Top RPA trends of 2021

In 2020, robotic process automation (RPA) made significant progress in a range of sectors, including retail, healthcare, consumer goods, manufacturing, BFSI etc. Many companies have chosen RPA to automate repetitive work and generate more output with less resources due to the unprecedented challenges posed by the COVID-19 pandemic.  

According to a study by Gartner in September 2020, global RPA software revenue will continue to grow, hitting $1.89 billion in 2021. This is almost a 20% improvement as compared to 2020. Furthermore, it does not appear to be a passing trend as the popularity of robotic process automation is expected to grow in double-digits through 2024. 

When RPA is combined with artificial intelligence, intelligent or cognitive automation is born, which allows automation to handle highly complex processes and tasks thereby expanding the spectrum of activities that can be automated. Here are some of the top RPA trends for 2021: 

1. Smart or intelligent automation 

In 2021, smart automation is expected to remain at the forefront. Smart process automation or intelligent automation is an extension of robotic process automation that integrates bots' machine learning capabilities to enhance their ability to deal with ‘if-then’ rules. It enables RPA bots to use artificial intelligence, big data, and machine learning to function like humans and imitate their behaviour. 

2. Rise of different RPA vendors 

In the last year, the market was exploding with hundreds of vendors providing RPA services, all promising to help businesses save precious man-hours and boost ROI. In 2021, while the number of RPA vendors will continue to  rise, they can be divided into two categories: quick-fix providers and strategic service providers. The former will sell quick-fix bots that integrate into the system easily and provide immediate results, while the latter will concentrate on providing highly focused strategic business transformation insights for re-engineering processes. By 2025, several easy-to-deploy RPA bots are expected to be introduced that will have pre-constructed functionalities (Analytics Insight). 

3. RPA bot for every employee 

Companies are likely to formulate a plan that provides an RPA bot for each employee, as work from home becomes the new norm in 2021. This doesn’t mean that humans will be replaced by bots, instead, their capabilities will be enhanced, allowing them to be more productive by providing immediate assistance and eliminating repetitive tasks. 

4. Several other industries will adopt RPA 

Robotic process automation (RPA) is already on the roll in the BFSI industry, and since the banking departments have massive quantities of routine and repetitive activities, they are ideally suited for automation. This highlights that the popularity of this technology isn’t something which is waning anytime soon. Additionally, other business functions such as HR and customer service are increasingly using RPA to increase their productivity, reduce costs and increase ROI.  

5. Increased focus on employee experience 

Employers will be able to enhance employee experience through RPA technology in 2021, particularly while working from home. Employee morale, performance, and engagement are likely to benefit from automation. 

Conclusion 

RPA is already thriving and helping businesses reap the benefits of automation. The best part is, getting started with RPA is not that difficult. Initially, companies can get started by identifying processes that can be automated, identifying RPA service providers and determining what business objectives they will help achieve. Outsourcing the implementation process of RPA can help companies concentrate on their core business as well as leverage the benefits of RPA.