What is RPA and What Impact Could it Have on Your Business?

Organizations of all kinds are flocking to robotic process automation (RPA). And with reported cost savings of up to 60%1 and time savings of up to 90%, this comes as no surprise. In fact, Gartner estimates that by the end of 2022, 85% of enterprises will have some form of RPA implemented in their business2. And Forrester calculates the RPA market will exceed a 50% CAGR by 2023, going from roughly $500 million to $2.8 billion. But for all the buzz surrounding RPA, there still seems to be quite a bit of confusion about what it is exactly … and what it’s not.

Organizations
of all kinds

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Savings of
up to 60%

Blog - RPA icon - TEAM International

By the end of 2022,
85% of enterprises
will use RPA

But for all the buzz surrounding RPA, there still seems to be quite a bit of confusion about what it is exactly… and what it’s not.

What is Robotic
Process Automation
?

RPA is

RPA is NOT

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Set of virtual
robots or “bots”

A set of virtual robots or “bots” that carry out repetitive, computer-based processes.

Physical
robot

A physical robot that carries out manufacturing or other physical processes.

Automation of
repetitive tasks

Highly effective for automating actions that are repetitive, rules based, and frequent – or what we refer to as RRF tasks.

Automation of
complex decisions

Effective for automating unstructured processes that require complex decision making… yet.

Enhancement of the human workforce

Automation that complements and enhances the human workforce.
Blog RPA - Replacement-of-human-workforce-icon - TEAM International

Replacement of the human workforce

Something that replaces the entire human workforce.

Business-
focused solution

A business-focused solution that helps increase accuracy, improve compliance, and drive revenue, in addition to cutting costs.

Only a cost- reducing solution

A one-dimensional solution focused solely on reducing costs.

Why consider RPA
for your business?

Put simply, RPA enables “robots” to perform repetitive, time-consuming, computer-based office work with little to no manual intervention. This allows your human employees to spend their time and energy on strategic work that adds more value to your bottom line.

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Rules-based
processes

Up to 80% of rules-based processes can be automated with RPA3.
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Time
savings

Cut down processing times by up to 90% with RPA.
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Increased
customer retention

RPA enables faster delivery of better products and services, greatly increasing customer satisfaction4.
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Faster
processing times

RPA can execute processes up to 600% faster than humans in some cases5.

24/7

Around-the-clock
operations

RPA can run 24/7/365, at the same pace and cost, even on weekends and holidays!

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Accuracy

RPA executes tasks with minimal exceptions, providing up to 100% accuracy6.

Learn more about RPA and how you can apply it most effectively in your business

Download The Practical Guide to RPA white paper to quickly gain a better understanding of what RPA is, what it is not, and how to reap the benefits it provides for businesses.

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