Repetitive manual processes slows the pace of business. Things seem to take forever to happen. Making operations inefficient, ineffective and unprofitable, resulting in not only loss of revenue but also triggering client churn.
This is a serious setback, but is surprisingly not seen as such. Until the problem becomes acute, setting off alarm bells in high places. Finding a way out of this dilemma suddenly becomes URGENT!
Orders come with a rider: Let’s eliminate all tedious and injury-inducing jobs from our enterprise. It also comes with a plea, “please find an intelligent way”. It is time for Robotic Process Automation (RPA).
RPA fully automates the process of handling high-volume repeated tasks such as record keeping and maintenance, resolving customer queries, calculations and countless other tasks that are currently handled and mishandled by humans.
There are specific RPA tools that help you to configure software — a “robot,” in order to capture and interpret applications for processing transactions, manipulating data, triggering responses, and communicating with other digital systems.
By combining RPA processes, AI and machine learning techniques you take the path to create intelligent and very effective process solutions. Solutions that help you streamline business performance, create delightful customer experiences, and ensure smooth and efficient business operations.
While implementing RPA requires an initial financial investment, it will pay you back many times over by increasing the overall efficiency and productivity of your business like nothing else can.
As a matter of fact, implementing Robotic Automation in your business will enable 24/7/365 operational functionality at a fraction of the cost of employing an individual. And it doesn’t end with that. Administrative costs are reduced instantly and no additional back-office resources are required.
Amongst the biggest benefits of RPA integration is it does not require any Information Technology resources to drive it. Robotic tasks and workflows are inbuilt, inherently efficient and ensure 100% executional accuracy and availability.
RPA bypasses IT through its “View Layer” integration approach. This centralized engine is programmed to communicate and operate with existing applications at the desktop level and not the back office.
All RPA rules and workflows can be defined by anyone who can interact with a desktop, and deployed with very limited technology backbone. Alternatively, RPA can be integrated to run with enterprise-wide systems and applications.
What will you do with all the employees who might now find themselves with nothing to do? You just need to redeploy and redirect them to apply their skills and experience towards realizing the core business objective of driving innovation and growth. Which means you give an opportunity to make business critical outcomes happen and add value instead of being seen as a drain on resources.
By using RPA, operational processes can be assessed based on the performance data of your business. By creating a constant data-driven feedback loop, you get to monitor and ensure higher efficiency is realized because you are measuring everything in real-time. This cannot be achieved when it comes to appraising human operations.
Moreover, by integrating RPA technology within an enterprise infrastructure function, you enhance your ability to predict future results by optimizing business processes. Recent studies have confirmed that the use of RPA ensures 100% task compliance and adherence to data-driven regulatory standards.
RPA comes in handy when you need to automate the process of adding data or manipulating data at high speeds. This is called Surface Automation. Once integrated, RPA brings an effective and error-free way for accessing and working with data housed in any system within the enterprise.
Additionally, you can use RPA tools for document processing tasks. These tools can open a file, run through its contents, index and move files and can even send emails informing designated individuals about the changes being carried out. Keeping everyone concerned on the same page, at all times.
Robotic Process Automation leads to business success with robots performing even the most complex of tasks. Recent researches have confirmed that robotic process automation can help in successfully carrying out 87.5% of the tasks on their own without human intervention, and do this on-time, every time.
According to Forrester Research 2018, “CIOs should use robotic process automation to digitize and optimize operations, to create and act upon advanced insights, and to drive business technology innovation.”
The increasing demand for Business Process Automation through the use of Artificial Intelligence and Software, can be met by integrating RPA in the core business and enable a business to streamline its IT and business operations. Also, RPA can mimic the numerous skills of humans, while consistently carrying out prescribed functions and automatically scaling up or down to meet business demand.
Robotic Process Automation is today the fastest-growing segment of the global software market. Using this technology, companies are able to track their digital transformation initiatives and measure the efficacy of them in real-time and on the go.
While RPA is useful in all industries, the biggest adopters of this technology are banks, insurance companies, supply chain vendors, retail and logistics. These companies traditionally have numerous legacy systems still in operation and it becomes cost-effective for them to choose RPA solutions and extend the utility of outdated systems.
Finally, according to Global Market Insights Inc, the market for RPA is expected to reach $ 5 billion by 2024. And the fastest-growing region for RPA is Asia Pacific. Automation, which includes machine learning, robots, and AI are the strongest sectors for market growth in this part of the world.