Robotic Process Automation (RPA) has emerged as a transformative technology that promises increased efficiency, reduced costs, and improved accuracy for businesses. However, there is a persistent myth that the costs of implementing RPA outweigh the benefits, making it an unviable investment. In this blog, we aim to debunk this myth and shed light on how Tangentia effectively deploys RPA solutions, ensuring a swift return on investment (ROI) for organizations.

Understanding the True Value of Robotic Process Automation(RPA):

Gartner expects that by 2026, enterprises that have adopted RPA & AI engineering practices to build and manage adaptive AI systems will outperform their peers in the number and time it takes to operationalize artificial intelligence models by at least 25%. Many organizations mistakenly focus solely on the initial costs associated with implementing RPA, failing to recognize the long-term benefits it offers. RPA streamlines repetitive and rule-based tasks, freeing up valuable human resources to focus on more strategic and complex activities. This leads to increased productivity, improved customer experience, and accelerated business growth.

Tangentia's ROI-driven Approach:

Tangentia understands the importance of delivering tangible ROI to its clients. With their extensive experience in deploying RPA solutions across various industries, Tangentia adopts a meticulous approach to identifying and prioritizing automation opportunities that yield the highest ROI. By targeting processes with high volumes, error rates, and manual effort, Tangentia ensures rapid ROI timelines.

Cost Reduction through RPA:

Contrary to the myth, RPA can significantly reduce costs for organizations. By automating mundane tasks, RPA eliminates human errors and increases operational efficiency. Tangentia's expertise lies in identifying cost-intensive processes and seamlessly integrating RPA solutions, resulting in substantial savings in labor costs and increased accuracy.

Scalability and Flexibility:

One key advantage of RPA is its scalability and flexibility. Tangentia empowers organizations to start small and gradually expand their automation initiatives as they witness the immediate benefits and ROI. By leveraging a modular approach, Tangentia ensures that the RPA solution grows alongside the organization's evolving needs, delivering sustained ROI in the long run.

Enhanced Customer Experience:

RPA not only improves internal processes but also directly impacts customer experience. By automating tasks such as order processing, invoice management, and customer support, Tangentia enables organizations to respond faster, reduce turnaround times, and deliver a superior customer experience. This, in turn, leads to increased customer satisfaction and loyalty.

Continuous Improvement and Optimization:

Tangentia doesn't stop at the initial deployment of RPA solutions. They understand that continuous improvement and optimization are crucial for sustaining ROI. With their expertise in process analytics and monitoring, Tangentia ensures that organizations can identify bottlenecks, measure performance, and refine processes to maximize the benefits of RPA.

It's time to debunk the myth that the costs of RPA outweigh its benefits. Tangentia, with its expertise and focus on ROI, can effectively deploy RPA solutions to organizations, delivering rapid returns and long-term value. By embracing RPA and partnering with Tangentia, organizations can automate their processes, reduce costs, enhance customer experience, and unlock new opportunities for growth in today's digital landscape.

The pace of technological change in our world is astonishing, with various factors contributing to a global productivity crisis. Issues like labor shortages, inflation, cost limitations, and increased competitive pressures have driven the need for businesses to enhance productivity by 50% to meet global GDP targets, as predicted by McKinsey. In light of these challenges, business leaders are increasingly focusing on the combination of automation and AI as a means to bridge the productivity gap, stay competitive, and foster innovation and growth.

Tangentia's Intelligent Automation and its AI capabilities along with Automation Anywhere play a crucial role in addressing these challenges. Over the past two decades, Automation Anywhere has been dedicated to empowering the future of work by unlocking human potential. They have achieved this by assisting customers in building AI-powered digital workforces that enable individuals to excel in collaboration, creativity, and business growth.

However, this is just the beginning for Automation Anywhere as they embark on their next major endeavor. In February, they introduced their first generative AI solutions in collaboration with Open AI and Microsoft, which have received tremendous enthusiasm from their customer and partner community. Automation Anywhere has announced the integration of generative AI across their entire Automation Success Platform, empowering every application, team, and process with this innovative technology.

Let's take a closer look at the three exciting innovations:

Automation Co-Pilot + Generative AI for Business Users (GA): Automation Co-Pilot, initially introduced as an automation assistant embedded in any application, has now been powered by AI. This enhancement further accelerates team productivity by enabling them to leverage generative AI for various use cases across any system, from content creation and summarization to email communication and recommendations.

Automation Co-Pilot + Generative AI for Automators: Automation Co-Pilot is now seamlessly integrated into the developer experience, connected to generative AI. This empowers both professional developers and business users to harness the power of generative AI to expedite automation development by up to 55%. Users can easily create automations through natural language conversations with Automation Co-Pilot, making automation development accessible to individuals throughout the organization.

Document Automation + Generative AI: Document Automation now leverages generative AI to rapidly understand, extract, and summarize data from a wide range of document types, including unstructured documents, in addition to structured and semi-structured ones. This integration unlocks more data by supporting a growing universe of document types. Moreover, the seamless connection to automation allows for direct insertion of data into process workflows without any additional effort.

Generative AI on the Automation Success Platform accelerates business impact by providing out-of-the-box models developed with decades of automation expertise. This solution is built on an open platform, offering users the flexibility to select the large language model that best suits their needs. Moreover, it is built on the Automation Success Platform, ensuring enterprise-grade security, privacy, and compliance standards, and promoting responsible AI usage.

With the rapid maturation of increasingly sophisticated technologies, enterprises now have an opportunity to bring new levels of context, intelligence, and automation to day-to-day processes and decision-making in a way that spans organizational silos and enables holistic, enterprise-wide change. In short, they can work toward becoming an autonomous enterprise.

Transformation of this sort will require a deep understanding not only of the potential of new technologies but also of how existing information systems connect and interact and where current business processes have room to improve. This is where Tangentia comes in as an expert with those deep insights, to determine where the opportunity lies and where existing IT infrastructure might be holding your organization back from realizing its full potential.

Artificial intelligence (AI) and robotic process automation (RPA) are revolutionizing the way businesses operate, and the CFO's office is no exception. In recent years, AI and RPA technologies have become increasingly sophisticated, making it possible for finance departments to automate a wide range of tasks and processes. This, in turn, is transforming the role of the CFO and helping businesses become more efficient, agile, and profitable.

One of the main ways that AI and RPA are transforming the CFO's office is by automating repetitive and time-consuming tasks. For example, AI-powered software can now extract data from invoices, process payments, and generate financial reports, all without any human intervention. This frees up finance professionals to focus on more strategic tasks, such as forecasting, risk management, and business analysis.

Another area where AI and RPA are making a significant impact is financial planning and analysis. By analyzing vast amounts of financial and operational data, AI algorithms can identify patterns, make predictions, and provide insights that would be impossible for humans to uncover on their own. This allows CFOs to make more informed decisions, develop more accurate forecasts, and identify opportunities for cost savings and revenue growth.

In addition to improving the accuracy and efficiency of financial processes, AI and RPA are also helping businesses to become more agile and responsive to changing market conditions. For example, by automating financial reporting and analysis, CFOs can get real-time visibility into the company's financial performance, enabling them to quickly identify and address issues as they arise.

Furthermore, AI and RPA are also helping businesses to manage risk more effectively. By automating risk assessments and compliance checks, finance departments can reduce the risk of errors and fraud, and ensure that the company is operating in compliance with regulatory requirements.

While there are certainly challenges to be addressed, such as the need for skilled workers to manage and maintain these technologies, the benefits of AI and RPA are too great to ignore. By embracing these technologies, CFOs and finance departments can transform their operations and help drive business success.

In conclusion, AI and RPA are transforming the CFO's office and helping to transform businesses. By automating repetitive tasks, improving financial planning and analysis, increasing agility, and managing risk more effectively, CFOs can free up time to focus on more strategic tasks, such as developing growth strategies and driving innovation. As AI and RPA continue to advance, the opportunities for finance departments to drive business success will only continue to grow.

In the 2008 recession, many workers turned to self-employment as a way to maintain their income. It was the beginning of the gig economy, with companies hiring freelancers and contract workers to supplement their workforce and keep costs down.

Now, with the economy poised on the brink of another recession—a 60% likelihood according to Morgan Stanley—and with revenues down and inflation up, numerous companies are changing their approach to hiring and even reducing their workforce in some cases.

But this time around, companies have a new option when it comes to supplementing their workforce and keeping costs down—the use of digital workers.

What Are Digital Workers?

Digital workers are automated software programs that use robotic process automation (RPA), artificial intelligence (AI), and machine learning (ML) to perform repetitive tasks that normally take human workers hours to complete. The goal with digital workers is to automate end-to-end business functions in the front-office and back-office so they get done more efficiently and accurately at a lower cost.

How Digital Workers Can Help

Digital workers can do the work of human workers in a fraction of the time, without human error, either working autonomously or alongside human workers. This frees up people to focus on higher-value tasks and it makes it possible for a company to retrain their existing human workforce so they can fill other roles within the organization.

This reduces the need to hire new workers and makes it easier to keep current staff employed in other areas of the company. It also increases overall productivity and innovation, without increasing costs and the results of this approach speak for themselves. They include:

Many companies are making these changes. According to the World Economic Forum, over 80% of business executives are pushing ahead of schedule with their plans to digitize work processes. In addition, 50% of employers expect to speed up the automation of at least some of the roles within their organizations.

The Time to Thrive Is Now

Instead of worrying about how to make it through the next recession, it’s time to come up with a digital strategy that will make it easy not only to survive but to thrive. Digital workers have the power to reinforce your workforce, so you can maintain operations without compromise—and without increasing costs. Instead, you will be able to do more with less and you will maintain your competitive advantage.

Take control of your workforce needs. Reach out to a Tangentia team member today and find out how we can help you recession-proof your business with digital worker technology.