RPA or Robotic Process Automation emulates human activity when interacting with digital software. It automates tedious and mundane business processes. Artificial Intelligence (AI) when integrated with RPA increases business value. AI can directly be used in bots to execute tasks without human intervention. This results in better efficiency, and improved customer and employee experiences.
RPA software revenue is growing rapidly despite economic disruptions caused by the COVID-19 pandemic and is projected to reach $1.89 billion in 2021 with double-digit rates through 2024.
Automating processes with RPA seems like a great solution in theory, but in practice, this isn’t the case. RPA has been successful for some but disappointing for others. While many organizations are relatively happy with their automation investment, most haven’t fully realized the ROI promised by RPA software vendors. For this reason, clients need to carefully evaluate the various RPA vendors before making this strategic investment.
Read this Cabot Partners paper for more details.
