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Report: Software robots can reduce operating costs by 90%

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Report: Software robots can reduce operating costs by 90%

Is the Brave New World upon us?

According to a study by management consultancy Kinetic Consulting Services, cost savings of approximately 90% can be achieved when a business process performed by a full-time equivalent human is replaced by a software robot.

Robotic Process Automation, or RPA, is the automation of back and front office processes that are largely rules-based, structured and repetitive. The automation replaces or augments humans normally performing the task with "robotic" equivalents. These are software robots and not physical ones.

Process automation has recently achieved a level of maturity and is building momentum in the business world. This has been driven by the release of multiple sophisticated software solutions not previously available and also by the growing demand for organizations to optimize operating costs and to increase quality of services.  

“RPA has been cited as an example of what economists are calling, the 'Fourth Industrial Revolution'".

Unlike their human counterparts, software robots make less mistakes, don't complain and work 24x7 if required.

"Our research explored the range of solutions available and real-world examples of how organizations were using them, and also the benefits they were getting from the implementation,” said Joe Tawfik, Kinetic CEO and author of the report.

“There are a number of commercial and strategic considerations that need to be made when considering an RPA implementation. Not every organization will be ready to introduce a digital workforce just yet. However, our report clearly concludes that RPA has to be on the corporate agenda for 2016 and should be given serious consideration.

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