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Updated by Sphinx Solution on Oct 10, 2019
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Ultimate Guide of RPA for Businesses

RPA is doing much more than we expected. 2019 witnesses a rapid change and experimentation with RPA tools. RPA as an industry growing exponentially. A prediction by Forrester shows it will increase from $250 million in 2016 to $2.9 billion in 2021. The big organization believes that if the on-going trend continues, we will witness a vast adaptation of RPA in almost all sectors.


What is RPA(Robotic Process Automation) software?

In simple words, Robotic Process Automation is a software that is programmed to replicate what employees can do that is very transactional is not rule-based. It is typically faster, more accurate and works more flexibly than what humans can’t. As governed by Artificial Intelligence, RPA tools help in several processes; however, application and system data gathering and interpretation is the most common use case of RPA.


How does RPA work?

RPA solution helps to automate the everyday manual tasks executed by configuration analysts. Manual jobs include application configuration, data entry, validation of files, creation of test data, data load and report generation.
RPA uses the following components:
Cognitive Automation Platform (CAP) – It is powered by machine learning & predictive capabilities to generate meaningful data from any format of unstructured data.
Unified Test Management Solution (UTMS) – It is supported by bots to boost productivity and efficiency by performing labor-intensive mundane tasks.


What is RPA used for?

RPA can effectively complete any routine business process that follows simple rules to make a decision. So, you can perform an entire end-to-end process for your business.
Robotic Process Automation is best suited to use for:
Rules-based task.
Time-critical and particular period.
Prone to error.
Highly repetitive and mundane work.


What are the potential benefits of RPA?

Accuracy– RPA software is generally less prone to errors. It works with high uniformity and precision.
Consistency– All the tedious works are executed in the same manner.
Cost-cutting technology– Decrease the manual workforce and hence reduces the cost of operation.
High productive rate– Execution time is faster; this, in turn, increases the overall productivity.
Less coding required– RPA software doesn’t require much programming knowledge.