We’ve all heard the rumblings: how robotic process automation (or RPA for short) is going to eliminate human jobs. How someday in the not-so-distant-future robots will become the quintessential “heartbeat” (ironically) of the future workplace. And while experts agree that RPA will most certainly change the way work is done, most also agree that humans are here to stay. One area that RPA is having a particularly huge impact on, however, is outsourcing. Here’s how.
The first and most significant way that robotic process automation is revolutionizing the way outsourcing providers conduct business is in terms of efficiency. Businesses of every shape, size and industry have been leveraging external resources to handle their IT services for decades now, and the playing field is extremely competitive. Aside from price, the one key differentiator is service level. Those providers who are able to deliver the best support at the most attractive price win out.
To achieve this goal, outsource providers need the ability to perform at the highest capacity levels while also minimizing cost. Robotic process automationo helps accomplish this by allowing technology to do the heavy lifting. Not nly does work get done faster, but it’s also much more accurate. As a result, external service providers are able to offer their clients maximum productivity at a remarkably affordable rate that is not only better than handling IT in-house, but also more competitive on the outsourcing realm.
Of course, along with the enhanced performance comes a significant change in fee structure. Because robotic process automation is making the jobs of outsourced professionals easier and more efficient, the savings these providers are realizing will inevitably begin being passed on to their customers in the way of lower fees. And not just as a one-time adjustment, either. Thanks to the promise of even better RPA technology in the near future, many outsourcing firms have already begun offering new service agreements that extend multiple years and guarantee continual decreases at future intervals.
New customers will likely reap the greatest benefits of RPA efficiency, at least in terms of lower fees. This is because existing clientele are typically more dependent on their outsourcing partners, which can be used as leverage to keep fees at a higher level for renewal contracts versus brand new ones. Disengaging and starting over again with a new provider solely on the basis of cost is often not a feasible option. That said, there should still be a significant reduction in future contract pricing if negotiated properly.
Without questions, robotic process automation is a game changer, particularly for the outsourcing industry. With increased efficiency levels, satisfaction will continue to rise even as operating costs continue to decrease, inevitably changing the landscape for both sides of the equation.