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Robotics to reduce costs and improve profits

Over the centuries the human drive for invention and improvements never ceases to amaze me. More than any other species on planet earth we simply cannot sit still for 2 ticks and have a huge drive for innovation, profits and ingenuity. Since the industrial revolution of the 19th century, to the huge technological advancement of the 20th century we have come a long way in terms of education, healthcare, life expectancy and technology. The latest craze to hit the world of outsourcing is how software is helping to automate repetitive tasks and stitch together business processes using a set of rules also known as RPA (Robotic process automation). In a study by Cognizant in 2015 the top 5 drivers for using RPA is:

1.       Reduce errors

2.       Better manage repeatable tasks

3.       Improve standardisation of process and workflow

4.       Reduce reliance on multiple systems/screens to complete the process

5.       Create a friction less straight through process

Although RPA is in its infancy stage it is already having a big impact on many organisations. Some of the claims coming out from big providers is that it can boost productivity by 70%, cut IT costs by 30% and improve quality by 45%. The challenge with implementing RPA boils down to some heavy lifting on the business analysis front, and having very detailed industry knowledge to quickly get a grasp of how to standardise and automate business processes. Implementing change and replacing people with software isn’t a straight forward engagement, it requires commitment from HR, legal, finance, IT, operations and strong leadership to succeed.    

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