Robotic Process Automation (RPA) is an emerging process of automation technology based on the impression of software robots and artificial intelligence workers. It is a form of automation which has been positioned under the concept of screen scraping. RPA is believed to be a significant technological expansion of this technique in the sense that new software platforms are emanating which are sufficiently reliable to make this approach viable for operations in renowned enterprises.
Just like humans, Robots perform on a vast range of regular tasks, software robots interpret, trigger responses and communicate professionally with the systems. Enabling RPA to hold any processes will not only transform and design the organization’s workflow. It will allow for quality scalability and flexibility inside out the enterprise which can tailored to the specific needs. The superior thing about software robots are they are easy to train and they integrate swiftly into any system. They consistently update their progress reports to go even better and bigger by using operational and business predictability while improving logically.
Robotic Process Automation contributes in various specific technologies that can automate mundane, routine, creating higher productivity, standardized tasks as well as value with lesser investment.
This system is rapidly gaining popularity, predominantly in the banking and finance sectors due to the large volume of transactions and the great benefits that can be realized within a short time frame. The magnitude of the benefits of automation is directly proportional to the incremental improvement in the manual processing hotspots. The RPA platform provides your business with the scalability needed to stay, perform and sustain on top of your game.
Here are the advantages of robotic automation-
Efficacious Costing- As per the estimated act robotics cuts operational costs by 25-30%. Robots are better enough to operate 24/7 according to the charging process and take no vacation when compared to humans who work 9-5 and also have a pre-fixed number of annual leaves each year. Having robots take over some of the manually intensive work from humans could result in visible gains for the business. Automation can help you recover the cost within a short time span and from then on, it is all only about gains.
Faultless & High Quality- RPA offers improved services to processes that have a high probability of human error, thereby increasing accuracy. Robots are reliable, and consistent and do not whine when expected to work tirelessly. They also reduce the cases of re-works and improve the output quality drastically. The best part here is that robots follow all rules to the dot, thereby producing 100% accuracy in the process results and let’s not forget what adds more sweetness to this deal-the fast implementation of this technology. RPA optimizes capabilities that multiply the organizational capacity.
Consistency- Robotics is a safe, non-invasive technology that doesn’t interfere with the inherent systems and provides a perfect consistency in performing the activities across the board, each time and every time.
Enhance Analytics- Having access to error free, accurate data from various sources would improve the quality of analytics in the process. This leads to better decision making and overall, to the betterment of the process execution.
Employee Productivity- RPA ultimately facilities humans and robots to do just what they excel at. As RPA frees the employees from their mundane tasks, they can focus more on client and customer interaction, relationship management and other such activities where humans naturally excel at. Having satisfied clients and customers only mean better business.
Customer Satisfaction- Delivering better quality of work with high accuracy and improved customer/client interaction leads to increased customer and client satisfaction. This only adds to the goodwill of the business.
Faster- As bots are handling the execution here, a larger amount of work can be done in a relatively much shorter period.
Restoration from Multiple Systems- RPA makes the tallying of data and information from multiple systems possible which generates information that helps with the integration of process.
Multiskilled- RPA is applicable across industries and has the ability to perform a wide range of tasks. Any process that is rule based and can be defined and is repeatable makes an ideal automation candidate.
Better IT Support And Management- RPA improves the operational quality of the service desk and monitors the network. This enables companies to handle short term spikes without having to recruit extra staff or train them. As this advanced technology is revolutionizing process efficiencies and increasing productivity across companies, it is changing the way various businesses and business models are run. Analysts are even suggesting that RPA is creating a second parallel economy that connects to the physical economy in concurrent systems to speed-up and optimize knowledge work. Time for you to bring your business onboard and join the biggest change ever.