mechanize tasks simply like a person was doing them across applications and systems. Robotic Process Automation is one of the ever-growing parts of the ‘automation industry’. The motive behind RPA is to move the cycle execution from people to bots. Mechanical robotization collaborates with the current IT architecture with no complicated system integration needed.

 

This blog will make you familiar with the basics introduction of Robotic Process Automation or RPA Technology. You will get to know in detail about what is RPA, RPA tools, RPA benefits, RPA robots, RPA myths, how it works, future of RPA, and many more. Let's begin with the definition of Robotic Process Automation.


 

What is RPA?

 

Robotic Process Automation or RPA is the use of Artificial Intelligence (AI) and Machine Learning abilities to deal with high-volume, repeatable errands that earlier expected humans to perform. The fundamental objective of the RPA cycle is to supplant monotonous and exhausting cleric tasks performed by people, with a virtual labour force. 

 

Consequently, in simple words, Robotic Process Automation is the innovation that permits anybody today to arrange PC programming or a "robot" to copy and coordinate the activities of a human collaborating inside advanced frameworks to execute a business cycle. 

 

RPA robots use the UI to catch information and control applications simply like people do. They decipher, trigger reactions and speak with different frameworks to perform on an immense assortment of redundant undertakings. Just significantly better: an RPA programming robot never dozes and commits zero errors.

 

RPA robots are equipped for impersonating many–if not all–human client activities. They sign in to applications, move records and envelopes, reorder information, fill in structures, remove organized and semi-organized information from reports, scratch programs, and many more. ( Related blog: 7 uses of RPA in the Manufacturing Industry)


 

What are the Benefits of RPA?

 

As we all know that everything has pros and cons, so here we will discuss some benefits of RPA for your company.

 

  • Reduces cost- One of the significant benefits of RPA is cost reduction. If the robots will do the tasks then it will cost less than any full-time employee. It is found that by automating tasks any company will save up to thirty per cent of their costs. RPA is the one who takes care of repetitive work and helps in saving resources and time.

  • Reduced workload- RPA reduces the workload of the employee by doing automated work like calculating, report-making, and several such tasks. This will help employees a lot and they will be able to easily concentrate on more important work.

  • Improved business results- So, if employees will focus on more valuable work, it will definitely help the company in boosting up. Thus, RPA improves outcomes that can be automated.

  • Scalability- Have you ever heard that robots are getting tired? No! They don't, software robots never get tired. Organizations can easily scale up or down operations as wanted. Thus, robotic process automation assists in increased scalability.

  • Reduces operational risks- Some organizations like to re-appropriate busy work to outsider associations, and this comes with the danger of human blunders and failure. Robotic Process Automation offers a superior result as the work remains in-house and there is minor operational risk.

  • Quality and accuracy- Cycles with a high danger of human mistakes can be automated using the RPA system and these bots are predictable, reliable, and can work energetically.

  • Improved customer satisfaction- As we read about that RPA helps in scalability, reduces operational risk, accurate and enhances quality, so the customers will be delivered with quality content and they get satisfied.

 

Now, let’s have a look at some of the cons of Robotic Process Automation

 

  • Little changes made in the automation application will require the robots to be reconfigured.

  • The bot is restricted to the speed of the application.


 

Also, there are some features of Robotic Process Automation like debugging (the most powerful features of Robotic Process Automation), hosting and deployment (RPA bots can be installed on desktops and after that deployed on servers to enter information for duplicative works), security, simple creation of bots, rich analytical suite, and scriptless automation.

 

“The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency”- Bill Gate

 

What are the RPA Tools?

 

RPA tools are the software through which one can design errands that should be computerized. The choice of RPA Tool ought to be founded on the following 4 boundaries which are Data, Interoperability, Artificial Intelligence, and Type of Tasks mainly performed. 

  • Data- Easy reading and composing business information into various systems.

  • Interoperability- Tools should work over numerous applications.

  • Artificial intelligence- Built-in AI backing to copy human clients.

  • Kind of Tasks mainly performed- Ease of designing guidelines based or information based cycles.

 

Therefore, different tools in the market encourage RPA, however, which one do you believe is the best? That relies upon your necessities. Here you will find a list of generally used or famous tools that help to meet the goals of RPA. 

 

  • First is, a Blue prism which is an RPA software. It furnishes organizations and associations with a nimble advanced labour force. 

  • Second is, UiPath which is also an RPA software and it helps associations effectively mechanize company processes. 

  • Then Automation Anywhere which is a developer of RPA software. 

 

There are several more popular tools like Pega, Workfusion, OpenSpan, and Redwood. (Also read: Role of Artificial Intelligence in Healthcare)


 

Myths about RPA

 

Here are some myths that exist around Robotic Process Automation are as follows-

 

  1. RPA software does not need human oversight- This is completely wrong as without human supervision robots cannot perform their tasks. Humans are the ones who program the RPA bots, feed them their works of automation and supervise them.

  1. RPA software needs coding skills- There is an illusion that you need to learn coding skills for using RPA software. However, this is not correct as non-technical people also use it. They just need to understand about the font-end and then they can use it easily.

  1. RPA is valuable only in companies that depend heavily on software- Robotic Process Automation can be utilized to create computerized bills, telephone services, and so on which are used across enterprises irrespective of their software disclosure.

  1. RPA is for only huge companies- Several people are confused about the fact that only big industries can deploy or use RPA, but this is wrong. Thus, to automate the organization a small or middle-sized organization can use Robotic Process Automation or RPA.

  1. Robots will replace humans in the workforce- There is an illusion that robots will fully replace human beings from their workplace. But, this is not true as robots are not going to replace humans. Robots will just help humans by making their task simpler and easier. (Related article: Top 5 Myths about AI)

  1. Robots are 100% accurate- Yes! Robots are accurate but not always as it depends on how the robot developer programs them to be. This is because the RPA robots do not have any mental abilities themselves. They simply follow the instructions given by its developer.

  1. RPA is expensive- This is not true, the annual cost of robots is lower than the loaded wage of an FTE. RPA is unquestionably less expensive if you think about the other option — adopting the customary system coordination strategy where the absolute expenses and task span are so a lot higher.


 

What is the Future of RPA?

 

Future of Robotic Process Automation is very bright. In recent years several companies have found that their companies are growing because of the clever interaction between human resources and aiding software robots. 

 

There is a recent report by Grand View Research, Inc. and according to them, the global RPA market size is anticipated to achieve USD 10.7 billion by 2027, broadening at a CAGR of 33.6% from 2020 to 2027. 

 

According to Marketsandmarkets, by 2025, the market for collaborative robotics is predicted to attain $12 billion. Forrester expects that the RPA industry will rise from $250 million in 2016 to $2.9 billion in 2021.


This image is showing some future expectations of RPA.

Some future predictions of RPA


Hence, we can see how there is an expectation that Robotic Process Automation will reach a great level shortly. The RPA quick modification is benefiting the company to reduce the operational costs, improve transparency, and enhance overall customer satisfaction. So, we don't have to wait more, as very soon RPA will reach the most advanced level.


 

Conclusion

 

It's time to sum up the blog by saying that RPA is rising at an accelerated rate. We have seen in this blog how RPA works for an organization, numerous benefits, and some cons of Robotic Process Automation, some myths about RPA, future expectations of RPA, and many more. Hope so, your suspicions about the basics of Robotic Process Automation has been clear through this blog.

 

“Whatever you are studying right now, if you are not getting up to speed on deep learning, neural networks, etc., you lose. We are going through the process where the software will automate software, automation will automate automation”- Mark Cuban


Thus, in simple words, we can say that RPA is the technology that is used for software tools that automate human duties, which are manual, rule-based, or repetitive. RPA helps in doing the repetitive tasks that human beings don't want to do or get irritated while completing. There are some general uses of RPA which are it copies human activities, it accomplishes multiple duties, it can easily complete high-volume repeated duties, product management, and many more.

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