{"id":2099,"date":"2019-11-28T02:32:08","date_gmt":"2019-11-28T02:32:08","guid":{"rendered":"http:\/\/kusuaks7\/?p=1704"},"modified":"2024-02-20T11:43:09","modified_gmt":"2024-02-20T11:43:09","slug":"why-connected-rpa-matters","status":"publish","type":"post","link":"https:\/\/www.experfy.com\/blog\/ai-ml\/why-connected-rpa-matters\/","title":{"rendered":"Why connected RPA matters"},"content":{"rendered":"\t\t
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Connected RPA allows an enterprise to not only build and deploy a Digital Workforce quickly and easily but also ensure secure connectivity between digital workers and the rest of people, processes and systems.<\/strong><\/h3><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tBob and Zac, two digital workers employed by Singapore-based Oversea-Chinese Banking Corp. (OCBC) have done something extraordinary. Bob works in the secured lending team and is able to re-price home loans in just one minute, compared to the normal 45 minutes that it would take for any other employee. Thanks to this astonishing level of productivity, processing time for home loans restructuring has been reduced by 97%, as Bob can process more than 100 housing loan restructuring applications a day.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tZac on the other hand generates daily sales performance reports in just 12 minutes, something that would take a human employee more than two hours. The management team now receives the report at 9am daily, instead of at 4pm.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\nBob and Zac are not humans \u2013 they are powered by\u00a0Robotic Process Automation<\/a>\u00a0(RPA), which combines robotic\u00a0automation<\/a>\u00a0with\u00a0artificial intelligence<\/a>\u00a0(AI) to automate human activities for large enterprises. In turn, enterprises around the world are lining up to deploy these digital workers in their own businesses.\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tAccording to Gartner, RPA is the fastest growing segment of the global enterprise software market. RPA software revenues grew by 63% in 2018 to reach $846 million, and are further expected to reach $1.3 billion in 2019. Gartner also says that while RPA is transforming the enterprises across industries, its biggest adopters are banks, insurance companies, telcos and utilities.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tThere are two key reasons why banks and financial services companies have been the frontrunners of implementing robotic process automation (RPA) from the earliest days. First is regulatory compliance; the BFSI industry is among the most heavily regulated around the world and needs thorough compliance with myriad laws, policies and procedures laid down by central banks, governments, insurance and other regulators.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\nSecond is the pervasiveness of paperwork in banking workflows, which necessitates extensive and monotonous data entry. When digital workers take over data entry and other repetitive tasks, they not only reduce employee workloads and cut costs; but also guarantee 100% accuracy and thus full compliance.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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From RPA to Connected RPA<\/strong><\/h2><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tToday, RPA implementation is typically at the core of a modern enterprise\u2019s digital transformation initiatives as it can allow the business to reap the benefits of automation without sacrificing expensive investments in legacy systems. It is worth emphasizing that several existing legacy systems are not only mission-critical, they are also well-entrenched on account of being used by a large number of employees over several years or decades. The question thus arises: can RPA be implemented without expensive and extensive modifications to existing systems?\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tThe answer lies in the evolution of RPA to what we know as \u2018Connected RPA\u2019, a wholly new approach that is transformational because it is quick to implement and doesn\u2019t require any coding. In essence, Connected RPA brings forward new generation of digital workers who can access and read the user interface of legacy systems to interoperate and orchestrate any third-party application \u2013 just as any other employee would. For the first-time ever, the non-technical user is in charge of an IT project.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tThe new generation digital workers thus have universal connectivity capabilities built inside, which allows them to\u00a0learn\u00a0<\/em>intelligent automation skills through a broad ecosystem of complementary technologies. In other words, business users who don\u2019t understand IT can quickly train their digital workers to integrate with and utilise any new or existing application. They can also create automated processes in their existing applications using a drag-and-drop visual tool and pass it on to their digital worker to execute them.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tUltimately, Connected RPA allows an enterprise to not only build and deploy a Digital Workforce quickly and easily but also ensure secure connectivity between digital workers and the rest of people, processes and systems.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The future is autonomous<\/strong><\/h2><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tIntegrating Connected-RPA with AI and ML is already delivering results across various domains and uses cases. Insurance companies are using automated case handling and resolution for insurance claims, while banks are implementing automated anti-money laundering prevention in conjunction with blockchain technologies and business process management tools. For customer support, the integration of Connected-RPA with AI is enabling multilingual, automated e-mail processing for inbound customer inquiries. Other companies are testing AI tools to gauge sentiment analysis, intensity, and mood for customer support\u2013then automatically elevating requests to a customer representative.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tThe ability of Connected-RPA to work across ecosystems means that well-designed RPA tools can adapt to entirely new enterprise ecosystems being built around AI, ML, blockchain and other transformative technologies. In fact, it can be safely predicted that Connected-RPA will continue to evolve even as it gets better at delivering autonomous process automation in the future.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Can RPA be implemented without expensive and extensive modifications to existing systems? The answer lies in the evolution of RPA to what we know as ‘Connected RPA’, a wholly new approach that is transformational because it is quick to implement and doesn’t require any coding. In essence, Connected RPA brings forward a new generation of digital workers who can access and read the user interface of legacy systems to interoperate and orchestrate any third-party application.<\/p>\n","protected":false},"author":679,"featured_media":2890,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[183],"tags":[97],"ppma_author":[3464],"class_list":["post-2099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ai-ml","tag-artificial-intelligence"],"authors":[{"term_id":3464,"user_id":679,"is_guest":0,"slug":"suyash-dubey","display_name":"Suyash Dubey","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g","user_url":"","last_name":"Dubey","first_name":"Suyash","job_title":"","description":"Suyash Dubey is Head of Marketing India at Blue Prism."}],"_links":{"self":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/2099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/users\/679"}],"replies":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/comments?post=2099"}],"version-history":[{"count":6,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/2099\/revisions"}],"predecessor-version":[{"id":36051,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/posts\/2099\/revisions\/36051"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/media\/2890"}],"wp:attachment":[{"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/media?parent=2099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/categories?post=2099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/tags?post=2099"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.experfy.com\/blog\/wp-json\/wp\/v2\/ppma_author?post=2099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}