What Are the Business Benefits of RPA?
What is RPA?
RPA- Robotic Process Automation is a technology through which building and managing software robots have become easier. With the use of RPA, users can create software robots, which can execute rule-based business processes. Through automation, users can also create bots that can operate by observing human digital actions.
Just like humans, these robots are designed to understand what’s on the screen, navigate the system, extract required data, and perform the defined action. These bots have an upper hand when compared to the human force, as they can go for hours without a break. The major advantage of RPA(Robotic Process Automation) is that it can streamline workflow and directly aid the profitability and responsiveness of the organization.
Where is RPA used?
With the advancements in the RPA, the use has been increasing and is now replacing humans from different industrial processes. From manufacturing to healthcare service, from the public sector to retail, many of the sectors have been benefited from RPA within different functional areas.
Benefits of RPA
Small businesses are the pioneer of the upcoming wave of digital transformation by adopting RPA. Implementation of RPA in small businesses can bring in better business decisions and also reduce human cost, human error and save time by automating the process.
- Cost Saving
- Increases employee productivity by removing monotonous tasks:
- Increased productivity
- Quick Implementation
- High Accuracy
- Security
- Enhance Customer Experience
- Record Keeping
Now, let’s see how these benefits of RPA in detail:
- When it comes to business, every penny matter, wherein a small business the intensity hikes up. When used effectively, the RPA saves a huge amount of money. It is estimated that RPA can save up to 20-30% of the operational cost.
- When robots take over the simple, repetitive tasks, the employees are freed up for higher-level work. This keeps them more engaged with the revenue-generating tasks and also the additional cost/ man-hour is reduced.
- When compared to the manual workforce, RPA enables the user to enjoy increased productivity. RPA can work for 365 days, without break. For small businesses with high output volume investing in RPA could be a great initiative.
- While traditional automation required developers to customize the integration and platforms, the smart robots learn to use the existing system.
- Human errors are eliminated when RPA is used, but it doesn’t come easily. To gain high accuracy highly intense testing and governance are required. Once the process is optimized and implemented in RPA, there won’t be any errors.
- As RPA functions in a single task, there isn’t a necessity to worry about information leakage. The access to control the data can be restricted to selected people.
- RPA enhances the customer experience by offering real-time access to the customer. The bots are also designed to process a basic transaction faster by streamlining various application-based activities.
- The smart bots can retain the log of all the actions they performed. Such accurate documentation can help the business to keep a track of everything, and data can be retrieved in case of unexpected outages.
Industry Wise Application of RPA
- Healthcare: Bots can simplify appointment scheduling, diagnosis data, doctor availability, location, etc.
- Manufacturing: RPA can be used in optimizing different processes in production, order fulfillment, or shipping.
- Government: Implementation of RPA can help the government agencies to catch up with their backlogs and optimize compliances. Government agencies have a large number of confidential documents, which can be managed easily by RPA.
- Education: Smart bots can reduce the monotonous work in the enrollment process, by checking the application form, validating documents, etc. It can be used in grade entry and drafting report cards.
- Finance: RPA can help the new suppliers with a full report on credit score, tax, etc.
- Energy: Automation can improvise on the customer experience by managing utility transactions and meter reading effectively.
Why should I adopt RPA?
RPA is being implemented by various industries to accelerate the digital transformation and has been proved to be ideal for automation where there is a lack of APIs, virtual desktop, infrastructure, or database access. Automation has helped businesses to deliver with greater efficiencies and better value for money.
Get yourself a strong IT & Data solution provider, who guides you through the need to analyze and be a part of this tricky decision.
