Watch:

Listen:

Software robots interpret the user interface of third-party applications and are configured to execute steps identically to a human user. They are configured (or “trained”) using demonstrative steps, rather than being programmed using code-based instructions. This is an important concept in the RPA market because the intention is not to provide another “coding” platform for IT users. Rather, the intention is to provide an agile and configurable capability to non-technical “business” users in operational departments.

For a project to qualify for an RPA project, it must satisfy 3 things: Rule-based processes, Structured data and Stable over time

Popular Robotic Process Automation software applications include Blue Prism, Automation Anywhere, OpenSpan, UiPath

Strengths:

• Fully/partially automated process
• On time Delivery/Customer satisfaction
• Time Saving
• Cost Reduction
• Increased ROI
• Audit logs to support compliance
• Secured Access
• Rapid Development
• No change to business application
• Continuous Improvement
• Easy to deploy and re-configure
• Increase productivity by eliminating wastes

Weakness:

• Technology at time does not function as intended
• Quality check still preferred to be manual
• Coding standard
• Performance variance across system
• Exceptions
• Unstructured input for processing
• Limited support for browsers such as Chrome, Firefox etc.
• Dependency on NLP tools reading and understanding free flow texts
• Lack of project-based training to the development team

Opportunities:

• RPA learning for Ops
• Process improvement
• Strong case to attract other business
• Encourages process standardization across different business areas for the same tasks
• Leverage FTEs to other highly skilled jobs
• Gain share
• Roadmap for future projects
• Building COE
• Strong BCP
• Incorporating NLP and Data quality
• Change Management

Threats:

• Cognitive process
• Application Downtime
• System/Hard Disk crash
• Major change request
• Business process pulls out
• Unstable process
• Lack of best practices and solution design and architect
• Upgrades to underlining application poses a challenge
• Consideration existing systems capacity and SLA provisions
• Scalability of RPS Center of Excellence across a breadth of business functions

Robotic Process Automation is a hot field right now with companies becoming aware of the potential of the technology. Not long ago, RPA was “a total mystery” to most organizations, but its potential is now grabbing the concentration of IT consulting and advisory firms, outsourcing providers, and enterprises.

Deloitte US study in 2017 thinks that 35% of skills will be different in near future

BBC Research in 2016 indicates –60% probability that services business will lose jobs to RPA

Oxford Study indicates –50% probability that RPA will evolve to take more rule-based tasks

So far, Capegemini Consulting had automated 200 processes on 50 robots in delivery centers worldwide, with a positive return on investment within a few months, dividing running costs by 7.

A Large Banking company in US’ in-house robots have processed 1.5 Million transactions since 2016, equivalent to 200 employees.

You would’ve guessed it by now – It is important to stay relevant. It doesn’t matter if you’re a Business Analyst, a Stock Trader, Hedge Fund Accountant or Tax consultant. If you have strong foundations of RPA, imagine you could be a valued intermediary between Technology and your Business. Your organization will rely on you since you understand the business nuances and RPA fundamentals to figure out what’s possible.

As RPA adoption has exponentially grown in the last 2–3 years, there is a shortage of good resources in the market.

If you 1–2 years of experience in RPA in any role, there are ample opportunities available in the current job market where you can demand good salary and profile. (that’s $150,000 plus per year)

It is going to increase in the next 2–3 years before it reaches its peak and then you will need to upskill yourself to include Cognitive technologies to further expand your career.

It doesn’t matter if you’re a Business Analyst, a Stock Trader, Hedge Fund Accountant or Tax consultant. If you have strong foundations of RPA, imagine you could be a valued intermediary between Technology and your Business. Your organization will rely on you since you understand the business nuances and RPA fundamentals to figure out what’s possible

If you’re a Business Analyst, Flowchart Designer, IT Professionals, Analysts, Job Seekers, System Administrators, you cannot afford to miss this.