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25 June 2019

New Study Shows Adoption of Business Automation Technologies is Driven by the C-Suite

25 June 2019

New Study Shows Adoption of Business Automation Technologies is Driven by the C-Suite

UiPath, the leading Robotic Process Automation (RPA) software company, released a new study that explores the current and future progress of automation in organizations around the world. The survey, developed in collaboration with The Economist Intelligence Unit, found that 90 percent of organizations already use technology to automate business processes. Seventy three percent stated that they are very or entirely satisfied with the benefits resulting from automation, and businesses in every industry find value in it. Furthermore, most businesses (88 percent) believe that automation will accelerate human achievement and that automation is most effective when it complements humans, not replaces them (79 percent).

 

There are few fields of organizational activity that are untouched by automation. Automation is helping businesses in every industry around the world seek efficiencies that come from replacing manual tasks with machine-operated ones. But many organizations today are aiming even higher, with their sights set on adopting automation technology like AI and RPA for business growth and to encourage greater creativity, productivity and innovation from employees.

 

The survey -- which surveyed 502 senior executives of mid and large enterprise, all with annual revenues over U.S. $250 million and half over U.S. $1 billion, among eight countries: Canada, France, Germany, India, Japan, Singapore, the United Kingdom and the United States -- found that automation of business processes has made considerable headway and the future of automation looks bright:

 

Automation is a C-Level priority and kickstarting businesses’ digital transformations

Eighty three percent of respondents report that the C-Suite is driving automation initiatives for their business, with automation responsibility rolling up to the CEO (22 percent), CTO (28 percent) and CIO (17 percent). Seventy percent of CEOs report that RPA and AI are a very high priority to meet their strategic objectives, mainly because it will make them more competitive.

 

Automation is at the center of 93 percent of businesses’ digital transformation initiatives. Noted benefits of automation include:

  • An increase in customer satisfaction (92 percent)
  • Focused employee attention on less repetitive, mundane tasks (91 percent)
  • Increased capacity to handle volume (91 percent)
  • Efficient product and service marketing (90 percent)
  • An increase in customer engagement (88 percent)
  • New revenue sourcing (85 percent)

 

India is the most satisfied with automation technologies

Seventy three percent of global respondents are satisfied with their automation technologies. However, India in particular is the most satisfied with the benefits resulting from automating business processes (citing 86 percent of respondents from the country). RPA is an extremely high priority to meet strategic business objectives in India (84 percent). Ninety percent of respondents from the country expect their company’s financial results to improve as a result of automation, namely profitability, operating costs and revenue growth.

 

Automation maturity is at its highest in the U.S.

Sixty-one percent of organizations in the U.S. make extensive use of automation. Closely trailing behind the U.S. is France (60 percent) and Germany (57 percent), while automation in Canada is lagging with only 28 percent of companies adopting it.

 

Manufacturing outpaces other industries in automating business processes

Business process automation has advanced the furthest in manufacturing, with 61 percent of respondents in the industry citing extensive use, perhaps not surprising given its long history with earlier generations of automation technology. By contrast, government and public sector institutions have made the least headway among surveyed sectors, with only 35 percent extensively using it.

 

Automation of business functions is most commonplace in IT, but the future looks beyond

Among businesses implementing automation, most have automated highly repetitive back-office functions. Automation of functions is most extensive in IT, operations and production, and finance. Typical candidates for automation in IT have been processes such as password management and the logging of service requests, while in operations, maintenance scheduling is frequently automated. However, in two years, those surveyed predict to see a big surge in use of automation for customer service, marketing and R&D.

 

Software automation deployments eclipse hard robotics

Software automation like RPA is outpacing hard robotics as a priority to meet strategic business objectives: sixty nine percent of respondents find software automation to be a high priority compared to 56 percent for physical robots. This is seen most often in India, the U.S. and Germany.

 

Factors that hinder automation adoption are consistent across organizations

Like any new technology, there will be factors holding companies back from complete implementation. For automation, data privacy and security concerns top the list -- especially emphasized by public companies and healthcare executives. 

 

Executives also cite deployment of technology, lack of relevant talent and skills, and employee resistance as barriers for business-wide automation adoption. The skills gap is felt most acutely in Asia, particularly Japan, while change resistance is most prominent in the U.K. For those reasons, 42 percent of executives believe providing education and reskilling opportunities are very important to smooth implementation.

 

For access to the full report and additional assets, visit automationfirst.economist.com

 

About UiPath

UiPath is leading the “automation first” era – championing one robot for every person, delivering free and open training and collaboration and enabling robots to learn new skills through AI and machine learning. Led by a commitment to bring digital era skills to more than a million people, the company’s enterprise Robotic Process Automation (RPA) platform has already automated millions of repetitive, mind-numbing tasks for business and government organizations all over the world, improving productivity, customer experience and employee job satisfaction.

 

Recently named by Comparably as the 6th happiest place to work and recognized for having the 11th best company culture among large businesses, UiPath is one of the fastest growing and highest-valued AI enterprise software companies worldwide.


by Georgeta Gheorghe

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