For starters, RPA or Robotic Process Automation is the technology that uses a robot or computer software to emulate a certain set of actions that a human will perform in order to execute a business process.
RPA robots interpret, communicate, and trigger responses with other systems in a similar way as humans do. Even better: an RPA robot doesn’t sleep, makes no mistakes, and costs a lot less than an employee.
This is the reason perhaps why organizations which utilize RPA effectively are able to witness a 40 percent reduction in average handling time, and around 80 percent reduction in processing costs.
This pretty much explains as to why enterprise RPA market is on a steady rise. According to the estimates, the enterprise RPA market is growing readily at a CAGR of 65% from nascent in 2016 to $3 billion in 2021. Forrester predicts that there will be more than 4 million robots taking care of office and administrative work along with sales and related tasks by 2021.
As more and more companies are openly embracing the idea of employing RPA, the biggest challenge is the total cost of ownership, TCO. Lowering the TCO will justify the ROI to a large extent. However, this is one task which is better said than done. Why? This is because TCO is entirely dependent on the software and hardware costs of RPA projects. The software costs include the costs of the operating system, bots license, virtual machines, and the likes. On the same line, the hardware costs include the costs of machines, server, database, and similar things.
Calculating the Total Cost of Ownership of RPA Implementation
Although TCO of RPA implementation is highly dependent on hardware and software costs, these are not the only determining factors. Other aspects that play an important role include:
[Also Read: Selecting The Right RPA Tool, Doing It Right The First Time ]
Reducing the Total Cost of Ownership of RPA Implementation
Thankfully, there is little that you can do to reduce the total cost of ownership of RCA deployments to ensure a better ROI:
It is necessary to ensure that your RPA tool makes use of multi-threading for data processing and this could reduce the turnaround time significantly by making data processing 10 to 1000 times faster. Faster processing not only helps an RPA to complete a job faster but it also boosts its productivity by allowing it to accomplish more tasks within the assigned framework.
The Wrap Up
Contrary to a popular belief, organizations do not need to introduce hefty changes to their IT infrastructure to accommodate RPA in their workflow. Perhaps, one of the best parts of RPA is that it can work with your existing infrastructure and enhance its capabilities effortlessly. Overall, RPA bots work in the system in the same way as a human user does. Organizations can work on integrating RPA bots with their existing infrastructure and work in advance to remove any probable roadblocks and ensure successful rollouts.
Lowering the overall TCO can boost your ROI significantly. Simply follow the tips mentioned above, and reduce the costs related to hardware, bot licenses, and operating system drastically.
Originally posted on AutomationEdge: Link
RPA robots interpret, communicate, and trigger responses with other systems in a similar way as humans do. Even better: an RPA robot doesn’t sleep, makes no mistakes, and costs a lot less than an employee.
This is the reason perhaps why organizations which utilize RPA effectively are able to witness a 40 percent reduction in average handling time, and around 80 percent reduction in processing costs.
This pretty much explains as to why enterprise RPA market is on a steady rise. According to the estimates, the enterprise RPA market is growing readily at a CAGR of 65% from nascent in 2016 to $3 billion in 2021. Forrester predicts that there will be more than 4 million robots taking care of office and administrative work along with sales and related tasks by 2021.
As more and more companies are openly embracing the idea of employing RPA, the biggest challenge is the total cost of ownership, TCO. Lowering the TCO will justify the ROI to a large extent. However, this is one task which is better said than done. Why? This is because TCO is entirely dependent on the software and hardware costs of RPA projects. The software costs include the costs of the operating system, bots license, virtual machines, and the likes. On the same line, the hardware costs include the costs of machines, server, database, and similar things.
Calculating the Total Cost of Ownership of RPA Implementation
Although TCO of RPA implementation is highly dependent on hardware and software costs, these are not the only determining factors. Other aspects that play an important role include:
- Cost of automation development
- Cost of change
- Cost of management
[Also Read: Selecting The Right RPA Tool, Doing It Right The First Time ]
Reducing the Total Cost of Ownership of RPA Implementation
Thankfully, there is little that you can do to reduce the total cost of ownership of RCA deployments to ensure a better ROI:
- Multi-threading for data processing
It is necessary to ensure that your RPA tool makes use of multi-threading for data processing and this could reduce the turnaround time significantly by making data processing 10 to 1000 times faster. Faster processing not only helps an RPA to complete a job faster but it also boosts its productivity by allowing it to accomplish more tasks within the assigned framework.
- Parallel workflow execution on one RPA bot
- Running multiple RPA bots on the same virtual machine
The Wrap Up
Contrary to a popular belief, organizations do not need to introduce hefty changes to their IT infrastructure to accommodate RPA in their workflow. Perhaps, one of the best parts of RPA is that it can work with your existing infrastructure and enhance its capabilities effortlessly. Overall, RPA bots work in the system in the same way as a human user does. Organizations can work on integrating RPA bots with their existing infrastructure and work in advance to remove any probable roadblocks and ensure successful rollouts.
Lowering the overall TCO can boost your ROI significantly. Simply follow the tips mentioned above, and reduce the costs related to hardware, bot licenses, and operating system drastically.
Originally posted on AutomationEdge: Link