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Robotic Process Automation (RPA), also referred to as software robotics, is a software technology that makes it easy to automate digital tasks. You can create bots (software robots) that can learn, mimic, and execute rules-based business processes. More and more businesses are adopting RPA to eliminate mundane, tedious tasks, freeing workers to focus on more valuable work.
How does RPA work?
RPA bots can learn and mimic the same digital skillset as people and more. They are like a digital workforce that can work with any system or application. Unlike human beings, software bots have greater accuracy and speed unmatched by any human.
These software bots can work directly from an app’s user interface, mimicking the actions of a human being. For instance, just like a human, these bots can log in and out, copy and paste data, open emails and attachments, and fill out forms.
Unlike macros, which follow a pre-determined script of fixed commands, RPAs are more intuitive. They learn over time and respond accordingly to changes in business processes. They can also interact with multiple apps at once, simplifying the way users automate tasks. These bots are easy to set up, use, and can be scheduled, cloned, customized, and shared to execute business processes throughout the organization.
What are the benefits of RPA?
Robotic Process Automation can deliver measurable business benefits and continue to add value as it spreads across the organization.
Here are the various benefits of RPA:
- Increased productivity
RPA bots can accelerate workflows and get more work done by executing processes independently. In sectors like insurance and financial services, where there is a lot of documentation work, RPA bots can help fill out forms and process claims- all hands-free. Employees, thus, can utilize their time in doing more valuable work, increasing productivity in the workplace.
- Better accuracy
RPA bots are extremely accurate, which means that there is no rework and complete compliance. Industries like finance, healthcare, and life sciences have benefited from RPA bots to achieve strict compliance standards. It has also helped achieve new levels of speed and accuracy in order-to-cash and procure-to-pay processes.
- Drive ROI (Return on Investment)
Due to its code-free interface, almost anyone can master bot creation and help drive ROI. With RPA bots, nearly 40% of an employee’s time can be saved, which was otherwise wasted on manual administrative tasks. In the healthcare industry, RPA bots are of even greater value, since it benefits more from error-free, compliant process execution to patient outcomes.
- Works on existing systems
There is no need to replace or upgrade your systems for RPA bots to work. Any enterprise can eliminate technology silos as these bots can seamlessly connect across all software tools irrespective of the function or department.
- Improved customer experience
RPA bots can help front-office executives to interact with customers by doing all the data entry work, reducing the call handling time, and improving customer experience. Several industries like telecommunications and life sciences use RPA bots to streamline the customer inquiry handling process. These bots are also extremely helpful when it comes to handling spikes in call volumes.
- Harness AI (Artificial Intelligence)
You can combine RPA with Artificial Intelligence to create Intelligent Automation, which creates smart business processes and workflows capable of thinking, learning, and adapting on their own. In procure-to-pay processes, Intelligent Automation can be used to automate invoice processing of non-standard vendor invoices. In the insurance industry, it is possible to automate claims data extraction and fraud detection through Intelligent Automation.
- Scalability
With Robotic Process Automation, you can enable high-volume business processes to adapt to changing work environments. RPA helps you expand your digital workforce helping you handle planned and unplanned workloads as required.
RPA empowers your workforce to automate on their own, in real-time.
Last modified: February 24, 2021
