Robotics and automation are disruptively transforming the way businesses function. Presently, more than half of the BPO (Business Process Outsourcing) service providers across the globe are engaged into mere replication of client processes, at reduced costs. However, the rapidly advancing technological environment is imposing constant pressure on the BPOs, as their conventional methods pertain to obsolete over the coming years. In addition, the end-clients are also considering automation of processes, while selecting BPO service provider. Owing to these factors the BPO service providers are witnessed investing into robotic automation of various repetitive processes.
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In past few years, the BPO service providers, who have already implemented RPA solutions, have attained significant improvisations in their productivity levels and experienced noteworthy gain in their financial stats. This has further encouraged several other BPO service providers to implement RPA at an early stage in order to identify future growth opportunities, reduce debts and evade unwanted costs. In the year 2014, UiPath and Capgemini began to work on an advanced RPA technology, which after a year had reaped into cost reductions exceeded by 60 to 70%. This trend had received positive response from other BPO service providers.
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In coming years as RPA innovation advances, more and more BPO, shared services and captive operation initiatives are expected to become targeted for minimal or no human involvement. They would be likely to retool their business models in order to reflect higher service levels such as cost reduction, and enhanced cycle speed. This refurbished business model of the BPOs will have to incorporate RPA products. These factors are expected to drive South America Robotic Process Automation market.
RPA Cost benefits attracting the buyers
RPA provides its users with an ability to in-source and off-shore RPA managed services, which further enables them to regain governance over process without any surplus cost. The cost incurred might even be lesser than off-shore process without RPA. Furthermore, the buyers are also attracted towards the robust return on investments offered through RPA deployments.
The implementation of RPA has proven to provide its buyers with enhanced predictability of costs, and refine overall management of cost, subsequently allowing them to recognize the opportunity to deploy the staff on higher and strategic value roles. Further, as RPA gradually shift to mainstream, several client organizations are expected to find it more comfortable in transiting from traditional incumbent service providers to modern RPA capabilities.
Another factor that is significantly influencing the buyers to invest in RPA driven deals is the rising pressure on them to sustain profitability, regulatory issues and management of increasing cost of offshoring. These factors are expected to drive South America Robotic Process Automation market.
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Increased demand for RPA software solutions
Although RPA is at its peak of hype cycle, the advances that are taking place in the technology along with notable success rate showcased by the early adopters has significantly increased the demand for more disruptive RPA software solutions among the large enterprises. The RPA software and service providers have been constantly directing their efforts towards innovating their existing product offerings. These initiatives taken by the market players aims to overcome the key existing challenges in the South America Robotic Process Automation market. The continuous evolution in the product innovation is thus attracting significant interest from the various end-users.
For instance, recently, UiPath along with Humley introduced a chat and speech driven control for enterprise RPA. Apart from this other leading market players like Automation Anywhere and Blue Prism are also making noteworthy investment for stimulating innovation in their offerings. In future years, the South America Robotic Process Automation market is expected to experience several advancements in the technology, subsequently leading to up surged demand for RPA solutions not only in large but also in small and medium enterprises. Thus, these factors are expected to drive South America Robotic Process Automation market.
South America Robotic Process Automation Market – Component Insights
The South America Robotic Process Automation market by component has been segmented into solution and services. In South America Robotic Process Automation market, services segment mainly comprises of training and professional services. The professional services segment further includes various services such as consulting, support and maintenance, and system integration. In South America Robotic Process Automation market, the solution segment holds more share in the year 2019 due to recurring license cost of RPA software. The solution facilitates improvised data security, business efficiency and effectiveness by impersonating human activities and automating routine processes across varied business functions without hampering the on-going system and infrastructure.
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