Scale your RPA with the right tools
Organizations are increasingly seeing a need to automate wherever and whenever they can.?One area of focus, which Elecsoft is increasingly being asked about, is Robotic Process Automation (RPA). RPA is a set of tools that are designed to automate digital processes. It helps companies of all sizes improve inefficiencies, automate tedious tasks, and drive more value out of their processes.
Over the past two years the pandemic has further increased interest in RPA for many enterprises. Gartner predicts that by the end of 2022 at least 90% of large organizations would have implemented RPA in some form. The revenue from RPA has reached over $2 billion globally and is expected to continue its double-digit growth through to 2024.
Despite the surging demand, many companies have little experience with RPA and have difficulty understanding the differences between one RPA software and another. In this article, Elecsoft will look at current RPA market trends and provide our perspective on which RPA solution providers are excelling in this field.
The top three RPA tools currently available in the market are UiPath, Automation Anywhere and Blue Prism. For this article we’ll focus on these three solutions however there are several other solutions in the market, which include: ?
Blue Prism, founded in 2001, was the pioneer in RPA and came up with the term “Robotic Process Automation”. Most of its early clients were banking and financial institutions, which were the only customers that could afford the high RPA costs at that time. Since then, more affordable options like Automation Anywhere and UiPath came to the market and helped increase the flexibility and ease of implementation for RPA. Today they have both soared past Blue Prism, with UiPath being a clear market leader with a $35 Billion valuation.
In 2022, one of the key challenges for RPA companies will be how they can help their companies scale their RPA programs. Deloitte recently reported that out of the 53% of organizations that had started an RPA journey only 3% had managed to achieve any scale. Almost 65% of RPA initiatives stop after implementing 10 or fewer processes.
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So, how is an RPA provider like UiPath solving these scaling challenges?
·?????Ease of development: UiPath is one of the fastest RPA solutions in the industry. Whereas solutions like Blue Prism require higher coding skills making implementation slower and more difficult.
·?????Long Running Workflows: The UiPath platform allows easy interaction between digital and human workforces so that approvals or inputs can be seamlessly integrated into the workflow. This allows many more automations to be developed in a cost-effective way.
·?????Citizen Development: UiPath recently launched StudioX which is a no-code tool that allows non-technical users to create simple automations for themselves or their departments. This allows a greater degree of scale as employees can automate tasks for themselves and don’t require a company-wide initiative.
It is predicted that large organizations will triple their capacity of existing RPA portfolios in the next two years. This will largely be the result of companies purchasing new add-on capacity from their original vendors. In addition to this need for scalability, many new RPA clients will come from non-IT buyers. RPA vendors are seeing increasing uptake from Chief Financial Officers (CFOs) and Chief Operating Officers (COOs) who are drawn to the quick deployment of low-code/no-code automation. This makes it even more important to choose an RPA vendor that is built for scalability and ease of use across the organization.
UiPath is leading on all these fronts in comparison to its two main rivals, Automation Anywhere and Blue Prism. Users point to UiPath’s wealth of publicly available documentation, its easy onboarding, and the quality of its initial bots as key differentiators. To read a more thorough G2 comparison of UiPath vs Automation Anywhere, click here; for a comparison of UiPath vs. Blue Prism, click here.
The team at Elecsoft is available to help identify processes and provide your business with RPA consultation. Be it the use of our process definition document or identifying the RPA solution that fits your needs, our team is here to help. To see one of our RPA solutions in action click here. To schedule a consultation with our team and begin your RPA journey?click here.?