60% of key business decision-makers believe RPA can help employees focus on more meaningful, strategic tasks - Forrester.
With the development of technologies and SaaS, businesses are spending more time and efforts in digitalization and processes automation to keep their competitive advantages. The growing process outsourcing sector is adapting quickly to those trends and the commercial proposition of the BPO companies is more often including digital solutions and automation as well.
Robotic Process Automation (RPA) is an innovative application, which a growing number of companies intent to invest in. By using software technologies, or the so-called “bots,” RPA solutions take over repeatable tasks and allow operations teams to focus human power on more complex and innovative cases. In this regard, BPO companies can help their clients design and optimize customer experience in a smarter and more efficient manner.
Firstly, automating tasks means higher cost-efficiency in the long term as RPA eliminates labor costs for jobs that are repetitive. According to a Global Outsourcing Survey back from 2016, almost 60% of companies surveyed back then were looking for ways to achieve higher quality and correctness through innovation. In 2020, a report by Grand View Research showed that the RPA service segment accounted for more than 61% of the market share in 2020 with the prediction to continue growing. This proves that RPA practices are a trend which an increasing number of companies implement. According to Deloitte’s Global 2021 RPA survey, companies that have already adopted RPA anticipated projections of “significant” increases in their investments over the next three years. 92% of respondents noted that RPA met or exceeded their expectations, which was followed by improved quality/accuracy (90%), improved productivity (86%) and cost savings (59%).
Other advantages of RPA to businesses include live operations with no interference. As bots do not need any breaks while working, the monotonous business processes in organizations can be continues, with limited errors and more secure with the help of bots.
The adoption of RPA itself is not complicated which could make businesses scalable. BPO companies can take further advantage of automation to achieve higher market share because of their competitive advantage and added value in the services they offer. Thus, companies could find new clients and therefore achieve higher ROI.
However, if a company is uncertain as to whether it should make an investment in RPA, it should carefully consider its competence and capabilities. Adopting robotic process automation as a service is beneficial to businesses in their attempt to scale and could also help them in the selection of a suitable vendor.