Robotic process automation prevents human error and cuts labor costs significantly. In one case, a major financial institution and high-volume consumer bank employed 85 robots to perform 14 different processes that handled nearly 1.5 million calls in a given year. This enabled the bank to increase capacity which equaled almost half the cost of hiring additional personnel in just over 30 percent of the normal cost of recruitment. Robotic process automation has been growing exponentially, reaching its highest annual growth rate of 21% between 2021. There are several factors driving this trend including increasing returns on investment, reduction in operational overhead and increased productivity.
Robotic process automation is now a staple offering businesses a straightforward and affordable way to automate business procedures. Most industries are using computers and software programs to perform most or all of their business process and customer service tasks. However, the increased use of computers and smart phones with mobility capabilities has created a new segment known as “Software as a Service (SaaS)”. In the past, SaaS was limited to a handful of specific industries, but advancements in communications technology and the lower cost of computing power have enabled almost every business to offer some form of SaaS to their customers. In this article we will explain what is meant by SaaS, how it differs from traditional software solutions, and how SaaS can help your business.
The notion behind SaaS is to provide automated services that leverage computer technology, software and connectivity to reduce the number of human errors and cut labor costs. The term “robotics” refers to the idea that these systems are capable of doing tasks that previously required the expertise of a highly trained technician. The idea is not entirely new. Digital transformation is the key to automated systems that can replace repetitive tasks in many manufacturing processes. Digital transformation involves the idea that tasks can be automatically linked together via a series of communication protocols to increase productivity and minimize labor costs. These protocols include e-commerce, online ordering, inventory tracking, data collection, and other tasks that were manual or difficult to perform in the past.
Robotic process automation is a set of technologies that combine state of the art computer science and software that make it possible to create and run automated manufacturing processes. The goal of this technology is to eliminate the majority of the labor that is required in most businesses. This technology is typically used to improve the quality and reliability of human intervention and to improve productivity. It also aims to eliminate or reduce the amount of human errors that occur during the repetitive process of manufacturing.
In order to understand how SaaS differs from traditional software, one must understand exactly how digital transformation and robotics work together. In order to optimize the efficiency of robotic process automation, both kinds of technology must work hand in hand. Digital transformation encompasses the idea that computers can replace nearly all of the routine tasks in manufacturing. The systems are able to monitor and control the production process from start to finish, and are capable of predicting consumption levels and other key factors to improve efficiency. Robotics are used to enable the design of these systems, as well as to allow them to communicate with one another and with end-users such as customers.
By combining these two technologies, we can improve the quality, safety, and efficiency of manufacturing. SaaS offers a way to eliminate most of the human error associated with repetitive tasks in manufacturing and will allow machines to do most of the work. It is likely that within a decade, most manufacturing tasks will be performed by fully automated machines. This will help to improve the quality of the materials and provide for a safer environment for everyone.