The need to lower operational costs is one of the main driving factors for the RPA market. Robotic process automation technology has already proven the ability to cut the cost of a full-time offshore employee by half, according to ResearchAndMarkets. In addition, it has created a shift from labor arbitrage to lower labor costs from 25 to 40% in IT environments and other business processes. The study also highlighted that an RPA bot could substitute two to five employees and take up their workload, improving operational efficiency and reducing costs.
For example, Gartner estimates that the average amount of rework caused by human mistakes in accounting departments can take up to 30% of employees' overall working time. By deploying bots with a zero-error rate, it's possible to save 25,000 hours per year, which results in an $878,000 cost cut for a company with 40 full-time accountants.