The Rise of Robotic Process Automation (RPA)
March 8, 2017
There’s a new buzzword around town. Well, a buzz phrase to be accurate. Robotic Process Automation has emerged as the hot topic across almost every industry. That’s because manual processes in workflows are causing highly–visible inefficiencies across the board.
Think about the workflows in your organization. How many require manual interaction by members of your team? How many require manually copying and pasting data between disparate systems? Do you have websites, portal systems, enterprise applications, or even desktop applications (think Excel) that silo information and don’t play nice together? You’re not alone. Here are some recent stats:
- 32% of transportation and logistics companies rely on manual steps in more than half of their processes1
- 50% of manufacturing companies still use manual processes for monitoring changes, exceptions, and disruptions to their supply chain and plan activity2
- 34% of financial services organizations rely on manual processes3
- The #1 efficiency challenge for insurance CFOs is manual processes4
- 47% of AP professionals in finance and accounting companies consider manual data entry and inefficient processes their biggest challenge5
No one is to blame for these inefficiencies. There are multiple reasons that give rise to them. Legacy systems don’t integrate with newer applications. External data sources lack the necessary APIs to integrate to internal systems. Core business processes don’t align with processes that are normally automated. And IT departments are already stretched thin with other priorities.
The truth remains, however, that manual tasks can cripple any organization resulting in less than stellar productivity, performance, compliance and revenue production.
Ah… Now we’re seeing why Robotic Process Automation is causing such buzz. RPA represents a cost-effective approach to automating repetitive, manual tasks that waste time throughout your workflows.
Using software robots and intelligent business rules, RPA streamlines tasks such as looking up and verifying information, and copying and pasting between those systems that don’t play so nice together.
If you’re one of the many that are exploring RPA this year, check out the playback of this quick 29-minute webinar titled “The Rise of Robotic Process Automation." We’ve put together a panel of software providers, systems integrators and companies implementing RPA to improve productivity, performance, compliance, and revenue generation.
Submitted by John Peters
Capture Sales Specialist, Genus Technologies
1 Eye forTransport
2 Edge Research
3 Kofax Software
4 Clearwater Analytics
5 Paystream Advisors