With the technological advancements on the rise in the IT industry Robotic Process Automation (RPA) is the new murmur around. This advancement in technology has brought about a remarkable change in the functioning of IT operations and a change in the traditional methods of working in organizations is seen. The term Robot in a layman’s language will bring to you in mind a picture of a robot doing some laborious physical task such as cleaning a house or garage or lifting and unloading heavy goods. However, in the virtual world the scenario is entirely different
The term Robotic Process Automation (RPA) is not a physical robot but a virtual system that is well equipped to efficiently automate repetitively manual computing as well as business process tasks. A research conducted in the recent past in March 2017 revealed that the robotic process automation market might reach at a CAGR of 30.14% between 2017 and 2022. It was forecasted that major factors that would drive the market growth are ease in the operational functioning of business processes due to robotic process automation.
Why opt for RPA?
In the IT world it is not possible to independently handle the business processes intelligently. In most cases, many of them are dependent and cannot function without the support of multiple IT systems. Mainly humans are dependent for help for mundane repetitive laborious tasks that need specialized expertise and are time consuming. However, with the current advancements in automation methods, it will take massive developmental changes in IT transformation plans and implementation processes. This is where the relevance of Robotic Process Automation (RPA) stems in.
RPA possesses the ability to automate the most tangible integration with optimum ease.
As compared to humankind almost all the repetitive, mundane, and rule based tasks can be quickly and tirelessly automated by the RPA. It makes utmost usage of a machine (robot) to mimic human interactions and helps automate the tasks.
RPA an economical outburst
RPA certainly is and economically efficient choice to make from among the many automated solutions that exist currently. Human beings by implementing RPA have shifted their focus more from the routine business processes to repetitive tasks that would eventually require emotional intelligence, reasoning, judgement, and communication skills to interact with the customers.
Know the benefits associated with RPA
Count on RPA for improving your business efficiency, securing data, and positively improving the existing infrastructure and automating the repetitive tasks in an organization with optimum precision and ease.
RPA makes the implementation faster, accurate, and easier. Moreover it is highly flexible and scalable and can be measured to improve regulatory compliance. Lastly, it’s highly cost-effective.
Also Read: RPA to Improve Contact Center Performance
Areas wherein RPA is applicable:
Finance Sector: RPA can be effectively used to automate the tasks including account closure and openings. The official needed at billing desks is not needed, also an official to manage audit requests, for foreign exchange payments and for smooth processing of insurance claims have now been put to rest with existence of RPA.
Accounting: All kinds of accounting processes that involves operational accounting, general accounting, and all reporting concerning transactions planning and budgeting too can be conducted through RPA.
Human Resources: RPA is well equipped to handle all tasks in an HR organization such as on boarding, off boarding, Timesheet management, and so on.
Healthcare: RPA can play a significant role in the healthcare sector and maintain patient care record handle claims, account management, take accountability of billing, reporting and analytics and offer customer support service.
Supply chain management: In supply chain management industry RPA involves automation of order processing and payments. It can also handle procurement and monitor inventory levels. It can also be used to effectively track shipments to ensure on-time delivery of materials.
Customer Service: Customer service experience has been redefined by RPA as it can automate all the contact center tasks that were earlier manually done. Processes such as uploading scanned documents, verifying e-signatures, conducting verifications/approval or rejection and much more can be done by investing in RPA.
RPA and Intelligent Automation
RPA today is the buzzword in the world of Intelligent Automation (IA). Robotic process automation combined with Artificial Intelligence has brought about a substantial change in many processes. It has brought about a phenomenal transition and from being mere ‘doing’ machines RPA has actually evolved to be thinkers, ‘learners’, and ‘adapt’ machines that are capable enough to anticipate the needs and requirements and act accordingly. RPA has the power to manage virtually customers and enhance the interactions on this platform. RPA has intelligent search and self-learning capabilities. RPA today is no longer an alien concept and many efficient businesses and IT oriented process are making use of the same fast growing technology in all the possible sectors to reap the benefits.