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
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
Finance & Banking
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.