Democratize your business process automation with Robotic Process Automation (RPA)
by Marcom, on Aug 14, 2019 6:12:06 PM
Estimated reading time: 3 mins
As per Gartner, RPA tools link applications, eliminating keying errors, speeding up processes and cutting costs. As a market, RPA is still relatively small, with a total revenue of slightly less than $850 million in 2018. However, RPA is the fastest-growing software subsegment officially tracked by Gartner, with year-over-year growth of more than 63% in 2018. It is estimated that RPA is soon about to reach a global revenue of $1.3Bn.
With businesses opting for democratization of business process automation, new opportunities and challenges are coming to the fore requiring that the RPA software be flexible, agile and nimble. The need for orchestration between the legacy and the modern systems, without increasing the technical debt, and handling the periodic increase in workloads has always been the main theme for digital transformation. Keeping this in mind, RPA vendors are coming up with new use cases while maintaining people at the fulcrum.
Datamatics TruBot suite for business automation:
Gartner's 2019 Magic Quadrant for Robotic Process Automation Software has named Datamatics a Niche Player. TruBot is one among Datamatics’ in-house capabilities for Digital Transformation, including RPA, Intelligent Automation, and Artificial Intelligence (AI)/Machine Learning (ML). It enables businesses streamline as well as jumpstart their Digital Transformation journey.
As a business enabler, TruBot facilitates:
- End-to-End Automation: TruBot suite comprises of TruBot (RPA product), TruCap+ (Intelligent Data Capture), and TruBot Neuro (Intelligent Automation), which facilitates integrated automation and effective handling of unstructured data on scanned documents with more than 99% accuracy. Datamatics' TruAI (AI engine) allows automation of ‘complex’ processes in an ‘unattended’ mode along with the usual ‘attended’ ones with equal ease.
- Automation of simple-to-complex processes: The TruBot ensemble has successfully executed simple to highly complex use cases including developing an intelligence and monitoring system atop Big Data harnessed from various unstructured data sources for one of the premier intelligence agencies. Datamatics was acknowledged by NASSCOM for the same.
- Interoperability: TruBot suite of products can be implemented in standalone as well as bundled form across diverse, process-intensive domains. They are also highly interoperable with other industry leading products and can also be adapted as per business requirements.
- Easy use for business users: TruBot has a modern, web-based user interface and drag-and-drop features, which allow business users and developers to work with equal ease.
- Bot creation and management: TruBot has Cockpit component, which allows businesses to create bots as well as manage and monitor an enterprise level RPA effort from any remote location across the globe in the presence of a strong net connectivity.
- Change catalyzation: Being in the IT and BPO segment, Datamatics has domain and process knowledge. Hence it understands what the businesses require to bring the legacy on a common turf with the modern IT ecosystem and acts as a change catalyst in a way that the technical debt is minimal and projects rapidly move ahead.
- Success story 1: A leading insurance company reduced the processing time from 16-20 mins to 2-3 mins per case by using RPA capabilities of TruBot, AI algorithms, and complex business rules for data collation, data massaging, and policy document issuance. Watch now >
- Success story 2: A large US bank used ML capabilities of TruBot Neuro for auto-classifying 35 million documents into 200+ categories while consolidating mortgage documents from multiple entities into one mega document management system. Watch now >
- Success story 3: A large intelligence and monitoring outfit used TruBot and AI engine for extracting information from multiple unstructured data sources to build a real-time pattern mining and analytics solution. Read more >
Datamatics has proprietary products in RPA, Intelligent Data Capture, Intelligent Automation, and AI / ML space. The company understands the market demands as well as emerging trends and believes that innovation using AI / ML is the way ahead. Following is the roadmap for future releases:
- Enterprise productivity: With a strong focus on understanding how users operate in their business environment, the company is looking to improve enterprise productivity by adapting the product to more complex Intelligent Automation use cases, where human judgment is required.
- Seamless integration & security: It has already weaved in strong security features through multi-factor authentication and segregation of bot design and operations. The future releases will focus on enterprise-grade integration & business end-user automation, customer facing process automation, resilience to changes in technology landscape, process understanding, and performance tracking.
- Chatbots: Integrating Natural Language Processing (NLP) powered chatbots to process voice commands, in the manner we speak, to augment the required information from various sources, while providing important suggestions for related scenarios, is also included in the future scope.
- Hybrid cloud: Datamatics understands the market demand for data integration and democratization of process automation. The company also believes that cloud is the upcoming trend and most businesses will migrate to cloud sooner than later. Datamatics has already made head-ways by developing useful proof-of-concepts in hybrid cloud which have high speed to value.
- Footprint & partner ecosystems: The company has a local presence in USA, Europe, India, APAC, and UAE and a healthy partner ecosystem comprising of 50+ partners. The company is now focusing on expanding its footprint across geographies by building a strong partner ecosystem for implementation and after sale support. At the same time, the company is in the process of leveraging the product across domains including BFSI, manufacturing, supply chain, retail, etc.