As technology evolved, something called Robotic Process Automation (RPA) came into the picture. RPA is popular among businesses because it not just reduces human effort but also helps in achieving higher accuracy, improves productivity, and overall, can lead to higher customer and employee satisfaction levels. So, what is RPA, and what are its benefits?
In simple terms, automation refers to tasks that were earlier done manually but now are replicated by electronic devices, robots, or machines. Automation can help businesses scale rapidly by reducing dependence on human inputs and works exceptionally well in the case of repetitive and mundane tasks, resulting in increased productivity and efficiency. Over the years, we have seen automation being used not just in business but also in our daily lives – for instance, placing a “subscription” for milk or medicines or even groceries on your favorite e-shopping app or setting up “auto-pay” of your bills. These are simple and overlooked applications of automation. RPA is only going to grow rapidly from here on, with Gartner predicting that nearly 69 percent of management tasks will be fully automated by 2024.
RPA (Robotic Process Automation)
At its core, RPA is a software bot (short for ‘robot.’) It is a process that automates any pre-determined, manual, rule-based, or repetitive tasks using Artificial Intelligence and Machine Learning capabilities. Like humans, software robots can manage high-volume repetitive tasks such as understanding and identifying data, addressing queries, making calculations, and performing transactions. These software robots can run on both virtual and physical machines.
Digital Transformation with RPA
Digital transformation has revolutionized how we communicate and consume information, opened vast business opportunities, and made it easier to operate effectively and profitably. It is changing the business perspective toward innovation by continuously creating and improving new business processes and models, improving operation efficiency, and customer experience.
Robotic Process Automation gives the most effective solution to industries by helping them overcome challenges such as customer experience, data accuracy and management, talent shortage, and cost escalation.
So, while software robots automate tasks, humans can focus more on aspects of their work that a robot cannot do – such as ones that rely on high cognitive ability and/or creativity such as problem-solving or innovation. This way, the business gets a boost of higher productivity and resilience, while also accelerating its innovation cycles.
RPA Use Cases
Thousands of automated solutions are available to cater to different business process needs. Enterprises ranging from healthcare, manufacturing, and retail to the public sector and far beyond have implemented RPA in areas such as finance, human resources, customer service, operations, and IT. Things are just getting started!
RPA gives the highest ROI in enterprise functions that are virtual, high volume, business rule-driven, and repetitive. Here are some use cases in different industry-related scenarios:
- RPA can automate the manual task of closing and opening a bank account. The bot can process a request for a bank account creation by collecting the client’s data sent in a digital format.
- Bots can initiate the salary credits and validate client data.
- RPA has made the loan and validation process quicker by producing a summary of data that enables the bank worker to take prompt action on a loan.
- RPA reduced the loan approval time from 2-3 weeks to seconds.
- Transferring data from paper to an electronic health system is a manual task that takes valuable time and energy; hence, healthcare deals with lots of paperwork. Optical Character Recognition (OCR) technology is used in healthcare to scan written forms and blanks, a crucial feature of RPA, so data transfer happens in seconds.
- The bot can also notify the patient to schedule an upcoming appointment.
- A large amount of data gets generated by electronic wearables in a remote patient monitoring system. RPA can be used to perform a preliminary analysis of this data and send it to the doctor, who can easily track the patient’s status.
- RPA helps check inventory, customer data, and billing information whenever a customer wants to return an order.
- Bots can perform many tasks by deploying chatbots to assist customers. Using RPA to automate customer interaction saves agents’ time to focus better on critical customer interactions.
- Most often, resumes have data that is semi-structured; RPA collects this data and creates a list of employees, this way, it simplifies the recruiting process.
- RPA helps spend less time sourcing and assessing candidates and offers a better onboarding experience.
- It makes payroll easier and faster.
How RPA Service Providers Can Help
RPA Service providers can help before the project rolls out and save businesses thousands of dollars. These service providers are professionals with years of experience and a deep understanding of technology and processes. Thus, in particularly complex scenarios, their expertise can help companies save weeks, or even months of effort right at the planning and development stage.
The service provider can help you choose the right RPA plan for your business by:
Selecting the proper process for RPA that suits your business needs and brings ROI.They choose the right automation tools based on their strengths, capabilities, and weaknesses.Overall project time reduces as RPA service providers already know the best practices and approaches to achieve the best results.
Choosing the Right RPA Service Provider for your Business
If you are considering appointing a service provider for your business, look for an RPA service provider with experience in implementing the specific technology, certification, and capability to deliver business requirements.
An RPA service provider well versed in industry-specific needs will be able to better access business and your position and provide tailored-fit solutions.
RPA service providers who are already aware of your business and another technology initiative you currently manage will be the best fit for this role.
Remote Process Automation is necessary for digital businesses to run error-free, save time from repeated tasks, and understand customer needs and market sentiment for sustainability and growth. Therefore, RPA is used in different industries to reduce human efforts, decrease overall costs, and increase ROI.
eInfochips helps enterprises adopt a long-term process automation strategy that aims to implement intelligent automation solutions that combine RPA and AI capabilities. eInfochips provides RPA consulting, proof of concept, RPA deployment, RPA tool migration, and cognitive RPA services in various industries and domains. In addition, EIC takes traditional RPA further with cognitive RPA by enabling organizations to automate processes that include unstructured data sources.
Contact us to learn more about our critical Robotic Process Automation Services offerings: https://www.einfochips.com/contact-us/.