The analyst firm said RPA -- which enables software robots to replicate the actions of human workers for routine tasks -- is now being used or investigated by six out of 10 ANZ organisations with more than 20 employees.
The finance and insurance industries are expected to be the fastest adopters of RPA in the short term, according to Telsyte, although RPA can also be applied to industries with large customer support and request processing requirements, such as telecommunications and government.
Telsyte managing director Foad Fadaghi said RPA is not just about cutting overhead costs; it can also change the way organisations operate.
"A proof of concept is important for organisations to first understand the nature of processes that can be best solved through RPA, before progressing to an enterprise-wide strategy," Fadaghi suggested.
"Equally important is the use of pilot programs to understand the change management requirements before a further rollout."
Telsyte also recommended that organisations assess the processes they would like to automate by their level of complexity.
"Complexity has a positive correlation with automation costs, and targeting lower-complexity processes initially can result in better initial returns," Telsyte said.
Fellow analyst firm Gartner has previously referred to RPA tools as "gateway technologies" or "surface tools", because they simply skim the surface of the larger intelligent automation services market.
"The attraction is the RPA tool just sits on top of the legacy system" such as enterprise resource planning(ERP), and there is no need for any special integration, Gartner research vice president and analyst at Frances Karamouzis told ZDNet.
"They're also easy to use and have a relatively low cost. For all those reasons [RPA] has by far the highest adoption of automation tools that we've seen," Karamouzis added.
With the increase in enterprise investment in RPA, DXC Technology, a New York Stock Exchange-listed IT services company, announced the introduction of 60 new RPA experts in Australia and New Zealand.
"Organisations are looking for a way to bridge the gap between large funded digital transformation projects and the long tail of business processes attached to aging systems. RPA can achieve this with a virtual workforce that streamlines existing processes, lays the foundation for intelligent automation, and frees up employees for more engaging work," said Seelan Nayagam, managing director at DXC Technology ANZ.
Additionally, 38 percent of organisations with more than 500 employees have active RPA programs in place.
Based on insights provided by 302 CIOs and IT decision makers, the Telsyte ANZ Robotic Process Automation Study 2017 predicts the ANZ RPA market will grow at a compound annual growth rate (CAGR) of 45 percent from AU$216 million in 2016 to AU$870 million in 2020.