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.

YOU MAY ALSO LIKE

Business Process Outsourcing: Process, Strategies, and Contracts
Hardcover, John Wiley & Sons, 2007, ISBN13 9780470044834, ISBN10 0470044837
Outsourcing: A Guide to. Selecting the Correct Business Unit. Negotiating the Contract. Maintaining Control of the Process
As companies in growing numbers look to outsource functions not related to their core competencies, Bragg's work provides an excellent road map. Demonstrating a firm grasp of the topic, he intelligently walks the reader through the maze, analyzing all as

Tips For Shopping Online

1. Make sure to read all the information about any product you are considering purchasing. Just looking in a picture online can be deceiving sometimes. It will make a product look bigger or smaller than. Make sure to browse the description so that you know exactly what you really are purchasing.

2. Sign up for your chosen online stores' newsletters. Often times online stores will be sending out daily, weekly or monthly newsletters with special sales, discounts and deals. If you like to save money, you could possibly score some terrific deals on items you were going to purchase anyway.

3. When shopping online, use a credit card as opposed to a debit card. This is because bank cards are based on your credit, not the amount of money in your bank account. In case a internet hacker gets your banking information, they can completely ruin you within dependent on hours.

4. Get engaged in the social media of the favorite online stores. Brands with big online presences typically put a lot of money behind their social media, and this includes offering their followers some mega-discounts and exclusive deals. You may be one of the lucky ones scoring these deals with just a quick follow or fanning.

5. To help protect your credit, use only one credit card for online purchases. This will help you quickly track your spending habits when the charge card statement comes in the mail. If you notice any charges that you simply did not make, call the credit card company immediately and report it to them.

Popular

Recent

Top reviews