Automation bots are quickly replacing manual repetitive task and increasing accuracy and overall quality of organizations processes. There are various parameters on which we can compare them(with manual). Few of them are listed below
Myth-Industry is quickly moving towards implementing RPA because of above-compared benefits however there are several myths associated with RPA, some of them are-
1- 100% Processes can be replaced by bots– No it is not possible to completely replace manual processes. During analysis phase, one needs to identify that which all are automation candidate.There can be processes which are not good candidate like-
a- Multiple application involved in processing a transaction flow
b- Process which is executed once in a while, like once in a month. There is no need to put effort to replace it with bots as creating bots will be more expensive and ROI will take longer time. Such processes can be planned at the later stage.
2- Huge cost saving in initial phase– Every process replacement with bots has some analysis and there needs to be ROI analysis associated with it. Once bots start working as a replacement It starts saving cost but that cost will get obreak-even once effort given in its creation is compensated.
3- It will kill jobs and replace humans-100 % replacement of manual activities with bots Replacing humans is not at all possible. A manual effort will always be an essential part in every organization no matter how smart automation one creates. Unlike reducing/killing of jobs, there will be more opportunities and more learning.
According to a PwC Global Operations Survey, RPA is delivering benefits quickly, and at the same time, ROIs of up-to 800% are common. RPA does have initial costs, but it provides cost reduction through bots and consequently impacts RoI and hence companies are quickly adapting RPA.
The future of RPA is brilliant Automation with smart algorithms and machine learning. RPA is in evolving phase and we can see a more advanced solution in coming time in which bots can handle real world time problem with its inbuilt algorithm, the Intelligent Automation of the future will be capable of applying decision making on its own.