Automation is good, so long as you know exactly where to put the machine - business philosopher Eliyahu Goldratt.
This very purpose of automation today is fulfilled by Robotic Process Automation (RPA). What is RPA? It is a software platform that carries out tasks by following a flowchart (making rule-based decision) no matter how complex, as long the process is computer-based and does not require any human judgement or interpretation.
With the help of RPA tools one can create bots. With RPA, software users create software robots, or “bots”, that can learn, mimic and execute rule-based business processes. The RPA tools are being used in the insurance, banking, healthcare, manufacturing and public sectors as well as life science as each of these industries adopt marketing automation. According to Fortune Business Insights, the RPA market size was USD 1.29 billion in 2020.
UiPath is a worldwide software company for RPA founded at Romina by Daniel Dines and Marius Tîrcă and Headquartered at New York city. They compete with Automation Anywhere and Blue Prism. UI-Path supports both desktop and web-based automation.
BluePrism is an MNC that provides RPA solutions to develop marketing automation processes to improve the efficiency and effectiveness of organisations. This, in turn, helps to automate processes in an agile and a cost-effective manner. This tool works perfectly for medium and large organisations and Blue Prism is headquartered at 2 Cinnamon Park Crab Lane Warrington, UK and was founded by David Moss and Alastair Bathgate in 2021.
Automation Anywhere is one of the pioneer competitors amongst the RPA technology. It supports both desktop and web-based automation. Founded in 2003, the company is headquartered in San Jose, California.
WorkFusion is a leading vendor of Intelligent Automation solutions combining AI, RPA and machine learning capabilities for business process automation. WorkFusion works on AI Bots called RPA without using long codes in the program. Work Fusion also provides pre-trained bots such as Anti-Money Laundering and intelligent solutions for Account opening & KYC automation processes.
Pega or pegasystem Inc is an American software that helps enterprises make better decisions. Founded in 1983, Pegasystems develops software for customer relationship management (CRM), digital process automation and business process management (BPM) tools that consolidate architecture based on a business rule management system.
The above 5 RPAs are widely used tools to automate mundane tasks. The impact of Covid-19 on businesses has made robotic process automation important globally.
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