Not only is it a practice which takes place across virtually every economic sector, but outsourcing has become an industry in its own right in the past couple of decades. Everything from manufacturing to back office support functions has been outsourced and the trend continues to grow
Basically, any work which is sufficiently simple in nature and can be performed with minimal to no supervision by senior personnel can and is being contracted out to third parties who can provide businesses with lower labor costs, largely in developing countries.
However, not all outsourcing involves taking on overseas business partners or setting up satellite offices abroad. Especially for data entry and similar back office support work, outsourcing means handing over these tasks to robots. These essential functions don’t necessarily require a highly skilled worker, but even the cost of semi-skilled overseas labor is still significantly higher than that of using robotic automation software. This software can replace human workers for rules based work involving data processing at only a fraction of the cost of hiring new staff, whether at the home office or a third party. Better still, robots can perform the same work far more quickly and accurately than even the most highly skilled employee, whether a company’s needs include legal robotic automation or simple data processing.
An Improvement over Traditional Outsourcing
Robotic process automation has given companies who outsource routine data processing work a choice: dealing with third party automation solution providers who offer either software as a service (SaaS) or transaction-based pricing models or purchasing and implementing their own robotic automation in-house.
It has been projected that in the next five years, close to half of the work which is currently outsourced to human workers in countries with lower labor costs will be done by robots. Obviously, this will have an effect on those developing economies which have reaped the benefits of outsourcing from first world economies, but like other major shifts in the world economy, it is expected that this change will ultimately lead to new jobs and very likely, more than will be lost due to this disruption.
Improving Quality through Robotic Automation
Legal Robotic Automation offer businesses a number of benefits over a human workforce. But, one of the most important is that their work is completely accurate. To put it simply, software-based automation eliminates human error, leading to higher quality and ultimately, lower costs for businesses and consumers alike. Robots also perform their work in a way which is easily auditable for QA and compliance purposes; they can also be programmed to audit the performance of human workers.
There are many jobs which robotic process automation can handle. These include simple information retrieval programs for use by human workers or large scale robotic “offices” which can take on the workload of an entire office and run in a virtual environment to eliminate the cost of office space and other overhead expenses.
Recent advances in visual and speech recognition technology and AI as a whole will allow robotic automation to become increasingly sophisticated and greatly expand the ability of automated systems to perform ever more complex and less structured work across every industry , whether on their own or working side by side with a human workforce.