As the world progresses towards the ever changing future full of innovative ways of operations, it is inevitable that industries will have to depend upon Intelligent Process Automation to enhance consumer experience and to achieve a streamlined business.
Information Service Group (ISG) mentions that 9 out of 10 companies in the world are striving to implement RPA by 2020 to make their operations more efficient and improve results.
This output is of a survey conducted by Automation Anywhere and ISG with 500 business heads across the globe and the study reveals that industries are maximizing their efforts to adapt these Business Process Automation technologies which will run in full swing by 2020.
The most unique part of the study is that at this moment less than 10 percent of the industries have begun their automation journey and accordingly the budgets allocated for this new journey has been increased to by average of 9 percent.
Functions which will enjoy the maximum impact start with Order Processing and Customer Service (43%) while Finance, Audit, Treasury, Logistics, Supply Chain, Sales and Marketing functions are immediately in the follow up.
The adoption is gradual where almost 75% industries have started up with proof of concepts or have automated at least 10 business processes so far.
User and Concerns
Taking an example of statistics derived from Europe, the front runner in this league of adoption of RPA has been Germany where 60% adoption will be completed by 202 compared to 32% currently. France is the next in line where stats will be up by 50% versus 22% now and eventually UK with a rise to 46%.
However, industries should always be careful while planning the overall strategy of this journey to avoid falling into a trap. It needs to be considered an initiative which is highly strategic for the business and objectives need to be defined along with measures. Ignorance towards this important step can lead to burning of hands and waste of resources.
Apart from this there are other concerns like Security Policies which creates barriers in scalability of the technology. Also some organizations are that pro towards adopting change and hence budgets are also not allocated considerably towards this initiative. Most places commitment from IT and Executives become an issue as they feel threatened by this new move.
Automation is the future and its inevitable. It is considered to be the 4th Industrial Revolution in the world. The key is to understand this innovation and plan your path by strategizing your specific requirement. It’s the start of an era and there will be something for everyone if the understanding of the foundation is clear.