A new wave of robotic software is revolutionizing the way businesses approach staffing and changing the services demanded of outsourcing providers, according to a new research report, “Robotic Process Automation (RPA): Driving the next wave of cost rationalization” from Mindfields Consulting.
RPA allows tasks that were previously conducted by humans to be done by increasingly intelligent software that learns on the job. The RPA market is predicted to grow to $5 billion by 2020.
The study explains how RPA is getting better, smarter, and cheaper, and evaluates the impact on clients’ options and disruption to major outsourcing vendors’ business models. Cognizant, Dell, EXL, Genpact, HP, IBM, Igate, Infosys, Sutherland, Tech Mahindra, Wipro, and WNS are among the companies that contributed to the study.
Mindfields’ study found that:
- 64% of participants agreed that RPA would reduce human based pricing (HBP) and non-linearize their business model.
- 42.9% of respondents have already seen a reduction of more than 20% of human efforts due to RPA.
- Efficiency is as compelling an incentive for RPA as cost.
- IT and business process outsourcing service providers are looking to embed advanced RPA software into their offerings.
“This research has been undertaken to address the need for independent advice in such an important new area,” said Mohit Sharma, Director, Mindfields. “I am thankful to all the service providers for providing 42 honest case studies of RPA in action, in client situations, included in the report.
“The report should reduce the decision life cycle for both the buyers and client organizations,” Sharma added. “It will assist them to make faster and better decisions. RPA is going to be a journey for both clients and service providers, so the actionable steps outlined should guide customers and help service providers to assess their position in the market landscape and fine-tune their strategies.”
The study also includes:
- How RPA is different from conventional automation
- What back/front offices processes have been/can be considered for RPA
- What is the optimal target operating and pricing model
- Road map for RPA implementation
- Case studies across verticals
Visit Mindfields’ research page to learn more about the study.
