RPA and Business Intelligence take digital transformation to the next level
RPA (robotic process automation) solutions have been on the market for a few years. Companies that were early adopters have successfully implemented them and enjoyed rapid ROI and a strengthened competitive advantage.
It is no coincidence that the first and only decacorn in Romania to achieve this status develops process automation solutions. Demand for RPA has seen impressive growth according to industry publications – from 18% in 2018 to 73% in 2020 – and it is expected that by 2024 organizations of all sizes will be implementing automation solutions on a large scale.
RPA finds its use in any department of a company. Its role is to take over repetitive, structured/logically staged and high-volume tasks from human operators. Software robots solve 24/7 and error-free tasks that don’t require decisions or creativity, leaving employees free to contribute in new ways to the development of the organization.
In an overall framework where we are increasingly looking for simplification, automation is more like software linking processes, with a non-invasive approach in IT systems.
Common uses include automations such as entering and collecting data from multiple sources and moving it from one IT system to another, reconciling data from two or more software applications or linking information into a final report.
These technologies improve processes such as claims management, invoicing and debt collection, completion of tax returns, timesheets, assessment forms or surveys.
We are on the threshold of a new industrial revolution, and the next step, beyond delegating tasks to software robots, is to understand and leverage the data available within an organization through Business Intelligence solutions. We can achieve this by combining artificial intelligence, deep learning technology and graphical visualization applications to design an accurate business overview.
The automatic collection and storage of information, regardless of its source, in a single data lake is just the prerequisite for the ultimate goal – data-driven decision making.
At this point, knowing the strengths and weaknesses of the organization, the products and services that generate profits and the activities that induce losses, we have the information needed to increase the company’s performance.
Furthermore, with AI-based analysis and prediction tools at hand, capable of generating trends based on available data, informed and rapid business decisions can be made with real impact on profitability.
As every company is different, so every industry will benefit differently from the implementation of RPA and BI solutions. The industries reporting the best ROI are Transportation and Logistics, Manufacturing, Insurance, Financial/Banking, Utilities and Healthcare.
Any industry where computers are used can benefit from what RPA and BI are all about – efficiency, accuracy, speed and reliability – and in the digital age of information, there are very few businesses that don’t fit this scenario.