Keypoint Intelligence has announced a new study entitled "Robotic Process Automation: A North America Analysis of Demand, Key Applications and Market Size." This research was conducted to understand the demand among mid-size and large enterprises for robotic process automation (RPA) software that automates manual, repetitive tasks such as steps within invoice processing, sales orders, payroll, employee onboarding, accounting reconciliation and data entry.

Through the survey, Keypoint Intelligence gathered information from 825 respondents from mid-size to large companies who serve as manager level or higher with a role in IT, operations, sales and logistics departments to identify where companies are investing or considering investing in automation. A focus on key vertical sectors included health care, financial services, banking, insurance, logistics, manufacturing and education.

"This study focuses on the size and addressable market for current and future investment opportunities and shows that 48% of companies surveyed are allocating between 10% and 20% of their total annual budgets to document and process automation spending over the next 18 months," said Anne Valaitis, principal analyst, Keypoint Intelligence's managed IT services. "Additional findings reveal that digital transformation (DX) initiatives are propelling automation technology forward. There is an increase in demand from buyers to apply technology to improve productivity, increase efficiency and streamline operations to generate and maximize profit. Adoption will continue to increase as organizations realize the benefits of RPA."

The survey captured information around various market factors that impact the RPA customer journey including:

• Budget Allocation: Total annual budget review to document and process automation spending over the next 18 months.
• Barriers to Adoption: Unstructured business data which can be daunting to address and convert.
• Internal Buy-in: RPA champions had to consult key stakeholders within the organization and conduct an internal cost analysis to justify RPA for the decision maker.
• Consideration Phase: There are several steps a customer must take and many factors to consider once they learn about RPA solutions, lengthening the evaluation period.

For more information about the robotic process automation study, watch a webinar on demand or click here.