Robotic Process Automation: The Automation of Automation

Robotic process automation or RPA is a software-based approach of process automation by capturing, interpreting and coordinating the actions of existing applications and processes. Basically, it is a software that operates as a virtual workforce and reduces or replaces the human intervention in repetitive and recurrent tasks. It can be applied to and interact with the existing applications, without having to change the current IT-landscape, and can be used in a wide range of industries, including finance, accounting, banking and insurance.

The purpose of this article is to provide a clear understanding of the concept of Robotic Process Automation, what it can do and what potential benefits it promises to deliver when implemented correctly. Besides that, the article provides a clear overview of where the technology stands today and what the future might bring. Finally, one chapter is devoted to RPA applications in the financial industry as it is possibly the industry with the largest potential and one that will be greatly disrupted.

Read the full white paper (pdf) "RPA: The automation of automation" by our consultant Jonas Theyssens.

SUMMARY

  • Introduction
  • What is RPA?
  • How does it work?
  • Initio: first in line
  • Benefits of RPA
  • Differences with traditional Information Technology Process Automation (ITPA)
  • Should we fear an invasion?
    • The impact on employment
    • Regulation and supervision
  • RPA in finance
    • A perfect fit
  • Are the robots here to stay?
  • Bibliography