More and more companies are adopting the emerging technology of Robotic Process Automation (RPA) to streamline their business operations. With RPAs, companies are able to automate mundane and simple rule-based processes, which in turn, allows them to save time and focus on more important parts of their business.
But is RPA just another buzzword or can it really deliver results? Let’s find out:
What is robotic process automation?
RPA aims to automate business processes through structured inputs and business logic. With the help of RPA tools, companies can configure software that can capture and interpret data from applications in order to process a transaction, manipulate entries, or trigger responses from other digital systems.
Everything from sending an automated response to deploying bots to automate jobs in an ERP system is a part of RPA.
Industries where RPA has delivered proven results
In most cases, customer and support service centres have several different systems and applications that undertake a high number of low complexity and repetitive tasks. When a customer calls in, service agents have to navigate through these applications while still making sure that they are able to manage the interaction with the customer professionally. But jumping back and forth between systems can make the entire process slow and even inaccurate at times, which can lead to bad experiences for the customers.
With RPA, common tasks like billing queries, user administration, incident management, and updating records can be automated. It can also ensure that tasks are run accurately and consistently during non-business hours.
IT companies hire well-trained, highly skilled, and valuable resources. But when your IT team spends too much time manually handling trivial daily tasks like running diagnostics, managing patch processes and taking backups, they end up not having enough time to focus on high-value skilled tasks which are actually more important for your business.
With assisted automation (automation with some human support) or full automation (no human intervention), you can leave the labor-intensive tasks to the RPA system, while your IT employees get freed up to handle more intellectually demanding tasks.
Usually, in HR firms, different employee details are saved in different disparate systems. Not only does it make it difficult to pull accurate information quickly, but streamlining your HR processes also becomes a challenge.
Over 65% of the HR’s rule-based processes are so repetitive and mundane that they can be easily automated and RPA can help make that possible. With RPA, you can fix your company’s existing HR processes by boosting automation capabilities of your old HR system. This could involve accurate payroll processing, quick onboarding of new employees and updating employee information.
The processes at financial service enterprises require constant searching, comparing, matching and filing. It’s also important to make sure everything is reviewed, and the data matches with all the other documents and files. Mistakes can be time-consuming, costly, and potentially dangerous for the business.
An industry where transaction volumes are high, RPA can help create more efficient operations in financial service companies and streamline their overall processes. It can help midsize financial organizations to accommodate change and embrace complexity more easily. Not to mention, it can also help firms meet compliance mandates and risks that are common to the industry.
RPA is not just another hype or buzzword; it is definitely here to stay. It is continuously delivering results in several industry verticals and helping companies increase productivity while saving costs by automating menial tasks.