RPA Experiences Tremendous Global Growth.
Robotic Process Automation (RPA) is experiencing rapid growth right now - in part because it can mitigate the economic impact of the Covid pandemic. The use of RPA brings direct benefits and often pays for itself in a very short time. That's why the market increasingly attracts the big players in the industry too.#IBM #Business Automation #Robotic Process Automation
RPA has emerged globally and across industries as an innovative technology that drives digital transformation and makes it possible to perform large volumes of operations in desktop and cloud environments[i]. Artificial intelligence and machine learning have contributed to this; both fields have seen massive advances in recent years. This drive, along with the global pandemic, has led to a huge RPA growth spurt.
The healthcare sector is particularly interested in RPA
The global RPA market grew by 21.3 percent in the first pandemic year of 2020, according to a study by global market research firm Fortune Business Insights [ii]. This year, global sales already amount to 1.6 billion US dollars. Over the next seven years, this market is expected to grow to 7.64 billion dollars. According to this analysis, the increasing adoption of digitization in industrial applications such as utilities, insurance, and banking companies is expected to further drive the integration of RPA solutions. However, demand in the healthcare sector has grown particularly strongly since 2020. According to trade publications, many hospitals have started using RPA for registering cases, tracking health records, and maintaining treatment status. RPA bots can automatically answer and process appointment requests from patients, enabling around-the-clock booking services. Software bots are also being used in the medical supply chain; they detect supply shortages and delays and can keep procurement teams informed.
Robot automation is part of the digital transformation
A majority of business leaders knew long before the pandemic that the use of RPA is crucial for digital transformation. A survey by Dutch software specialist Redwood found years ago that 83 percent of IT decision-makers consider RPA indispensable when it comes to their digital transformation strategy. Today, demand is growing for process automation software to increase workflow speed and efficiency while reducing costs. Fortune Business Insights analysts expect the use of RPA to mitigate the impact of the pandemic in many organizations. Because this type of process automation enables the rapid automation of processes in less time, they say, it is considered one of the best software for increasing productivity in home offices and other outsourced locations.
New industries, new applications
Certain industries, such as retail, travel, and hospitality, have been particularly hard hit by the effects of the pandemic. Companies in these industries are looking for solutions to mitigate these impacts in a future-proof way. RPA can make a significant contribution: Software automates the repetitive manual tasks of human workers and can fill in screens or update data. RPA can learn from humans and also read screen content. Expensive interfaces are unnecessary. For example, airlines use RPA when they needed to automatically process huge fluctuations in bookings and cancellations as they did in recent months.
UMB is solidly positioned when it comes to RPA. At UMB, RPA starts by demonstrating the practical potential in your business and transparently showing whether it is worthwhile for your company to use it. In most cases, RPA delivers return on investment after just a few weeks.
RPA for all from the big players - through UMB
IBM and UMB have been successfully working together for decades. UMB is the first and largest IBM Platinum Business Partner in Switzerland. UMB is also the most certified IBM partner in Switzerland - with well over 350 IBM certifications. We provide a broad base when it comes to RPA. At UMB, RPA starts with demonstrating the operational potential in your business. We will demonstrate transparently whether it is worthwhile for your company to deploy it. In most cases, RPA will deliver a return on investment after just a few weeks.
Contact us if you want to take the next automation step in your company.