India most satisfied with automation technologies: UiPath-Economist study
Indian enterprises are most satisfied with automation technologies, according to a study conducted by robotic process automation (RPA) software firm UiPath and research specialist Economist Intelligence Unit.
While 73% of global respondents are satisfied with their automation technologies, India in particular (86%) is the most content with the benefits resulting from automating business processes, the study found.
UiPath and the Economist Intelligence Unit surveyed 502 C-Suite level executives at companies with more than $250 million in revenue. These were spread across eight countries including US, Canada, Germany, France, Japan, India and Singapore.
"RPA is a high or essential priority to meet strategic business objectives in India [84% of persons surveyed in India]. Almost 90% of respondents from the country expect their company’s financial results to improve as a result of automation, namely profitability, operating costs and revenue growth," read the statement.
The survey also found that over 90% of organisations already use technology to automate business processes and almost 88% believe that automation will accelerate human achievement.
It also showed that 79% believe that automation is most effective when it complements humans, not replaces them.
The survey further showed that automation was a C-level priority and kick-starting businesses’ digital transformations. Almost 84% of respondents reported that the C-Suite is driving automation initiatives for their business, with automation responsibility rolling up to the CEO (22%), CTO (29%) and CIO (17%).
"Over 70% of C-suite respondents report that RPA and AI are a high or essential priority to meet their strategic objectives, mainly because they expect it will make them more competitive," the company said.
It further said automation can also increase customer satisfaction, help employees focus less on mundane, repetitive tasks, help to increase capacity for handling volume, be efficient in product, service marketing, increase customer engagement and help in sourcing new revenue.
The study also showed that automation was more mature in the US, followed by France, Germany and lagging behind in Canada.
It further said that manufacturing as a sector had outpaced other industries in adoption of automation technologies in business processes.