RPA- HOW IT IS BENEFICIAL AND ASSOCIATED COMMON MYTHS

Introduction

Automation robots are rapidly replacing repetitive manual tasks and increasing the accuracy and overall quality of organizations’ processes. There are several parameters in which we can compare them (with the manual). Few of them are listed below.
Myth-Industry is moving rapidly towards the implementation of RPA due to the benefits compared above, however, there are several myths associated with RPA, some of them are-
1- 100% Processes can be replaced by bots - No, manual processes can not be completely replaced. During the analysis phase, one needs to identify which are all automation candidates. There may be processes that are not good candidates like-


a- Multiple application involved in the processing of a transaction flow
b- Process that is executed from time to time, such as once a month. There is no need to make an effort to replace it with bots since the creation of bots will be more expensive and the ROI will take more time. Such processes can be planned in the later stage.
2- Great cost savings in the initial phase - each replacement of the bot process has some analysis and is it is necessary that there is an ROI analysis associated with it. Once the bots begin to function as a replacement, they begin to save costs, but that cost will be truncated, even eleven the effort given in their creation is compensated.
3- Kill jobs and replace humans - 100% replacement of manual activities with robots. It is not possible to replace humans. A manual effort will always be an essential part of every organization no matter how intelligent the automation that one creates. Unlike reducing / killing jobs, there will be more opportunities and more learning.
According to a PwC Global Operations Survey, RPA offers benefits quickly, and at the same time, ROIs of up to 800% are common. RPA has start-up costs, but it provides cost reduction through bots and, therefore, it affects the ROI and, therefore, companies are adapting quickly to RPA.
The future of RPA is a brilliant automation with intelligent algorithms and machine learning. RPA is in a phase of evolution and we can see a more advanced solution in the future in which robots can handle the problem in real time with its built-in algorithm, the intelligent automation of the future can apply decisions by itself.

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