The use of Robotic process automation (RPA) is rapidly growing across the globe. South-East Asia has become the hub of RPA software companies. Businesses across the region are using this technology to kick-start advancements, streamline their operations, and make themselves ready for a tech-heavy future. Robotic Process Automation will reduce time-consuming repetitive manual tasks hence making scope for workers to be more productive. A study by McKinsey stated that an estimated 50% of work activities performed in South-East Asia could be automated by the implementation of RPA. Robotic Process Automation can potentially reduce costs, increase productivity, and increase job satisfaction.
There are a few challenges before you could reap the benefits of these emerging technologies. As in the case of RPA, ensuring effective implementation & integration of RPA into the business is pivotal. Then comes developing & training employees to gain expertise and support RPA systems. Businesses across the region have identified that accurate deployment of RPA at a large scale will usher in success. It also requires an understanding of the technology and its capabilities.
Robotic Process Automation is an evolving technology based on the idea of automating conventional business processes. RPA uses software robots or artificial intelligence (AI) systems to transform your business. To simplify it further, RPA imitates how an employee/worker performs a task and learns to carry it out on its own. Once, the bot is ready it will only require minimum manual supervision. One such example is the automated emails/ texts that we receive from various businesses. Bots can also perform advanced tasks like tracking data, orders, etc.
Robotic Process Automation can also operate as an automated link between legacy systems, hence removing the exhausting procedure of updating several systems. RPA can also be used for processing payroll, shipment scheduling, on boarding employees/customers, monitoring prices among many other things.
South-East Asia a ‘Perfect Match’
A study conducted by McKinsey shows that countries like Malaysia, Thailand, and Indonesia have a higher scope for technologies like RPA. Enterprises throughout the region are willing to invest in such emerging technologies which make it a prime interest for tech companies to set-up bases across the region. The many benefits of Robotic Process Automation fit hand-in-glove with the fast-paced business environment in Southeast Asia. Large Corporations, small – medium-sized businesses, and start-ups form the market structure particularly in this region, which make it an ideal location for digital & tech transformations.
However, many companies face a challenge in implementing RPA technologies, creating a space for tech companies to provide RPA services and expand their market shares. Look at this instance from Malaysia, where a company deployed RPA system to process payments. Employees already working in the company could only process 2000 invoices per day, but with the RPA system in place, the time to process invoices was potentially reduced by 75% making the staff engage in other important tasks. The region is also witnessing a steep fall in productivity and stagnating growth, as a result of which tech companies providing RPA services become the need of the hour.
RPA systems should be applied based on a thorough analysis of existing systems and evaluating other new technologies on the radar. RPA is not a one-size-fits-all technology and hence different businesses may require different solutions, to achieve better results.