Gartner: global RPA software revenue to reach US$2bn in 2021
Recent research made by Gartner reports a projected increase of 19.5% in revenue in 2021 compared to 2020.
The projection will see the RPA software industry reach US$1.89bn despite economic pressures that have been caused due to COVID-19. In addition the company also expects double digit growth rates through to 2024.
“The key driver for RPA projects is their ability to improve process quality, speed and productivity, each of which is increasingly important as organisations try to meet the demands of cost reduction during COVID-19,” commented , research vice president at Gartner.
“Enterprises can quickly make headway on their digital optimisation initiatives by investing in RPA software, and the trend isn’t going away anytime soon.”
At the end of 2020, the global RPA software revenue is expected to reach US$1.58bn in 2020 - an increase of 11.9% compared to 2019. Other expectations predicted for 2020 include the decrease of average RPA princes by 10 to 15%. While 2021 and 2022 are expected to see decreases of 5 to 10%.
COVID-19’s impact on RPA interest from enterprises
Elsewhere in Gartner’s forecasting report, the company highlighted that the pandemic and coming recession will drive interest from enterprises in RPA. The company predicts that 90% of large organisations will have adopted some form of RPA by 2022 to drive resilience and scalability of critical business processes.
“Gartner anticipates RPA demand to grow and service providers to more consistently push RPA solutions to their clients because of the impact of COVID-19,” commented , distinguished Research Vice President at Gartner.
“The decreased dependency on a human workforce for routine, digital processes will be more attractive to end users not only for cost reduction benefits, but also for insuring their business against future impacts like this pandemic.”
Expectation to grow RPA Capacity
Gartner also predicts that by 2024 large organisations will have tripled the capacity of their current RPA, with a large proportion of ‘new’ spend coming from the purchase of new add-on capabilities.
“As organisations grow, they will need to add licenses to run RPA software on additional servers and add additional cores to handle the load,” added Mr. Biscotti.
“This trend is a natural reflection of the increasing demands being placed on an organisation’s ‘everywhere’ infrastructure.”
Future RPA clients
Finally Gartner indicates in its forecast that as the awareness of RPA grows among business users, nearly half of new RPA clients will be from business buyers outside IT organisations by 2024.
“Leading RPA software vendors have successfully targeted chief financial officers (CFOs) and chief operating officers (COOs), instead of IT alone. They like the quick deployment of low-code/no-code automation. The challenge they have is integrating RPA successfully across heterogeneous, changing environments, which is where IT coordination can make the difference,” concluded Mr. Biscotti.
How changing your company's software code can prevent bias
Two-third of tech professionals believe organizations aren’t doing enough to address racial inequality. After all, many companies will just hire a DEI consultant, have a few training sessions and call it a day.
Wanting to take a unique yet impactful approach to DEI, Deltek, the leading global provider of software and solutions for project-based businesses, took a look at and removed all exclusive terminology in their software code. By removing terms such as ‘master’ and ‘blacklist’ from company coding, Deltek is working to ensure that diversity and inclusion are woven into every aspect of their organization.
Business Chief North America talks to Lisa Roberts, Senior Director of HR and Leader of Diversity & Inclusion at Deltek to find out more.
Why should businesses today care about removing company bias within their software code?
We know that words can have a profound impact on people and leave a lasting impression. Many of the words that have been used in a technology environment were created many years ago, and today those words can be harmful to our customers and employees. Businesses should use words that will leave a positive impact and help create a more inclusive culture in their organization
What impact can exclusive terms have on employees?
Exclusive terms can have a significant impact on employees. It starts with the words we use in our job postings to describe the responsibilities in the position and of course, we also see this in our software code and other areas of the business. Exclusive terminology can be hurtful, and even make employees feel unwelcome. That can impact a person’s desire to join the team, stay at a company, or ultimately decide to leave. All of these critical actions impact the bottom line to the organization.
Please explain how Deltek has removed bias terminology from its software code
Deltek’s engineering team has removed biased terminology from our products, as well as from our documentation. The terms we focused on first that were easy to identify include blacklist, whitelist, and master/slave relationships in data architecture. We have also made some progress in removing gendered language, such as changing he and she to they in some documentation, as well as heteronormative language. We see this most commonly in pick lists that ask to identify someone as your husband or wife. The work is not done, but we are proud of how far we’ve come with this exercise!
What steps is Deltek taking to ensure biased terminology doesn’t end up in its code in the future?
What we are doing at Deltek, and what other organizations can do, is to put accountability on employees to recognize when this is happening – if you see something, say something! We also listen to feedback our customers give us and have heard their feedback on this topic. Those are both very reactive things of course, but we are also proactive. We have created guidance that identifies words that are more inclusive and also just good practice for communicating in a way that includes and respects others.
What advice would you give to other HR leaders who are looking to enhance DEI efforts within company technology?
My simple advice is to start with what makes sense to your organization and culture. Doing nothing is worse than doing something. And one of the best places to start is by acknowledging this is not just an HR initiative. Every employee owns the success of D&I efforts, and employees want to help the organization be better. For example, removing bias terminology was an action initiated by our Engineering and Product Strategy teams at Deltek, not HR. You can solicit the voices of employees by asking for feedback in engagement surveys, focus groups, and town halls. We hear great recommendations from employees and take those opportunities to improve.