Strategies for Improving Productivity through Digital Upgrades: Case Study on RPA Technology

Bogoevici Flavia ()
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Bogoevici Flavia: The Academy of Economic Studies, Bucharest, Romania

Proceedings of the International Conference on Business Excellence, 2024, vol. 18, issue 1, 3167-3184

Abstract: In a time of continuous transformation and driven innovation, where the modern technologies meet the business environment, the technological and cultural shift is highly required. Companies should know how to manage changes of profound impact and how to face modern challenges in order for them to evolve. The Covid pandemic forced companies to compress years of digital transformation into months and adapt very quickly. New technologies have arrived and by adopting them, businesses can improve their processes, reduce their costs, minimizing the errors and attaining increased efficiencies. These are the main drivers in the Automation Economy, where successful automation programs represent a crucial aspect for the high productivity of the modern businesses. Robotic Process Automation can reduce the costs of business processes up to 80% as robots are performing low-level, manual, repetitive tasks. Now, there is no longer necessary to hire numerous employees as one robot can replace from three to eight employees. By 2030, the global RPA market is expected to exceed 13 billion dollars. The paper offers an overview of three areas: productivity, digital transformation and disruptive technologies, through a conceptual framework. In addition, the paper discusses three technologies that are part of the productivity increase context, together with their impact: Internet of Things, Artificial Intelligence and Robotic Process Automation. These paramount concepts are further detailed during the paper, generating an accurate, new perspective regarding the topic. The paper is descriptive, explaining the conferred terminologies and the given ideas by using references to related literature and provides a case study from the automation industry.

Keywords: Robotic Process Automation; productivity increase; digital transformation; Internet of Things; Artificial Intelligence; Machine Learning; saved working hours (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:poicbe:v:18:y:2024:i:1:p:3167-3184:n:1046

DOI: 10.2478/picbe-2024-0259

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