Process Mining and Robotic Process Automation: The Perfect Marriage
What does a survey created in partnership with SSON tell us about the state of Robotic Process Automation, and the role of Process Mining in it?
A few months ago, we partnered up with Shared Services and Outsourcing Network Analytics (SSON Analytics) to bring you the latest insights on how companies are embracing Robotics Process Automation (RPA), and where Process Mining (PM) fits in.
SSON is the leading online news source for “global business services executives and business leaders who leverage technology and best practices to improve operational efficiency.” More than 120,000 members make it the largest community of shared services and outsourcing professionals globally.
SSON Analytics provides digestible data insights into the global shared services and outsourcing industry.
The full report is divided into 9 chapters, including such topics as the future of RPA, avoiding RPA failures, what drives companies to invest in RPA and PM, or how to find the right candidates for automation, and the path to RPA excellence through PM.
In the upcoming weeks, we’ll share all the key data, facts, and knowledge gained from the report with you. Ready?
Introduction to Robotic Process Automation
RPA provides the means to help organizations automate some of the employees’ daily activities.
So-called “bots” perform these tasks based on specific algorithms. Bots are software applications that are deployed into the company’s IT systems to run tasks that were previously human-driven.
RPA can substitute those human-driven processes that are standardized, repetitive, occur in high volume, and don’t require human-decision making. Automating processes that don’t fall under these criteria may multiply the number of flaws and potential errors that occur within these processes.
Being technologically secure, stable, and scalable, RPA can be implemented across multiple sectors, including BFSI, energy, utilities, manufacturing, telco, banking, and even retail.
Benefits of Robotic Process Automation
Reduction in costs
- Decreases operating costs
- Improves flow rate
- Decreases cost of workforce
Considerable improvements in processes
- Allows for more efficiency in far less time
- Permits the flexibility to change or add processes when required
Reallocation of resources to more worthwhile functions
- Takes on the burden of repetitive tasks
- Allows employees to focus on greater value assignments
Increased productivity
- Mitigates tasks that are prone to human error, or hiccups
- Launches virtual/digital workforce rapidly and painlessly
Improved quality
- Increases transparency, compliance, and ability to carry out audits
- Improves consistency by way of standardizing processes
Optimizing the customer experience
- Removes employee errors, increasing customer satisfaction
Improved compliance
- Every action taken by RPA is recorded for audits
The Future of Robotic Process Automation
With growth continuing to accelerate in RPA, Forrester states that RPA will reach roughly $3B by the year 2021.
The chart above demonstrates that the adoption of RPA within companies, worldwide, will continue to increase over the coming years.
More than 75% of respondents are either planning, have started testing, already implemented, or are in the midst of scaling Intelligent Automation, such as RPA, into their daily operations.
The capabilities will expand as well in managing customer-related and external processes.
On the horizon, we will see the rise of RPA Version 2.0. This will bring about the use of AI and put businesses closer to Digital Transformation, providing companies the tools needed to succeed in the future.
Michal Rosik, CPO & Product Visionary at Minit
Next time, we’ll take a closer look at why RPA projects run into trouble and how to avoid it. So, stay tuned!
In the meantime, can we help you get on track with your Robotic Process Automation or Process Mining initiative?
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The article was originally published on the Minit.io blog.
Photo by Mitchell Hollander on Unsplash
