With technology, it is easier for companies to streamline their operations. Therefore, most companies are looking forward to leveraging the latest technologies like RPA to robotize monotonous tasks. RPA (Robotic Process Automation) is highly recognized for conveniently carrying out tasks like data extraction, data entry, report generation, etc.
As a result, most businesses are looking forward to investing in Robotic Process Automation services to deploy bots for their tedious tasks. It will help save a lot of time and resources that can be utilized to carry out productive tasks.
What is RPA? Robotic Process Optimization
RPA, also known as Robotic Process Automation, is a robust technology that is integrated into the software to automate processes and repetitive tasks. RPA is leveraged to train software bots to imitate human actions to interact with computers and enable RPA bots to operate just like humans.
The primary task of RPA is to streamline operations and increase efficiency. The Robotic Process Automation implementation can help save a lot of resources that can be further used to commit higher value tasks.
Benefits of Robotic Process Automation For Businesses
Automated Responses – The first and foremost benefit of RPA implementation is that it can easily automate all rule-based activities and tasks. The software and applications are integrated with RPA to automate dull and time-consuming tasks.
Cost Effective – RPA is a cost-effective solution as it automates all the repetitive tasks performed manually. It helps businesses save a lot of time and simultaneously save money spent on training and management of employees. The budget for paper-based processes and storage is also saved.
Increased Efficiency – All the rule-based tasks and activities can be easily automated with the help of RPA. Robotic Process Automation is known for completing tasks with enhanced accuracy when compared to manual implementation.
Flexibility and Scalability – RPA is designed to easily adapt to the changing requirements of the business. RPA can also be easily deployed and scaled according to business demands. It can be smoothly integrated into any software, automating the processes.
Quicker – As all the activities are automated and executed through a bot, an RPA bot can finish a pile of work in a shorter period when compared to manual execution. RPA is well-known for completing tasks quickly with reduced or negligible errors.
Versatility – RPA can automate any task that is rule-based or has a specific process. Therefore, a vast range of tasks across multiple industries can be conveniently automated through Robotic Process Automation development.
Improvised Employee Productivity – Once all the repetitive and time-consuming tasks or activities are taken care of by the RPA, the employees are left with enough time to focus on productive and complex tasks that need more human attention.
Improved Analytics – It also assists in gathering error-free and accurate data from multiple sources, improving the data analysis quality. Accurate data further assists in making well-informed and wise decisions that help the business in the long run.
Security – Once RPA is held responsible for leading granular-level activities, the chances of a data breach are minimized. The Robotic Process Automation will gather and store all the data securely.
Customer Satisfaction – Ensuring customer satisfaction is a crucial and chaotic task. A single mistake can drive your customer to your competitor. Anyhow more attention and resources can be diverted towards ensuring customer satisfaction by assigning dull and repetitive tasks to RPA.
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RPA Facts and Stats
The recent report submitted by the PwC states that around 45% of the companies are investing in Robotic Process Automation Services as they are witnessing significant growth in their productivity. Another report from GVC (Grand View Research) also favors Robotic Process Automation. According to the report, the market valuation of RPA in 2020 was around $1.57 billion, and it is expected to be tenfold in upcoming years. The RPA industry is anticipated to touch the benchmark of $10.7 billion by 2027 with a projected CAGR (Compound Annual Growth Rate) of 32.8%.
Top RPA Consulting and Solution Provider Companies
Founded decades ago, it is one of the leading companies in the IT sector. Recently it has been appraised with the North American Enabling Technology Leadership Award. Over the years, it has collaborated with many corporations from 70+ countries. It has been dedicatedly to helping non-IT organizations for years to help them outperform their competitors and grow with time. The professionals at ScienceSoft hold expertise in automation and can develop a custom solution from scratch. Therefore, any rule-based task can be conveniently automated, saving a ton of resources.
Established Year – 1989
Headquarters – McKinney, TX
Number of Employees – 501-1,000
Celebal Technologies – It is another prominent IT company in the industry with multiple awards nailed on the wall. The company has been offering multiple services like RPA, Power BI, Analytics, chatbot, databricks, etc. to their clients and helping them excel in their specific field. Celebal Technologies combine expertise across the globe to help its clients achieve their goals. They also look forward to helping businesses automate their routine tasks, so the employees have time to focus on productive activities that contribute to the growth of an organization.
Established Year – 2015
Headquarters – Rajasthan, India
Number of Employees – 1,001-5,000
It is one of the finest choices for businesses looking forward to accelerating their automation journey. XenonStack is well-recognized for developing smart business processes leveraging RPA. XenonStack helps companies to enhance their productivity and stand out in the industry by automating tedious tasks. The IT solutions developed by them can be utilized to automate daily tasks and direct the human workforce on important tasks. It also takes pride in having partnerships and certifications from Google Cloud, Microsoft, Databricks, etc.
Established Year – 2016
Headquarters – Plano, Tx
Number of Employees – 201-500
Octal IT Solution –
It is another advanced RPA development service provider in the industry. Octal IT Solutions have single-handedly helped small and large-cap businesses to surpass their competitors and achieve their goals by automating their rule-based routine tasks and engaging employees in tasks that require spontaneous responses. It offers custom RPA development services to businesses as the requirements of each business differ from others, depending upon various factors. AI (Artificial Intelligence) is also being leveraged to develop the custom RPA solution. AI processes and converts data in an organized form that is easier to understand for RPA for smooth functionality.
Established Year – 2007
Headquarters – Jaipur, Rajasthan
Number of Employees – 51-200
YASH Technologies –
With a proven track record of delivering custom IT solutions to 70+ Fortune 500 companies, YASH Technologies is another great option for businesses looking forward to automating their processes to save resources and minimize the probability of errors. It has 8,000+ talented employees along with 50+ technology innovation centers. It has earned a winning edge by integrating RPA in software and applications according to business requirements. The experts working at YASH Technologies carry a technology-backed approach to diminish costs and inspire innovation.
Established Year – 1996
Headquarters – East Moline, IL
Number of Employees – 5,001-10,000
Signity Solutions –
From consultation to automation, Signity Solutions has a variety of IT solutions to offer to businesses and help them meet their requirements. The squad of talented and experienced employees can automate mundane and tedious tasks using RPA to improvise the accuracy and efficiency of the business. The developers build RPA using Artificial Intelligence and Machine Learning to smoothly perform high-volume repetitive tasks with accuracy. RPA developed by them can easily perform activities like data extraction, data migration, data entry, data collation, report generating, etc.
Established Year – 2009
Headquarters – Chandigarh, India
Number of Employees – 51-200
It is a dedicated Robotic process automation development agency that deals with businesses across various industries and helps them automate their tedious and time-taking task to save time, and resources and to enjoy other benefits. It helps corporations to divert their employees to essential tasks by automating mundane processes. Big businesses have started saving thousands of dollars every day by automating their tedious tasks. Flobotics also ensures speed-up processes, enhanced efficiency, scalability, unleashing team productivity, etc. to deliver better results to its clients.
Established Year – 2019
Headquarters – Munster, IN
Number of Employees – 11-50
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With over 2,800+ developers and 20,000+ apps built, Chetu has made its way into the Top RPA Consulting and Solution Provider Companies list. It offers custom RPA development solutions to businesses across various industries and helps them automate repetitive tasks and processes. The expertise of RPA developers at Chetu is complemented by Machine Learning and Artificial Intelligence knowledge. Thus, the developers can easily build an easy-to-integrate and cost-effective RPA solution that functions well and meets all the needs of a business. Also, the latest technology is leveraged to develop an advanced automated solution.
Established Year – 2000
Headquarters – Sunrise, Florida
Number of Employees – 1,001-5,000
Damco Solutions –
The experts here understand the necessity to leverage robust technology to develop custom solutions for organizations. Damco Solutions helps businesses create custom IT solutions according to their needs and use them as strategic assets. It understands that repetitive tasks and processes can be a big setback for a business if performed manually, as it utilizes a lot of manpower and time. Therefore, Damco Solution leverages the latest technology to create a custom RPA solution for businesses that take care of tedious tasks and lets the employees of the organizations focus on essential tasks. Every rule-based task, from accessing folders to extracting data, can be done automatically with the RPA implementation.
Established Year – 1996
Headquarters – Plainsboro, New Jersey
Number of Employees – 1,001-5,000
Concetto Labs –
Another leading name in the list of Top RPA Consulting and Solution Provider Companies is Concetto Labs. The company has been creating advanced solutions for businesses using RPA for years. The team of RPA developers at Concetto Labs is highly experienced and excels at their job. RPA development has been in practice for years and has benefitted hundreds of organizations. It streamlines the process and lets a business shift its focus to crucial tasks first. Artificial Intelligence and Machine Learning are also utilized to develop and implement an RPA bot that can easily handle high-volume tasks with remarkable efficiency.
Established Year – 2016
Headquarters – Chicago, Illinois
Number of Employees – 51-200
How does Robotic Process Automation Work?
RPA (Robotic Process Automation) accesses information from legacy systems and integrates it with an application to automate repetitive tasks and processes. It can be conveniently integrated into both the front end and the back end of the software. RPA reads and writes data, and captures events from the application’s user interface when implemented in the front end. It can also be integrated into the back end of the software to access essential data and automate processes and tasks. The RPA can be customized according to the demand of the business. Robust technologies like “Natural Language Processing” and “Artificial Intelligence “can be leveraged to develop RPA. It enhances the capability of RPA and lets it perform complex tasks conveniently.
What Solutions Do You Get From RPA Development Companies?
The RPA development companies have multiple services to offer, and here is a quick look at the same.
Organizations looking forward to automating their operations need to consult the idea with the RPA development companies. Only rule-based tasks can be automated, thus it is important to calculate and identify the automation potential. RPA consultancy will also help create a well-informed and strategic roadmap for RPA implementation.
After discussing the concept and creating the roadmap, it’s time to start developing the RPA as per the organization’s requirements. Cognitive technologies like Artificial Intelligence, Machine Learning, Natural Language Processing, etc. can be leveraged to develop a robust and advanced RPA bot that can efficiently handle high-volume workloads.
Once developed, it’s time to integrate the RPA into the existing software to automate the process and activities. Smooth interoperability between the RPA bot and organizational components is ensured for smooth automation. RPA bot can be integrated either on the front-end or back-end of the software, depending upon the use case and requirement.
Maintenance and Support –
RPA bot must be maintained over time to function well and carry out operations smoothly. Thus, RPA development companies offer maintenance and support services. It includes robot management, risk management, upgradation, scalability, etc. Also, 24×7 assistance is available to fix the issues on priority and ensure smooth process flow.
Use Cases of RPA Implementation
The primary task of RPA is to automate repetitive and time-consuming tasks to help businesses direct their employees to more important tasks. The use case of RPA can vary from industry to industry. The finance sector might need it for order management and billing, whereas the Healthcare industry might use it to automate prescription management, insurance claim, etc. Here is a glance at the most common use cases of RPA Implementation
Data Entry – RPA is most commonly used for data entry and validation. It can easily automate the process of entering and maintaining data. For example – RPA can automatically pick data from Excel sheets and populate it in the CRM system.
Report Generation – It can also be used for creating reports automatically by gathering data from numerous sources and further representing it in a pre-defined form. It is highly used for generating sales and operational reports.
Billing and Payment – It is also capable of automating the billing and payment process by extracting relevant data like seller’s details, bill numbers, amounts, etc from invoices. Once extracted, RPA Bots can validate this information with the purchase order log and process payments to the vendors accordingly.
Supply Chain Management – Maintaining the track record of inventory, generating purchase orders, and tracking shipments automatically with remarkable efficiency can be easily done through RPA.
Customer onboarding – It can also automate the process of Customer onboarding, RPA can be trained to collect customer information and verify it from authorized sources. It ensures smooth and swift onboarding of the customers.
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Types of Bots RPA Development Companies can develop for you?
Attended Bots – These bots are designed and developed to work along with humans. A specific event or action can trigger them and can help the person in executing a task or activity. This sort of bot is generally used for tasks like data entry.
Unattended Bots – These bots are capable of operating independently without any need for human involvement. These bots can be trained to perform a specific action upon predefined events or times. Unattended bots are generally utilized for handling high-volume and time-consuming tasks that can take hours to be completed.
Hybrid Bots – The hybrid bots have the proficiencies of both unattended and attended bots. They can operate in both ways i.e. with and without human intervention. The hybrid bots are also more flexible and scalable when compared to others.
Top Robotic Process Automation (Tools) Available
Automation Anywhere (Open Source) – It is the first and foremost tool on our list, carrying all the necessary capabilities. It ensures security through different means i.e. encrypting, authentication, and credentials. The user-friendly interface and real-time report generation make it an ideal choice for large organizations.
Blue Prism (Open Source) – This RPA tool is compatible with multiple platforms for smooth integration with any software. Blue Prism also provides optimal security software credentials and networks. Anyhow, programming skills are required to be able to operate this tool.
UiPath (Open Source) – An individual with no programming skills can also easily operate this tool. It is diligently designed to handle complex processes with high volumes. Tasks can be automated faster with UiPath as it supports Citrix. It also maintains security by providing encryption and role-based access to individuals.
Microsoft Power Automate (Enterprise Level) is a feature-packed RPA tool with numerous pre-built connectors. It offers cloud-based data storage to ensure loss prevention. Businesses using Microsoft Power Automate have witnessed a spike in their productivity and accuracy.
SAP Build Process Automation (Enterprise Level) has embedded Artificial Intelligence to offer intelligent document processing. Additionally, it has no-code and low-code capabilities that let a user automate the process with zero coding experience.
IBM Robotic Process Automation (Enterprise Level) – This tool comes with IBM Process mining that helps in identifying the automation opportunities and tests those before implementation. It helps organizations to acknowledge the impact and ROI of the RPA implementation. It further assists businesses in managing risks and make profitable decisions.
Appian RPA (Enterprise Level)– Last but not least, this tool can easily connect systems and software to automate processes and activities. It also helps in planning automation expansion and prioritizing automation requests according to enterprise requests.
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Top Industries Hiring RPA Consulting and Development Companies
Almost every industry has to hire employees to deal with repetitive and time-consuming tasks. However, most industries are now switching to RPA bots as it is a cost-effective and efficient replacement. Here is a list of top industries that drastically switched to RPA.
Finance – It is a sector packed with repetitive tasks, as a result, companies in the finance sector are actively hiring RPA development companies to automate tasks like loan processing, fraud detection, report generation, etc.
Healthcare – The businesses listed under the healthcare industry deal with many tedious tasks like insurance claim processing, invoice, data entry and validation, medicine inventory management, etc. All these tasks are now being taken care of by the RPA bots to let the doctors and nurses focus on patients.
Logistics – Companies dealing in logistics are also enjoying the benefits of Robotic Process Automation. Activities like tracking orders, managing inventory, and forecasting demand are now being taken care of by the RPA bots.
Human Resource – The HR of a company has to take care of numerous tasks like onboarding new employees, payroll processing, evaluating performance, leave managing, etc. All these tasks are repetitive and consume a lot of time. However, the HR industry has started appointing RPA bots for these tasks to be able to engage human power in productive tasks.
Government – The government has also started using RPA bots to automate activities like managing contracts, legal research, due diligence, etc. Switching to bots for conducting these activities enables timely compliance and minimizes human involvement. It let government officials divert their focus on the development and well-being of the country and its citizens
How to Choose the Right RPA Development Company
Finding the right RPA development company is equally important to enjoy the benefits associated with process automation. Here are a few points that can be considered to filter the best RPA development services to automate repetitive tasks.
Pricing and Budget – The initial step is to ensure that the pricing of the RPA development service provider fits your budget. Ensuring being on the same page with RPA development service providers on monetary terms is necessary to avoid future complications.
Experience and Expertise – Ensure to hire a service provider with a proven track record and a strong background in RPA development. The expertise can be evaluated by going through the past automation projects they have completed for their clients. Testimonials and portfolios can also be reviewed for a better insight into their capabilities.
Technology – The performance of the RPA bots partially depends upon the technology used to develop it. Therefore, ensure that the development service provider picked by you can leverage cognitive technologies like AI and ML while developing a custom RPA solution for your business.
Security – The RPA handles a lot of sensitive and critical data related to the organization. Therefore, verifying that the development company performs security practices to safeguard data and systems is mandatory.
Review and Ratings – The best way to ensure the credibility of any development service provider is to go through the review and ratings. It will tell you a lot about the capabilities of RPA Development Company. Thus, ensure hiring a company with excellent reviews and ratings.
Support and Maintenance – Lastly, you must ensure that the RPA development service provider also offers support and maintenance services after deployment. RPA bot needs to be maintained and upgraded with time to function smoothly and handle lengthy tasks.
How much does it Cost to Hire RPA Development Companies?
The cost to hire an RPA development company depends upon many factors like the origin and expertise of the Developer Company, business requirements, complexity, tech stack, RPA tool, etc. The two major factors affecting the development cost are – the origin of the developer and the time taken to develop the RPA Bot. Therefore, committing exact figures won’t be possible.
Anyhow, the development cost can be anticipated considering the size and origin of the team. The developers can be hired remotely on an hourly basis. The per-hour charges of developers from North America range from $40 to $65, whereas the per-hour cost of developers from Latin America is between $30 to $50. The per-hour cost can further be dropped from $18 to $35 when hiring developers from South Asia.
The hours estimated to develop the RPA solution can be multiplied by the per-hour charges of the developer to get a rough idea of the development cost. As a result, most organizations prefer hiring RPA developers from a country like India if the goal is to align the team of the best RPA developers at affordable rates.
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The need, benefits, and cost of RPA development are crystal clear now. Any business looking to automate its operations can invest in RPA development services. It will automate processes, improve accuracy, and save a lot of resources. The employees previously responsible for conducting those activities will have time to engage in productive tasks. Anyhow, ensure dealing with responsible and expert RPA development agencies for favorable results by cross-checking expertise, tech stack, security practices, etc., as mentioned above.
FAQs (Frequently Asked Questions)
What is RPA?
RPA stands for Robotic Process Automation and it is used to automate repetitive tasks and activities to save time and resources.
Which tasks can be automated with RPA?
Any rule-based task can be automated with the help of Robot Process Automation.
What are the benefits of RPA?
Robot Process Automation has multiple benefits to offer like task automation, improvised accuracy, cost-effectiveness, scalability, etc.
How long does RPA implementation take?
The time consumed in RPA implementation totally depends upon the business requirement and bot complexity.
How much does it cost to develop a RPA bot?
The RPA bot development cost can vary depending upon various factors like the developer’s origin and experience, bot complexity, RPA tool, etc. However, the estimated cost involved in developing a simple RPA bot can range from $10k to $50k.