RPA, Robotic Process Automation is a clubbing of Artificial Intelligence and software automation. Basically, the RPA allows your businesses to set up computer software for extracting knowledge, recognizing patterns, and learning, adapting and responding to the new surroundings and situations.
Robotic processing automation is entirely different from the programming of a standard computer, which behaves in a static and predictably linear fashioned way. RPA is as dynamic as it searches for various patterns and develops predictions. Robotic process automation can be used for observing the way in which a well-trained user completes a specific task and many other decision points that are engaged in the accomplishments of the undertaken task and in the replication of the process.
Robotic Process Automation is changing BPO and KPO
BPO is the process of contracting both the non-primary business activities and their functions to a third-party provider. The services provided by Business process outsourcing include human resources, customer/call center relations payroll, and accounting. The business process outsourcing services are categorized as the front-office and back-office business services that include the tech supports and billings.
The advantages of Business Process Outsourcing include:
- It enhances the speed and efficiency of the business processes.
- BPO Employees mostly involves in core business strategies for reinforcing the competitive advantage and thereby enhancing the value chain engagement.
- The problematic investment returns are averted through the increase in organizational growth that does not require capital resource and asset expenditures in particular.
- There is no need to invest in many business strategy assets and facilitates a shift in importance to specific competencies.
KPO, Knowledge Process Outsourcing is basically a subcategory of the Business Process Outsourcing. Knowledge Process Outsourcing deals with the outsourcing of the core functions that sometimes give money benefit to the parent company but sometimes not. They help in value addition as well. The most specialized and knowledge-based processes are outsourced through KPO than BPO. The Knowledge process outsourcing services mainly include R&D, legal services, animation, and design Capital and insurance market services, biotechnology etc. The trend is now giving way for Robotic Process Automation because of its easiness and fastness.
How can RPA replace BPO and KPO?
Robotic Process Automation has the extra potential to develop many outsourcing relationships obsolete. The threat of Robotic process automation towards the outsourcing BPO and Knowledge process outsourcing (KPO) mainly includes the aspects of cost savings.
The replacement of BPO and KPO by RPA throws out many benefits to the companies like:
- Complete control: This helps your organization to control the complete automation process by breaking out the chances for a third party to forget the goals and vision of your company.
- Lower costs: The rate for designing and implementing Robotic Process Automation is a fraction of the average outsourcing contract.
- Wide versatility: Robotic process automation basically consists of a variety of business processes. The tasks are a good candidate for RPA if they are definable and rules-based.
- Simplified communication: RPA robots are needed to be trained once. After that, the robot is enabled by the power to repeat the tasks reliably, accurately and uncomplainingly.
- Accuracy: The RPA robots have extreme accuracy.