Transforming Business with Robotic Process Automation

Akshay Chandrachood

doi:10.36948/ijfmr.2021.v03i06.1874

Transforming Business with Robotic Process Automation

Author(s)	Akshay Chandrachood
Country	USA
Abstract	Robotic Process Automation (RPA) is the next level of business process automation where software-based robots (bots) are used to interact and perform the transactions and interactions that earlier human resources used to do through systems, data, files, and messages. This technology has found its way into many sectors, such as the financial sector, health sector, retail sector, and manufacturing sector, because of its efficiency and qualities for achieving organizational objectives. RPA offers a convenient opportunity for an employee to code or program bots for transactions, data manipulation, generation of responses, and interaction with systems, thus fostering faster development with less coding. The prospects of RPA include improved effectiveness of automation, easy savings, higher accuracy, versatility, meeting legal requirements, and staff satisfaction. Bots perform their task 24/7, and they help to increase the throughput and capability of an organization to handle more work without more employees. The success stories include various industries such as financial services, healthcare services, retail, and many more. However, some complexities include the selection of the process, the methods of managing change, the integration of the methods into the business, security, and maintenance of the processes. Indeed, as RPA combines with other technologies such as AI, IoT, and blockchain, its applicability expands as more sophisticated activities may occur and end-to-end automation is possible. The market for RPA is considered to be quite promising due to emerging necessities for efficiency and cost-saving measures. Future development of the technology for incorporation into more complex platforms suggests further advancement and specialization of application within the field of business operations, thus securing RPA as a strategic technology asset of today’s globalized economy.
Published In	Volume 3, Issue 6, November-December 2021
Published On	2021-12-28
Cite This	Transforming Business with Robotic Process Automation - Akshay Chandrachood - IJFMR Volume 3, Issue 6, November-December 2021. DOI 10.36948/ijfmr.2021.v03i06.1874
DOI	https://doi.org/10.36948/ijfmr.2021.v03i06.1874
Short DOI	https://doi.org/g8nhh9

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Transforming Business with Robotic Process Automation

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