Summary by Deloitte and S2G with the support of Luis Gonzalez Gugel.
What is the technology about? Robotic process automation is automatization of repetitive and low-value added cognitive tasks, especially around information processing and capture, by using digital technologies and machine learning
Evolution of the technology: The origin of RPA are macros, like does in Excel or word, that allow to repeat a complex task based on a keystroke. Proper RPA allows the robot to fully control the mouse and keyboard of the computer instance, being able to perform more complex repetitive tasks. Cognitive introduces the use of Machine Learning techniques to deal with exceptions and make the system learn automatically from exceptions increasing its capability with the use and corpus available.
Key metrics: % of cases that can be handled, number of tasks that can be replaced, FTEs that can be replaced, reductions in error rate, increases in speed,
- Lowers the operational cost of the tasks
- Minimizes errors and distractions in data processing
- Increases speed of execution reaching the limit of the underlying application
- 24×7 availability of robots with no downtime
- Quick and perfect replicability of new workers when demand is generated
- Total homogeneity in management
- Software suppliers: Automation Anywhere, blueprism, Kofax, PEGA.
- Case examples of robotization: Robotization of trading in Wall Street, Automation of invoice processing in a back-office, commercial loan agreement automated interpretation by JP Morgan through COIN software.
Implications for companies
- Back-offices that process data manually can be automated decreasing cost substantially while increasing speed and quality.
- New business models can be generated based on the new cheaper and faster processes
Industries for which the trend is critical
- Industries that have large back-offices dedicated to information processing.
- BPO industry.
For more information reach out to me at Deloitte