With many outstanding features, RPA quickly becomes the ultimate choice for many enterprises in the digital transformation journey.
Table of Contents
RPA – The overview
What is RPA?
RPA (Robotic Process Automation) is a software technology that simulates human task behavior.
Particularly, the operation of RPA works on the interface layer of browsers, and software… Programmers use programs to build specific processes so that bots can simulate human interaction on the Graphic User Interface (GUI) between different systems.
Software robots allow tasks to be performed quickly, with 100% accuracy, and more stability compared to humans. However, for complex cases or when errors occur, humans can still intervene to handle them.
A necessary RPA system must meet the following three essential criteria:
- Communicate with other systems to eliminate screens or integrate APIs – (Application Programming Interfaces)
- Decision-making capabilities
- The ability to be integrated with bot programming interfaces
Some types of tasks that are suitable for RPA deployment include these characteristics:
- Rule-based
- Prone to errors
- Large volume
- Time-consuming
- Frequent, regular
For example, RPA bots can be applied in account reconciliation to extract data from various systems, match transactions, and pinpoint exceptions for human assessment. This results in significant time savings compared to manual reconciliation processes.
Classification of RPA
RPA also has specific types for enterprises to choose according to their requirements and conditions:
- Supervised automation: When automation processes take place, human intervention is still necessary.
- Unsupervised automation: Automation processes operate independently by bots, without human intervention.
- Hybrid RPA: A combination of supervised and unsupervised automation, allowing for flexible process automation.
Each RPA type will have its advantages and disadvantages, so to achieve the highest efficiency, businesses need to thoroughly assess their operations to choose the appropriate RPA types.
Common RPA use cases
RPA can be deployed in many sectors such as finance, accounting, banking, manufacturing/retail, logistics, etc.
- Finance and banking: Tasks like account opening, and KYC… in this field involve working with extensive data and manual processes that consume time. RPA facilitates rapid and accurate execution of these tasks.
- Manufacturing/retail: A vast number of tasks such as processing invoices, and handling orders in the manufacturing/retail sector can be automated by bots.
- Telecommunications: RPA aids in tasks like payment processing, customer query resolution, or incident management, facilitating businesses to meet customer needs.
- Logistics: Logistics businesses will no longer struggle with tasks such as processing and tracking orders, and managing transportation, thanks to the automation of these processes.
Benefits of RPA for enterprises
Remarkably, RPA brings several notable benefits to businesses.
- Cost savings: Implementing RPA allows enterprises to reduce costs related to human resources, error handling, and operational expenses…, thereby optimizing business profits.
- Increased productivity: Applying RPA streamlines business processes, enabling faster and simpler process execution, thus increasing productivity.
- Enhanced accuracy: Bots ensure 100% accuracy and minimize errors during task execution.
- Continuous, uninterrupted operation: Unlike humans, software bots can operate 24/7. Continuous operation eliminates delays between tasks.
- Help employees focus on higher-value work: Automating processes with robots replaces manual tasks performed by humans, streamlining processes, and allowing employees to focus on more important tasks.
Challenges in implementing RPA
However, alongside the impressive benefits that RPA brings, enterprises also face certain challenges when deploying RPA:
- High initial investment costs: Initial investment costs depend on various factors, especially the complexity of the bots.
- Requires software programmers with broad expertise: RPA can be applied in diverse fields. However, in fields where tasks are highly complex, such as accounting, banking, and finance…, RPA programmers need comprehensive knowledge. However, the RPA programmer workforce in Vietnam is still in the early stages, making it difficult to meet complex technical requirements.
- Standardization of input data/information, existing management processes: RPA is applied to rule-based tasks and processes, so organizations need to establish necessary standardized processes for input data and information.
- Requires compatibility with IT systems/internal operating systems: Many enterprises, especially those operating in the banking sector, possess complex IT infrastructures with specific characteristics. To successfully deploy RPA, it is necessary to ensure connectivity and compatibility between RPA and IT systems, and internal operating systems.
Steps in implementing RPA
Depending on the model and specific conditions, there will be suitable steps. Generally, automating a business process involves three stages as follows:
- Step 1 – Thorough Evaluation: Enterprises need to assess carefully the applicability of RPA, compatibility with IT infrastructure, the implementation roadmap, and tasks to automate.
- Step 2 – Creating business use cases: Running tests on a process is crucial to evaluate the suitability of RPA.
- Step 3 – Prepare a comprehensive implementation strategy: Implementing on an enterprise-wide scale always entails certain risks. To minimize these risks, enterprises need to develop a comprehensive implementation strategy based on insights gained from the previous two steps.
Considerations when applying RPA
When deciding to apply RPA, businesses should consider the following issues:
- Choose RPA products based on feature comparison and cost: There is a variety of RPA products on the market with different features, costs, and interfaces. It is necessary to conduct thorough research and comparison between products to make the most appropriate choice.
- Consider the scope of business tasks using RPA: Enterprises can apply RPA to many tasks as long as they are process-oriented, but careful consideration is crucial.
- RPA is a tool to support both humans: There is no need to worry that RPA will replace humans. Instead, it is designed to support humans in performing time-consuming manual tasks, allowing them to focus on more important jobs.
Unveiling the future trends of RPA
Deloitte’s Global RPA Survey 2028 found that by the end of 2025, RPA will reach almost universal adoption.
It is increasing continuously, with the global market rising at a considerable rate of 40.6 % CAGR a year, and is likely to reach $25.66 billion by 2027, according to Grand View Research. The growing implementation of automation across diverse sectors to optimize business processes and enhance operational effectiveness stands out as a significant motivating factor.
What are the trends in RPA: 2024 predictions
In 2024, the RPA market will shift due to several rising trends.
- Generative AI with RPA-based
- Intelligent Automation
- Cloud-based RPA
- Low-code and no-code platforms
- Citizen developers
- RPA Migration
- Human and bot collaboration
Read more: Top RPA Trends And Forecasts For 2024
The role of RPA in digital transformation
Gartner’s research defines digital transformation as the process of leveraging digital technologies and capabilities to transform or create new business models.
Enhancing operational efficiency stands as a key objective for enterprises amid digital transformation, and this is precisely where RPA steps in to revolutionize operations. Offering numerous business advantages, RPA not only transforms the way employees carry out tasks but also aids businesses in embracing digital evolution. By deploying the capabilities of RPA across various departments and functions, businesses can effectively address the operational hurdles that often accompany digital transformation endeavors. Furthermore, RPA offers sophisticated big data analysis functionalities, enabling businesses to gain insights into patterns and workflow performance. From this invaluable information, companies can make informed, data-driven decisions and seamlessly integrate digital strategies.
Without RPA, the digital transformation process is not truly feasible. Undoubtedly, RPA is the catalyst for significant change, opening up and creating conditions for expanding digital transformation strategies.
The difference between RPA and AI
Similar to RPA, AI is also a technology that can leverage digital transformation. However, these technologies have several differences as follows:
| Criterion | RPA | AI |
| Definition | Mimic human behavior when performing tasks | Mimic intelligent behavior – thinking and learning to adapt to a specific environment |
| Goal | Support humans in performing repetitive manual tasks to save time, and costs, and allow humans to focus on more important tasks | Allow bots to operate intelligently like humans |
| Use cases | Used in business models, helping companies reduce personnel costs, time, etc. For example: order processing, invoice processing, payroll management, etc. | Implemented in various areas of life, such as cybersecurity management, automatic car control, speech-to-text conversion, etc. |
| Data type | Structured data | Structured, unstructured, semi-structured data |
| Decision-making ability | No decision-making ability | Can make decisions and predictions |
The combination of RPA and AI
While there are differences, RPA and AI are both technologies developed to complement each other. AI enhances RPA’s flexibility and efficiency while RPA serves as a stepping stone for AI. Significantly, the convergence of RPA and AI enables the execution of numerous complex tasks.
Besides, AI provides the logical thinking for actions that RPA carries out. Accordingly, combining AI and RPA allows for the expansion and improvement of access because AI can handle various types of unstructured data in complex manual processes. Meanwhile, RPA collects data, and AI maps the data for interpretation and detailed analysis. The decision-making capability of AI allows the automation process to become faster or automate more complex processes.
akaBot – Your reliable RPA partner
As part of the FPT ecosystem, akaBot is a pioneering automation solution in Vietnam. Furthermore, the solution has been recognized for its capabilities by leading global review platforms such as Gartner Peer Insight, G2, and Everest PEAK Matrix…Up to now, akaBot has conquered 3,900 businesses in 21 countries worldwide in every major market such as the EU, US, and ME.
TPBank (Tien Phong Bank) is a partner that has chosen akaBot’s solution with confidence. It is a prime example of a bank with the most robust RPA application, achieving an impressive go-live speed of 5 bots per week, earning The Asian Banker’s award for “Best Process Automation Bank in Vietnam” in 2020.
Until now, this bank has deployed nearly 300 virtual robots based on the akaBot platform in transaction processes, saving hundreds of personnel, and applying AI technologies, and virtual assistants… to ensure a seamless customer experience. This aims at digitization, intelligent automation, and process optimization.
akaBot –Companying your RPA journey
akaBot’s goal is to help businesses both domestically and internationally actualize the automation vision and achieve operational excellence.
- One-stop shop solution: akaBot offers an end-to-end Intelligent Automation solution, integrating many intelligent technologies, including AI/ML, OCR, IDP, Process Mining, Task Mining, Computer Vision, Business Process Management Systems, eKYC to help businesses stay ahead of the competition and meet the evolving needs of customers.
- 24/7 efficient support, recognized by customers and the world’s leading IT solution evaluation organizations (G2, Gartner)
- Quick return on investment (after only 7 months, according to the G2 report)
- Fast implementation: PoC (Proof of Concept) within 1 week for the first process automation
Lastly, to learn more about how to harness the power of automation and unlock multiple benefits, contact us right away.
References
Automation with intelligence Pursuing organization-wide reimagination
What is robotic process automation (RPA)?
akaBot (FPT) is the operation optimization solution for enterprises based on the RPA (Robotic Process Automation) platform combined with Artificial Intelligence, Process Mining, OCR, Intelligent Document Processing, Machine Learning, Conversational AI, etc. Serving clients in 21+ countries, across 08 domains such as Banking & Finances, Retail, IT Services, Manufacturing, and Logistics…, akaBot is featured in “Voice of the Customer” for Robotics Process Automation” by Gartner Peer Insights, G2, and ranked as Top 6 Global RPA Platform by Software Reviews. akaBot also won the prestigious Stevie Award, The Asian Banker Award 2021, Everest Group’s RPA Products PEAK Matrix® 2023, etc.
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