Top 10 robotic process automation
benefits, adoption barriers & trends

Top 10 robotic process automation benefits, adoption barriers & trends

July 11, 2024

The state of the robotic process automation market

The robotic process automation (RPA) market has been growing steadily over the past few years. This trend will continue in the next ten years, as highlighted by market research.

expected value of the robotic process automation market in 2033

Robotic Process Automation Market Outlook (2023 to 2033), Fact.MR

average investment in intelligent automation among companies

Automation Now & Next 2023, Automation Anywhere

Top 10 RPA benefits

RPA implementation can bring businesses a competitive advantage and significant financial gains. Let's delve into the top capabilities unlocked by RPA adoption.

Reduced costs

The need to lower operational costs is one of the main driving factors of RPA adoption. By implementing RPA, companies can cut process execution time dramatically and reduce employee work hours spent on clerical tasks, which can lead to significant cost savings.

According to Bain’s 2023 report Automation’s Ultimate Goal: The Augmented Workforce, augmenting the human workforce with automation capabilities can reduce costs across industries by as much as 30%.

Increased productivity

A significant increase in productivity is one of the main business benefits companies aim for when investing in robotic process automation solutions. 78% of respondents of the 2023 Automation Now & Next survey by Automation Anywhere consider productivity gains to be a desired benefit of RPA adoption.

Practical achievements of RPA adoption for employee productivity are widely presented in numerous case studies by UiPath, our partner and leader in RPA implementation. By automating repetitive and mundane tasks, RPA enables human workers to focus on higher-value duties instead of routine activities that do not contribute to the company’s profit.

For example, an insurance company Hiscox managed to reduce request processing time for entering the queue in UK broker services by 300% due to AI-powered RPA software. The next successful RPA deployment helped the company automate customer email processing and save nearly 480 working hours in just the first two months.

Improved accuracy

Typical clerical activities, such as data entry and extraction, can be repetitive and error-prone when performed manually. RPA bots, on the other hand, are accurate and tireless, able to handle the same task thousands of times with the same efficiency.

An example of RPA bots' precision, particularly useful in back-office processes such as accounting, can be found in the automation of P&L financial reporting. RPA bots can compile P&L financial reports automatically by extracting and merging data from multiple individual reports according to predefined rules, thereby mitigating errors that would arise during manual report compilation. Before sending a compiled report to the front office for review, an AI-powered bot can also validate the report against a company’s data quality standards, which can additionally enhance reporting accuracy.

Better compliance

A significant consequence of bots' superior accuracy over human employees is the improved capability to handle audit and regulatory compliance, especially regarding data management and adherence to fiscal legislation. This can be the most valuable RPA benefit for the insurance, financial services providers, and banking companies.

For example, the use of RPA in finance and accounting minimizes the risk of errors in tax reporting, invoicing, and payments, which could result in fines or even lawsuits from customers and public authorities. At the same time, RPA systems in logistics help harmonize procedures and documentation and thus streamline eSourcing.

Customer satisfaction

Streamlining business workflows with robotic process automation tools can help a company enhance customer satisfaction. By delegating time-consuming and manual tasks to robots, employees can devote more attention to customer care and human relations.  Moreover, RPA bots can themselves provide timely support to customers while avoiding potential errors and delays that could compromise their experience. 

As reported by UiPath in their case study, a Spanish subsidiary of the telecom provider Orange deployed an ecosystem of 31 software bots to establish efficient 24/7 customer service. When Orange Spain's call center receives a message about a technical incident that needs to be resolved, the system initiates diagnostics, testing, and document generation, with each of these tasks managed and automated by robots. Thus, RPA helps the company provide faster customer service, enhance customer satisfaction, and reduce operating costs.

Enhanced data security

RPA tools reduce human involvement in some tasks, thus lowering the risk of human errors. The reduction of manual data processing and human interactions, in general, can prevent fraud and other illegal actions.

RPA bots complemented with AI can also help a company automate the detection and tracking of fraudulent activities. For example, RPA bots can check financial transactions for potential fraud and flag those of high risk. Depending on its configuration, a bot can block suspicious transactions, report the fraud to an appropriate department, or initiate and launch a fraud investigation process.

More informed decision-making

The availability of accurate and consistent data is key for making intelligent business decisions at different business levels. The adoption of RPA bots, with their ability to enhance data quality in the organization, helps managers and company leaders make smart decisions quicker, leading to enhanced business performance and product and service improvement.

Low technical barrier & easy integration

RPA bots don't usually need complicated configurations. A duly implemented robotic automaton solution is straightforward and user-friendly and doesn’t require a lengthy employee education and training period before use.

Besides, RPA bots can seamlessly integrate into the organization’s existing digital environment and connect even to legacy IT systems via their user interfaces. Therefore, the RPA technology can bring significant business value with no big changes typical to corporate digital transformation initiatives.

Improved employee morale & retention

RPA can automate daily business operations and tedious tasks that previously made many workers feel exhausted, causing burnout. The allocation of repetitive tasks to RPA also enables human workers to hone their cognitive skills, including strategy, problem-solving, and creativity, which can improve employee satisfaction and loyalty.

58% of respondents to UiPath’s Automation Generation Report 2023 believe automation can address employee burnout and improve their job fulfillment. 57% say they view employers that use AI-powered automation for modernizing operations and supporting employees more favorably than those that don’t.

Accelerated digital transformation

Robotic process automation solutions, either rule-based robots or intelligent process automation (IPA) systems where RPA bots are enhanced with AI (read more about IPA vs. RPA), are a potential first step towards corporate digitalization. This technology has facilitated digital transformation in numerous companies and in most cases hasn’t required significant initial investment. After all, RPA robots are highly scalable and interact easily with legacy systems on the front-end side without altering or replacing previous settings. 

According to SSON Digital’s 2023 Global Market Report, organizations are investing in RPA adoption at a higher rate compared to AI and ML, with one of the reasons being the delivery of more immediate business results.

RPA + AI in action

You can check the demo case prepared by Itransition’s team to see how an RPA bot integrated with an OpenAI model extracts relevant data from documents in different formats.

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Successful RPA implementation examples

RPA for medicine registration

RPA for medicine registration

Itransition helped an international pharmaceutical business automate medicine dossier verification against the structure and content regulations of healthcare authorities.

of work hours saved monthly

Product inputDossier due dikigenceResults validationStore dossier in electronic DMSHA QueriesNotify stakeholdersSubmit dossier for HA approval

Scheme title: Medicine registration with RPA

RPA for stakeholder digest updates

RPA for stakeholder digest updates

Our RPA solution enabled a global pharmaceutical company to automate reporting information updates to stakeholders when registering new medicines.

assistant effort reduction

Health authorities communicationsStakeholders’ notification

Scheme title: Stakeholder digest generation with RPA

RPA bot for HRM system

Itransition developed an RPA bot that helps to automate human resources management processes. The solution’s implementation resulted in 4x faster candidate processing with 0% errors.

less human interaction

Video title: RPA for talent acquisition: automated CV processing

RPA for a logistics company

We applied RPA to facilitate data transfer, brief checks, and CRM notes automation for a logistics company offering worldwide shipping solutions to 5,000+ clients from 20 industries.

business process automation

Robot
Receives BI export via email
Goes to network folder
Gets CMR notes
Picks out numbers from CMR files’ names
Matches numbers with order numbers in AsstrA’s file
Goes to end client’s system
Searches order by number
Finds order
Doesn’t find order
Attaches CMR note to order
Notifes AsstrA’s employees of exception

Scheme title: RPA process steps

Barriers to RPA automation

Organizations adopting RPA solutions can face significant challenges holding back process transformation. Here are some practical steps companies can take to overcome them.

Barrier

Solution

Cybersecurity

RPA bots handle loads of sensitive data and transfer it across systems, which can potentially put data security at risk.

Cybersecurity

RPA bots handle loads of sensitive data and transfer it across systems, which can potentially put data security at risk.

Equip robotic process automation software with data encryption mechanisms

Monitor each bot’s activity to detect vulnerabilities and anomalies in their behavior

Clear vision

Getting stakeholders’ buy-in can be difficult since RPA adoption can require significant resources and investments.

Clear vision

Getting stakeholders’ buy-in can be difficult since RPA adoption can require significant resources and investments.

Persuade stakeholders by quantifying all the automation opportunities

Work with C-suite to develop a clear vision and strategy and build a detailed automation roadmap

IT readiness

Lack of IT readiness to adopt RPA technology reduces the chances for a successful and cost-effective implementation.

IT readiness

Lack of IT readiness to adopt RPA technology reduces the chances for a successful and cost-effective implementation.

Instruct the IT team to review a company’s tech stack (enterprise software and customer-facing solutions, databases, etc.) and determine if it can support RPA deployment

Develop RPA proof of concept to evaluate the technology’s feasibility and the organization's readiness for RPA

Resistance to change

Employees don’t always support RPA automation, which can slow down the technology’s adoption.

Resistance to change

Employees don’t always support RPA automation, which can slow down the technology’s adoption.

Communicate the changes and arrange training for all the affected employees

Establish a user support team to resolve issues they face with the new technology more efficiently

Accelerate your digital transformation with an effective RPA solution

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RPA automation works: make it work for you

Almost all the organizations that tapped into process automation consider RPA a key component of their strategy. The technology has proved its viability in various economic sectors, highlighting the need for further scale, development, and transformation efforts. If you’re looking to tap into the benefits of robotic process automation, you’ll need the assistance of a professional RPA and intelligent automation partner. Itransition is ready to step up and implement an RPA solution suitable to your most deliberate business needs and objectives.

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