“The technologies that can drive enormous improvements for transaction-oriented processes across every sector – particularly in banking and finance and other heavily process-driven sectors – already exist. “Using just one or two types of automation without integrating the tech that will help achieve your goals is at best short-sighted, and at worst a waste of time and money,” said Neil Murphy, Global VP at ABBYY. “We will continue to seek to use the latest technologies, including artificial intelligence (AI) and machine learning, to make our business as efficient and competitive as possible,” he added. “Collaborative work with ABBYY is part of our continued commitment to invest in technology to transform our finance function,” said Tony Bickerstaff, CFO at Costain. However, ABBYY customer Costain, which integrated ABBYY’s technology with RPA in an end-to-end solution – that can fetch an invoice, capture, identify and extract the essential data within it, then hand this over to the RPA bot to post an invoice into the ERP system – is seeing the benefit of deploying these technologies together. However, only 50% of businesses with more than 5,000 employees are using the tech, dropping to 36% for businesses with 500-4,999 employees. 4 in 5 large businesses (79%) have seen increased efficiency since implementing RPA, and 71% have become more productive. Again banking and finance lead the way, with 35% of businesses deploying both technologies, compared to just 2% in the legal sector.ĪBBYY is calling on large businesses to lead the charge for businesses to make the most of their automation investments. 33%) and 57% increasing their market share (vs 48%). 39% of those using RPA without content-centric process automation) while 49% have achieved business transformation (vs. This combination also led to improved productivity for 51% of businesses (vs. The research also found that combining RPA with content-centric process automation drives even greater results, with 71% of businesses who have deployed both technologies growing their revenue – compared to just 37% for businesses who have invested just in RPA. This is despite the huge opportunities RPA brings: a majority of RPA adopters saw improved efficiency (55%), getting ahead of the competition/increasing their market share (52%), and revenue growth (52%), with productivity gains (44%) and business transformation (40%) also realised. Some sectors have barely dipped their toe, with the legal profession for example only seeing 6% adoption. The banking & FS sector leads the way, with 38% of businesses investing in RPA, while manufacturing comes in second place with 23%. RPA is particularly strong on time to ROI – 82% of businesses saw a return on their RPA investment within a year, with 30% seeing a return of at least twice what they invested. However, RPA is bringing unparalleled benefits. While automated systems and AI come out as the most popular forms of automation, RPA is the least adopted, with only 24% of UK businesses investing in the technology.
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While 19 in 20 businesses have deployed some form of automation, only 1 in 20 use the full stack, meaning most businesses are missing out on the ‘secret weapons’ that could deliver the most ROI for their business.
Combining complementary tech behind revenue growth for 71% of UK businesses.This comes despite over 80% of businesses seeing ROI on RPA within a year.
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