Seizing the Robotic Process Automation (RPA) Market Opportunity
Source: Everest Group (GIC=Global Inhouse Centers/captive shared services)
A recent Everest Group / NASSCOM report finds that organizations are increasingly adopting technology and automation solutions as changes in nearly all aspects of global business compel them to reduce costs and improve outcomes. Robotic Process Automation (RPA) – essentially defined as automation that can handle rules-based and repetitive tasks without human intervention – is notably gaining acceptance: while current BPS spend on RPA is low, it grew at about 100% CAGR over the last two years, and is expected, ultimately, to impact 30-40% of total BPS spend.
RPA offers the dual benefits of high potential for value creation and a comparatively lower risk profile.
- Cost reduction of 35-65% for onshore processes and 10-30% for offshore delivery
- Improved service delivery in both quality and speed
- Better ability to manage governance, security, and business continuity
- Speedy deployment (generally 2 to 12 months) andtime-to-value (12 to 24 months)
- Non-invasive, easy-to-manage nature
Of course, RPA implementation isn’t a panacea – there are challenges and limitations that enterprises need to take into consideration.
- IT team resistance
- Hidden costs
- Visibility issues
- Tactical, not strategic
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Full report Seizing the Robotic Process Automation (RPA) Market Opportunity here.