Enterprises of today are challenged with the technological shift in the areas of business. To help businesses meet challenges, organisations are adopting technology and automation solutions to enable best-in-class Business Process Outsourcing. One technology which is gaining rapid favour is Robotic Process Automation (RPA), an automation which can handle day-to-day recurring jobs without human intervention.
India is in prime position to become a Robotic Process Automation (RPA) powerhouse because of its growing talent pool and cost advantage. It is estimated that around 2 lakh RPA-led jobs will be created in the country by 2021. RPA has been gaining traction as a way of automating repetitive, tedious tasks to handle higher-value analysis and decision-making.
NASSCOM has released a report on trends in Robotics Process Automation. The report points out some key advantages and challenges in the implementation of RPA.
- Cost Reduction – can yield cost reduction of 35%-60% in onshore processes and 10%-30% savings in offshore delivery.
- Better Service Delivery – can enhance process quality, speed, governance, security and continuity.
- Short time to investment recovery – investments in RPA processes recover in less than a year.
- Non-invasive nature – does not require large scale IT infrastructure.
- Control – Easy to handle rule-based processes.
- Resistance from client’s IT team.
- Hidden costs such as maintenance and hosting.
- Lacks market acceptance as a stand-alone investment.
UiPath, a robotic automation process company predicts that nearly 2 lakh jobs in India will be created by 2021. RPA provides new pathways for job opportunities. These could range from process engineers and robot managers to implementation and infrastructure staff and complex management positions. The scope is limitless.
The company will be a part of this job-creation journey not only by providing best-in-class technical support, but also by way of knowledge sharing through the UiPath Academy. Two self-led MOOCs are being delivered free of charge through the academy, allowing people to train as RPA Developers at beginner and advanced levels.
It is important for all IT companies to evolve as the market changes. RPA is a game-changing technology that facilitates this change. However, RPA product companies need to integrate cognitive solutions to harness the true power of the technology.
– Chaitanya Kulkarni