RPA software market is expected to increase by more than 7% annually through 2027. Its value by 2027 is estimated to be $379.87 million.
To survive and thrive in this changing environment, companies need to not only analyze what their current IT needs are, but they also need to address what those needs will be in the future.
IRVINE, Calif. (PRWEB) March 03, 2021
The excitement in IT around Robotic Process Automation (RPA) is stronger than ever if the recent valuation of UiPath is any indication. One of the factors fueling this interest is how the current pandemic has made the move to digital more dire. Cost savings is another motivation. The need for business enablement is also becoming more critical.(1) For instance, the healthcare industry is playing a major role in the drive toward more RPA. Current estimates expect half of U.S. healthcare providers will invest in RPA over the next three years, as well as increasing their investment in Artificial Intelligence (AI) five-fold, from 4% today to 20% by 2023.(2) To survive and thrive in this changing environment, companies need to not only analyze what their current IT needs are, but they also need to address what those needs will be in the future.
“Companies need integrated solutions from an IT partner who can fill their strategic IT needs, including interim IT leadership and executive support. Especially important is overcoming obstacles created by the pandemic, such as in-person interviewing and hiring. The right partner will help meet a company’s business objectives, be in tune with their current staffing capabilities, limitations, needs and know their cultural impact,” said Mike McLaughlin, CIO and VP of Professional Services at Technologent, a global IT solutions provider.
The impact that RPA and AI can have on industries is staggering. Healthcare loses about $150 billion annually due to missed appointments because 88% of appointments are still made manually. Switching that repetitive administrative task to an RPA function not only eliminates errors but garners significant costs savings.(3) Overall, the RPA software market is expected to increase by more than 7% annually through 2027. Its value by 2027 is estimated to be $379.87 million, up from $182.8 million in 2019, making it a major IT growth sector.(4)
According to Technologent, given the complexities of today’s technological world, companies need a partner who can fill in the gaps and provide the right person for the right job, while addressing the shifting nature of the IT industry. Technologent uses a number of internal techniques first to evaluate a client’s existing talent to ensure they have the best candidate and the best candidate strategy. Engineers do a deep technical dive into a client’s environment and a candidate’s ability, in addition to maintaining an ongoing relationship with the engineering staff who can provide backup and second-tier support as needed. The goal is to be thoughtful and not only help a client fill an immediate need but also to counsel the client to think about the future. That could mean shifting an internal resource to a new or more challenging role, solving a short-term need and fitting in with a more long-term strategy while creating the most value—for today and for the future.
By making a client’s process more efficient and helping them focus on where defects originate and where the opportunity for defects originate, an IT solutions firm should be able to create a more stable and predictive process that provides cost and repositioning benefits. This kind of shift-left approach starts by having a conversation with customers about the advantages to repositioning the knowledge of their existing employees. Doing this makes an employee more valuable and allows the company to retain the internal knowledge that employee has gained over the years.
The focus needs to be on automation—including RPA—as well as cybersecurity and data analytics. The very essence of employment is changing across companies as remote workforces become more prevalent. Digitization has transcended IT roles as employees have had to assume a more technological mindset inasmuch that roles once thought of as “operations,” now look more like IT functions. Yet, the common denominator continues being the company utilizing more complex technology to achieve their business strategy. As a result, RPA is becoming a more in-demand skillset, as well as positions in security and cloud transformation.
According to Technologent, IT solutions, such as their Resident Consultancy, need to provide technical resources for a variety of skill sets including network support, data center stand-up and support, project management, software development and application support, database administration, and more. Subject-matter experts tap a deep network of IT talent to find the right fit for contract, contract-to-hire and direct-hire positions. The correct IT partner, explains Mclaughlin, maintains an extensive list of partners with specialized skill sets that can provide dedicated access to engineers for assistance with complex problems. In addition to robotic process automation, business intelligence, data intelligence, security, cloud automation and cloud transformation are currently in high demand; however, the nature of these roles continue to change at a rapid pace.
“Companies need to pay attention to their IT departments now more than ever. Our job as a solution integrator is to help clients capitalize on current and future trends,” McLaughlin said.
About Technologent:
Technologent is a Global Provider of Edge-to-EdgeTM Information Technology Solutions and Services for Fortune 1000 companies. They help companies outpace the new digital economy by creating IT environments that are fast, flexible, efficient, transparent and secure. Without these characteristics, companies will miss the opportunity to optimally scale. Technologent mobilizes the power of technology to turn vision into reality, enabling a focus on driving innovation, increasing productivity and outperforming the market. Visit http://www.technologent.com.
1. Vellante, Dave; “Robotic process automation remains on a hot streak as UiPath blazes the trail”; Silicon Angle; February 21, 2021; siliconangle.com/2021/02/21/robotic-process-automation-remains-hot-streak-uipath-blazes-trail/
2. “Gartner Says 50% of U.S. Healthcare Providers Will Invest in RPA in the Next Three Years”; Gartner; May 21, 2020; gartner.com/en/newsroom/press-releases/2020-05-21-gartner-says-50-percent-of-us-healthcare-providers-will-invest-in-rpa-in-the-next-three-years#
3. Gier, Jamie; “Missed appointments cost the U.S. healthcare system $150B each year”; Healthcare Innovations; hcinnovationgroup.com/clinical-it/article/13008175/missed-appointments-cost-the-us-healthcare-system-150b-each-year; April 26, 2017.
4. “Global Robotic Process Automation (RPA) Software Market 2021:The Next Booming Segment In The World”; KSU The Sentinel Newspaper; February 23, 2021; ksusentinel.com/2021/02/23/global-robotic-process-automation-rpa-software-market-2021the-next-booming-segment-in-the-worldblue-prism-limited-nice-kufax-inc-pegasystems-ntt-advanced-technology-corporation/
