Robotic Process Automation (RPA)
What is Robotic Process Automation (RPA)?
Robotic Process Automation (RPA) software allows the capture and interpretation of a business process (which involves existing applications for transaction processing, data manipulation, response triggering and communication with other digital systems), in a repetitive, audited and controlled manner.

Gartner predicts that “by 2020, end-user spending on robotic process automation software will reach $1 billion, growing at a compound annual growth rate (CAGR) of 41% from 2015 through 2020.” The forecast says that “by 2020, RPA tools will have evolved to include more types of functionality, such as AI software, but will experience strong downward pricing pressure.” In addition, “by 2020, 40% of very large global organizations will have adopted an RPA software tool, up from an estimated less than 10% today.” Some industries, like financial services and retail, have taken the lead with RPA, while manufacturing and healthcare firms have recently increased traction.

Benefits of RPA adoption for enterprises.

Overall Cost Reduction

Speed & Productivity

Accuracy & Compliance

Scalability & Flexibility

Removal of Non-value-add processes

There are a variety of benefits that are driving enterprises towards RPA (see figure 2). Most significant are the potential cost savings: up to 55% for deterministic, rule-based processes. Speed of execution,accuracy, and compliance are key RPA benefits for organizations, in particular for financial services firms.

Organizations that combine RPA with additional digital technologies, such as dynamic workflow, machine learning, and/or natural language processing (NLP), are realizing greater value by achieving intelligent automation. A commercial financial services firm, for example, has applied these technologies to its underwriting process for loans. NLP reads an applicant’s financial statements and any information in the public domain.

RPA Use Cases

Industries

BPO

Finance & Banking

Insurance

Healthcare

Telecom

Manufacturing

Who We Are

Eifer Corp, started in 2015 is a woman owned small business with certified SBA 8(A). We provide optimized IT and Analytics solutions to improve clients’ return on investment (ROI). We help our clients overcome the challenges posed by constant advances in technology, heightened regulations, and demands for greater transparency by providing high-quality enterprise solutions. We encourage a culture of excellence in every project promoting a strong sense of relationship with our clients. Our experienced team works with a vision to enable our clients with solutions that lead better processes and better decision making.

ADDITIONAL INFORMATION

NAICS CODES

511210, 518210

541611, 519190

541511, 541512

541519

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