2021 will be the year that businesses get back on track after a year of unparalleled disruption. Many will be looking towards technology and automation to improve efficiency, reduce costs, and build up organizational resilience. One technology that should be at the forefront of those conversations, is robotic process automation (RPA).
In a recent report, Gartner is forecasting that RPA revenue will reach close to $2 billion this year, and will continue to rise at double-digit rates beyond 2024. As more and more organizations implement it worldwide, RPA is fast becoming a ubiquitous and necessary tool for the competitive enterprise. This is aided by the rise of low-code and no-code solutions, allowing non-developers and non-IT specialists to play a role in driving digital transformation.
So, let’s explore why RPA is important for businesses and why it is worth investing in today.
Why RPA is important in 2021
Fabrizio Biscotti, Research Vice President at Gartner, highlights just how great the impact of RPA can be for organizations: “The key driver for RPA projects is their ability to improve process quality, speed and productivity, each of which is increasingly important as organizations try to meet the demands of cost reduction during COVID-19.”
The last few years have seen consistent growth in RPA, and Gartner forecasts this to continue well into the future, with 90% of large organizations adopting RPA by 2022. Gartner cites resilience and scalability as the main drivers for current and continued investment. But RPA provides a multitude of advantages for organizations.
Here’s why RPA is important for process automation:
- Improve speed, quality, and productivity– RPA bots can be trained to undertake un-intelligent and repetitive tasks faster and more accurately than humans ever could.
- Get more value from big data– many organizations are generating so much data that they can’t process all of it. There are many opportunities to gain insights from this data and drive greater efficiencies. RPA is ideally suited to help parse through large datasets, both structured and unstructured, helping organizations make sense of the data they are collecting.
- Free up employees for more valuable tasks– RPA offers the opportunity to free employees up to work on more valuable tasks. Leaving tedious and repetitive work behind, employees can take up the jobs of the future, perhaps upskilling to implement automation and AI to achieve greater outcomes.
- Become more adaptable to change– Recovering from the disruption caused by COVID-19 involves organizations becoming more agile and nimble in dealing with change. Resilience and adaptability are central to overcoming current and future challenges. RPA helps organizations speed up processes while reducing costs, ensuring organizations are ready to deal with disruption and change.
Value that extends across the organization
The report also indicates that interest in RPA has extended beyond IT departments. CFOs and COOs are opting for RPA as they look to low-code and no-code solutions as the answer to the challenges they face. Gartner suggests that by 2021 almost half of people investing in RPA will come from outside IT.
This democratization of technology through low-code and no-code tools is something we are enthusiastic champions of here at Nintex. Digital transformation is a journey that must be embraced across the organization. This is particularly the case with process automation, since it’s the employees themselves that really know which processes work well and which need to be improved. By giving more employees the ability to contribute to process improvement, you empower your workforce to make the change they want to see at the organization.
At Nintex, we believe it’s time for every organization to join the low-code revolution. Nintex RPA is a great place to start.
The value of Nintex RPA
Nintex provides the complete process automation package, including robotic process automation. Quick and cost-effective, Nintex RPA helps organizations meet the challenges of the modern world, including providing the capabilities to build greater resilience and adaptability into the foundation of their processes.
Nintex RPA’s intuitive drag and drop functionality enables non-developer employees across the organization to train, manage, and deploy bots, no longer limiting these activities to skilled programmers. With Nintex, RPA bots can be used to complete tasks across the entire enterprise, from spreadsheets to websites and to legacy applications.
What’s more, Nintex RPA helps you build RPA strategy that is geared towards outcomes, as organizations only pay for the processes they automate, not the number of bots being used.
To learn more about why RPA is important and how process automation can help your business achieve its goals this year, get in contact with the team at Nintex today. Or you can test out the Nintex Platform with a free trial.