Virtual Workers, Real Results
In a recent Gartner presentation “Robotic Process Automation: From Hype to Reality,” Frances Karamouzis, a VP Distinguished Analyst at Gartner, Inc., indicated that Robotic Process Automation (RPA) software is causing a workplace transformation in the services and sourcing industry.
1) Labor often accounts for more than 70 percent of business costs. Whether by outsourcing or in-house, much of an organization’s business processes are consumed by employee’s daily tasks. To alleviate their mundane routines, RPA software can trim tasks and save time.
2) Automation is enhancing relationships between employers and employees. Company personnel who are freed up to do what truly makes employees feel fulfilled: the ability to help others, be creative and utilize specialized technical expertise.
3) The speed at which new companies are demanding intelligent automation services, such as RPA or virtual talent, is increasing over time.
Take the tech revolution happening in the retail sector for example. E-commerce extends from your computer or mobile phone to massive distribution centers and then back to your front step. Increased fulfillment efficiencies and automation are beginning to bypass brick-and-mortar stores. Same-day delivery has become a normal consumer expectation.
4) In the past, labor was a proxy for determining price, especially for services. With automation, how we value services and price solutions and offerings will change. Companies used to go overseas for cheaper labor; now organizations are choosing to stay in-house but automate daily tasks because it’s better AND cheaper.
The Gartner analyst pointed out that the scales are really tipping from labor being the business epicenter to the combination of software, services and intellectual property. Karamouzis said surveys regarding tech services have always yielded the cheaper-faster-better proposition for outsourcing value, but things are changing.
With more companies recognizing the benefits of data automation software like RPA, we’ll continue to see a shift to faster-better-cheaper. In fact, many companies are already moving up the curve from labor to process to automation; thus, achieving standardization, predictability and scalability along the way. RPA software helps financial institutions, healthcare organizations and other companies do this, raising their efficiency bar and freeing personnel in the process.