How RPA can Help Your Business Grow
December 21, 2020
Talking about the latest technologies, we simply cannot think about leaving RPA behind. A technology that is changing as rapidly as the environment around us, RPA is growing and leaving a hefty footprint on many major industries throughout the world.
But what exactly is RPA?
How does it help grow your business?
How to choose the best RPA software for your business?
Let’s jump right in and find out answers to some of the most pressing questions arising with respect to this technology application.
What is RPA?
RPA - Robotic Process Automation, is a technology to automates business processes, uses business logic as well as structured inputs to help businesses improve efficiency at reduced cost.
It also offers a myriad of tools which further facilitate industries to carry on the following tasks:
- Communicate with corresponding digital systems
- Capture applications
- Manipulate data
- Trigger responses
- Process transactions
In an exceptionally small amount of time, a large number of organizations have come to realise the potential benefits Robotic Process Automation application has to offer. After careful analysis, many organizations have adopted RPA software and redirected many critical processes towards automation.
Bringing real time human assistance to handle all automated processes is another aspect of RPA. This angle is also known as RDA, which stands for (Remote) Robotic Desktop Automation and call centres are already utilizing it to improve their existing processes.
RPA – Why All the Buzz?
What are we if not digital beings?
While our roots are still to be found in landlines and postal letters, the coming and growing generations have no idea about any of those.
This is a digitalized world where much importance is given to the internet and the everyday changing and advancing technology.
Some of the biggest names today, like Amazon, Google, and Netflix owe much of their success to their borderline thought of having truly captured the essence of the digital trend. If you are to look closer, organizations now exist on the digital grounds and are blooming!
The digital concept of presence is moving markets and bringing about changes which were only thought of and written about in books about the future. But the time has come and in the coming years, it will only be pressed further.
Names like Uber are not only utilizing the digital platforms and the process of automation but are gaining huge profits from it. Infact, organizations of all sizes and nature are turning towards RPA technology and are reaping the sweet fruit of their smart decision.
What are the Leading Industries Using RPA Software?
Let us take a look at some of the industries which have adopted RPA automation and definitely are not going back on their decision anytime soon!
Robotic Process Automation has exponentially improved the efficiency and the performance across all business industries and processes. Since many processes are deterministic, repetitive and manual, over half of these can be automated with the implementation of rpa robots. Major industries using RPA are:
With a huge influx and outflow of cash and numbers on an everyday basis, banking makes up to be one of the most positively impacted industries through RPA.
RPA in Banking: No more slow processing time, no more human errors, better integrated network, and an easier flow and access to information, this technology application has really proved to be a streamliner.
Healthcare is listed under one of the most regulated and demanding industries, mostly due to the major data and numbers that are to be handled on a daily basis.
With the incorporation of Robotic Process Automation, consistently occurring tasks such as data entry, billing, claims processing, and patient scheduling have become automated, reducing time and error.
While the manufacturing industry has been using physical robots for quite some time now, RPAs have come about as another wave of blessing.
This automated application has helped a lot in closing the gap between ordinary activities like invoicing, payment & receiving, and quoting. Also, it has helped in strengthening the supply chain procedures.
Insurance of one of the industries which has many back-office tasks. Thus, with the RPA software becoming an imperative part of the domain, streamlining business processes has become a more achievable chore and has led to an increased client onboarding capacity.
While certain aspects like customer services are better left unautomated, there are many others which can and in fact, should be automated via RPA.
Data communication and operation efficiency are certainly the two aspects which can be made better with RPA automation.
Also, Read: How can RPA be Helpful in Recognizing and Fighting Off Fraud?
Trends Involving RPA: How Major Industries are Adopting RPA
One can simply NOT argue with the fact that automation has made human life exceptionally easy.
Many organizations have come to terms with the benefits and perks that come along once they adopt the process of automation in their day-to-day working.
As the decade turns, we are yet to look at an even brighter side of this automation software. And with the turn, we are also expecting a more broadened and far-fetched use and implication of RPA in multiple domains.
The time and efforts made by humans can be minimized by using automation for the same workload, especially in procedural and rule-based tasks.
Major Benefits of RPA Systems: Measured and Non-Measured Benefits
With a technology with as high a calibre as the one we are talking about, there got to be numerous benefits.
While stating all of such benefits is not possible, there are some we can definitely jot down.
When we say measured benefits, we are mostly referring to tangible benefits – those which can be measured in numbers and represented in graphs with 100 percent guarantee.
On the other hand, non-measured benefits or the intangible benefits are those which we know have occurred but cannot be backed by solid proofs or figures, such as customer experience.
Here are some of the most commonly experienced benefits of RPA applications:
→ With certain processes becoming digitized, the turnaround time reduces.
→ With automation becoming an integral part, compliance requirements are met most times.
→ As per the business demands, automation process can be swiftly scaled to suit.
→ There has been a significant reduction in the expenditure with the installation of automated software.
→ While being an intangible benefit, it has still been found that deploying RPA caters to better customer experience.
List goes on, these are only the tip of a huge iceberg submerged underneath!
How to Choose the Best RPA Tool?
For every major technology, you will find a tough competition in the market as to get to the top position.
The same is the case with RPA.
With the RPA Technology spectrum growing and expanding every minute as you read, there are some rpa tools which are dominating the market and then there are some which are giving them a very tough competition.
Automation Anywhere, Blue Prism, and UiPath are amongst the leading names.
Here are some key features on which they are mostly judged:
→ Ease of Use
→ Ease of Implementation
→ Technical Features
→ Exception Handling
→ Ownership Cost
Which RPA Software is the Best?
Depending upon the needs of your business and taking into consideration the features and advantages of top RPA tools in the market, you can choose your RPA software.
After all, what suits you the best, is the best!
Are you a technology enthusiast?
Check out our RPA tools comparision Automation Anywhere vs Blue Prism vs UiPath
Each article will showcase the said tools in the real light where their pros and cons will be bifurcated for your better understanding!