Robotic Process Automation (RPA) has been catching the attention of the world.
While companies that adopt RPA are trying to migrate many workers to new roles, Forrester Research estimates that RPA will threaten the livelihoods of 230 million or more knowledge workers or approximately 9 percent of the global workforce.
By 2020, Artificial Intelligence (AI) and automation will decrease employee needs in shared service centers by 65 percent, according to Gartner, which says the RPA market will exceed $1 billion by 2020. You can now understand why RPA is at the center of attention.
Then, Why Use RPA Tools?
There are several reasons for using RPA tools, but the main reason is that companies can save time and resources by freeing up their employees to perform more strategic and other critical tasks.
Automation is becoming a key aspect of digital transformation, and RPA software has the ability to simplify process automation for businesses.
By deploying bots to quickly perform tasks, companies can afford to prioritize activities and projects that require strategies and manpower.
RPA software is most valuable for time-consuming manual tasks such as data entry that can take hours and hundreds of clicks on a computer for an employee to complete.
Bots deployed in RPA tools can perform these laborious tasks in a fraction of the time compared to humans. This not only saves time of employees but also saves money by not having to pay for human labor.
In addition, RPA bots can reduce human error when performing certain tasks. For example, when generating financial reports based on general ledger data, ensuring accuracy is essential.
Entering even a single incorrect number can damage the budget and forecast projections and mislead stakeholders. By using RPA software, users can ensure that human error is completely eliminated from this process.
Top 5 Open Source RPA Tools
UiPath is one of the leading open-source RPA tools. It has products like Platform, Studio, Robots, and Orchestrator.
UiPath is operating in industries such as BPO, Finance, Insurance, Healthcare, Telecommunications, Manufacturing, Public Sector, Retail, and BPA.
The tool handles Accounts Payable Automation, Insurance Claims Processing Automation, Contact Center Automation, Accounting and Financial Automation, and Healthcare Provider Automation.
It provides solutions in desktop automation, web automation, GUI automation, screen capture, Citrix automation, mainframe automation, SAP automation, and Excel automation.
Robot Framework is a prevalent open-source automation framework for robotic process automation and acceptance test-driven development (ATDD). It has simple plain text syntax and can be expanded easily with libraries executed using Java or Python.
The framework also runs on PyPy, IronPython (.NET), Jython (JVM) and has a rich ecosystem around it consisting of various basic tools and libraries that are developed as separate projects.
AutomationEdge is a leading player in the rapidly growing RPA market by providing information technology automation and robotic process automation solutions such as Bots, Machine Learning, and Artificial Intelligence. Also, helps companies perform tasks that involve repetitive rules.
Like other RPA companies, it also supports a variety of industries, such as Transportation, Aviation, and Finance. Along with these solutions, it also offers solutions for the F3 RPA Bot and RPA in the cloud.
Automation Anywhere is an RPA company that develops Robotic Process Automation software. The company is headquartered in California, United States.
It has few products like Automation Anywhere Enterprise, IQ Bot, Bot Insight, BotFarm, and Bot Store. It also uses technology consisting of assisted and unassisted RPA.
Automation Anywhere provides solutions in a variety of industries including BPO, financial services, healthcare, insurance, life sciences, manufacturing, the public sector, and telecommunications.
TagUI is a command-line open-source tool for RPA. It is maintained by AI Singapore, a government-funded initiative to build local artificial intelligence capabilities.
TagUI helps you rapidly automate time-critical or repetitive tasks which includes data acquisition, process automation, and testing of web apps.