So, RPA (Robotic Procedure Automation) software marketplace was here for nearly a year. The amount of funds allocated is surely eye-catching. RPA Giant, UiPath declared a Series D financing for $568 Million, led by Coatue having a rating of $7 Billion.
In November, Automation Anywhere increased $290 million in Series B and Salesforce Ventures obtained a valuation for $6.8 Billion.
This sudden curiosity is a cause to stop and look at what’s making the money roll.
When you do so, you will get the reason pretty simple: Great ROI for customers.
So, what is great about RPA?
Robotic Process Automation is in the kind of software/tool which intends to fully automate the menial/repetitive jobs in the workspace(s).
This creates a lot of time for workers which then reflects in higher productivity and revenue; just put, employees can focus on more productive work rather than filing, recording, billing/invoicing and other menial tasks.
What more to expect from RPA in 2020?
RPA is a vast field. You name one thing, there’s scope to automate it. Working with such a flexible and efficient tool requires not only a healthy budget but also a vision to help maximize its potential.
Until now, only the fund industry has seen a huge usage of this technology, but that is going to change soon.
Organizations with an exploring mindset can maximize the possibility or ROI by opening multiple processes, workflows, cloud services and combining it with procedure automation for total growth.
RPA core technological progress in 2020
With fantastic funds plus a long-list of customers, RPA is defined to change the organizational dynamics by additionally enhancing and adding new functionalities in this software-based alternative.
Attended Automation: These are robots that were wired to provide employees with help as and when they need from a secondary device at another place. Additionally, the bots are programmed to perform all of the menial tasks which don’t require any abilities.
Procedure Mining: This helps to address complex problems by dividing it into small quantifiable actions. Streamlining this with RPA can make it more predictive, actionable and possess more precision in solving issues. Decision-makers have started to see value in exclusively-tailored RPA tools specific to their needs rather than stock software if the scope of expansion is large.
“RPA will be on the global stage. Extra-governmental organizations, like the United Nations and the World Economic Forum, will talk RPA from the context of jobs, salary, and global economies.”
Chief Evangelist at UiPath.