In 2019, the global market for Robotic Process Automation (RPA) was estimated to be worth 1.57 billion USD.
Then, a pandemic took hold of the world, disrupting it, shaking it to its core.
If it was not for business intelligence, enterprises worldwide would have suffered much more than they did.
As a result, RPA has never seemed more valuable.
By 2028, it is expected to grow by an annual growth rate of approximately 32%, reaching north of 13 billion USD in value.
But there is more to RPA’s soaring value than process automation.
RPA is so highly valued because it also boosts sustainability.
What is the importance of ESG?
Like RPA, sustainable assets have also risen in value.
More investors want to invest in enterprises that drive long-term, sustainable growth. Today, the market for ESG is valued at just over $30 trillion. By 2025, Bloomberg expects it to rise to $53 trillion.
The potential for sustainable growth is measured by an ESG score. It takes into calculation hundreds and thousands of factors that illustrate —
- The Environmental value created by a business.
- Social value, by promoting equality, fairness, diversity, and other social virtues.
- And leadership or Governance value, by engaging in ethical and fair trading.
As stakeholders increasingly believe in these values; they invest increasingly less in enterprises that don’t.
In other words, enterprises that do not create ESG value risk suffering a financial hit.
3 ways RPA creates ESG value
Eventually, enterprises ought to make big changes to strategy, but adopting business intelligence solutions is a quick and easy way with which they can begin their sustainability journey.
RPA boosts efficiency
The primary objective of RPA is to digitize and automate time-consuming, error-prone tasks.
By embracing digital transformation, enterprises deliver sustainable growth by massively cutting down on paper and the waste and inefficiency it generates.
Automation also optimizes supply chains for efficiency.
RPA puts employees first
A big part of ESG is promoting employee well-being since employees, too, represent enterprise stakeholders.
By automating manual, time-consuming tasks like sorting paperwork, RPA leads to a significant rise in employee happiness.
Employees get to focus more on tasks that cannot be automated, tasks that demand creativity, planning and are purposeful.
Such tasks are more meaningful and growth-oriented and hence make for greater happiness.
Identifying more sustainable opportunities
Business intelligence solutions also facilitate data analytics, which enables enterprises to use data to identify and solve problems.
A problem could be anything, from streamlining processes to developing a new, sustainable strategy.
What data analytics provides is a deeper, more objective understanding of processes, their bottlenecks, and broad insights that help eliminate them.
Data analytics also powers forecasts, which enable enterprises to predict future trends and challenges, such that they can anticipate the next threat to their sustainability and counteract it in well advance.
That’s how RPA boosts ESG. It lets you stay a step ahead.