Survey: Firms trend towards automation – Bangkok Post

Rise in RPA software spending expected

Forrester Consulting, a US-based research firm, says about two-thirds of 270 companies surveyed aim to increase robotics process automation (RPA) spending by at least 5% over the next 12 months to boost productivity and ensure an efficient working environment.

The study, entitled "The future of work is still being written", was commissioned by UiPath, a US-based RPA provider, in July 2019. An online survey was conducted among 270 decision-makers from operations groups, shared services, finance and other lines of business from France, Germany, Britain and the US.

The study evaluates the impact of automation and how firms are gearing up for planning and preparedness for the future in relation to automation tech.

The research shows automation tech leads to better employee satisfaction, while indicating a 5% improvement in employee engagement in automation tech would lead to a 3% rise in revenue.

The results found 66% of the 270 surveyed firms indicated they would push up RPA software spending by at least 5% within the next 12 months, by which time the RPA service market would reach US$7.7 billion in value.

The market is expected to be worth $12 billion by 2023.

According to the study, automation offers tangible business benefits, including dealing with repetitive, rule-based tasks, enabling employees to focus on higher-value activities that require advanced skills, improving employee engagement and boosting customer satisfaction.

The report suggests companies invest in boosting employee skills in automation.

"By training employees, providing them vocational courses, or encouraging them to pursue digital qualifications, companies can allow employees to overcome fears around automation and embrace it as a productivity-boosting asset," said the report.

Malina Platon, managing director for Asean at UiPath, told the Bangkok Post automation investment will not only rise in the developed world, but also in emerging economies like Thailand.

Customer experience is a critical business priority and automation technologies such as RPA enable businesses to deliver better service, she said.

Reductions in costs and improvements in productivity will make Thailand a more successful and competitive economy, said Ms Platon.

She said automation will foster new roles and opportunities for Thai employees and the technology is in line with the government's Thailand 4.0 initiative.

The Board of Investment has indicated there needs to be 475,000 jobs related to digital skills by 2023 in the Eastern Economic Corridor.

To enable Thailand to prepare its future workforce, UiPath has entered into an academic alliance partnership with King Mongkut's University of Technology Ladkrabang to equip students with critical automation skills and teach them how to leverage RPA, working alongside software robots.

UiPath is also working with Assumption and Chulalongkorn universities on these goals.

Ms Platon said Thai enterprises need to rethink how they recruit and retain employees.

In the future, workforces will be a mix of full-time employees and talent with no formal ties to a company.

She said the company needs to embrace new worker profiles, such as digital elites and mission-based workers.

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Survey: Firms trend towards automation - Bangkok Post

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