Robotic Process Automation is the technology which allows businesses to develop such software that can mimic the actions of human employees while interacting with the digital systems. These types of RPA software use Artificial Intelligence and its subset Machine Learning. They have the ability to handle many high-volume repetitive tasks in an accurate and consistent manner. In other words, RPA mechanizes monotonous assignments in a much more efficient manner. The tasks that the RPA carries out include maintaining records, transactions, calculations as well as queries.
It should also be noted that the RPA software does not form a part of the IT infrastructure of the organization. Instead, it helps the company in the efficient and quick implementation of the technology without modifying the existing systems and infrastructure.
Benefits of Employing RPA Software
RPA mechanizes monotonous assignments and helps the organization to rework their processes, products as well as the strategies, by using the current technologies that they employ, known as Digital Transformation (DX). The other benefits of RPA are:
- Customer Service: RPA helps the organizations to automate the contact center tasks, which include the verification process for the e-signatures of the customers, uploading the various scanned documents as well as verifying huge quantities of data to be automatically approved or rejected. This leads to an improvement in customer service by increasing its speed, efficiency, and accuracy.
- Accounting: RPA can also be used for accounting purposes such as recording the transactions, maintaining ledgers, general accounting, preparing cost sheets and other financial statements as well as in budgeting. This can be done in real-time with 100% accuracy.
- Financial Services: In addition to the accounting tasks, the RPA can also help the organizations with other financial services such as payments in foreign exchange, opening and closing of accounts automatically, processing the insurance claims for the insurance companies, as well as in managing of the audit requests.
- Healthcare: Even in healthcare organizations, RPA can be instrumental in the day-to-day workings by handling patient records, account management, customer support, reporting, billing as well as the other analytical processes.
- Human Resources: The human resources task of the organization, such as onboarding and offboarding, monitoring the timesheets of the employees, and updating the information, can be carried out by the RPA software by automating them.
- Managing the Supply Chain: There are several processes in the supply chain, such as procurement of raw materials, processing the orders, tracking the inventory and shipment as well as payments, which can be carried out automatically by the RPA software, thus, reducing the time taken in these processes as well as monitoring the supply chain in real-time with more accuracy and efficiency.
Why Is RPA Gaining Popularity?
RPA software is different than the traditional IT solutions available to the organizations. It organizes the processes in the organization in a much more cost-effective and quick manner. Since RPA uses the existing IT infrastructure of the organization it is non-intrusive and does not cause a disruption in the working, or to the underlying systems, thus saving huge amounts on replacing the infrastructure. The RPA software is much more aware of the changing situations and can adapt to them. The software needs only little training before it can capture and analyze the data, manipulate it, set off responses and start new actions. They can also communicate with the other systems in the organization of autonomously.
RPA In to the Employees
In the organizations which have various complicated systems, the RPA can take off the monotonous workload of the employees, thus allowing them to focus on those processes which need human touch, such as managing the customer relationships. Since the RPA software can adapt to the new circumstances, it can learn from the inputs and modify itself based on them, without human assistance, it not only saves the time and effort of the employees but also assures the accuracy of the software.
Features to Look For in an RPA Before Choosing One
An organization can benefit immensely by introducing RPA software to automate the repetitive processes as RPA mechanizes monotonous assignments at a fraction of the cost and allows the employees to focus on other labor-intensive processes. The software also guarantees higher efficiency and accuracy than if the work was done by an employee. There are a few features that the organization should look for in an RPA software before choosing one:
- Scalability: Organizations should choose such RPA platforms which can be managed centrally in addition to scaling massively.
- Speed: In addition to the RPA working quickly, it should be easy to design and then the testing of the robotic processes should take less than a few hours.
- Reliability: The RPA software should also have the feature of built-in monitoring so that the health of the systems can be monitored.
- Simplicity: Moreover, it should be simple so that all the employees can build it as well as use it.
- Intelligence: The software should also support easy activities such as reading or writing to a data source and be able to adapt to new and unexpected circumstances.
- Enterprise-class: Organizations should purchase the software which are specifically developed for scalability, manageability, and reliability keeping in mind the organizational needs.
Automation software such as RPA are slated to grow in the upcoming years and may even replace hundreds of millions of full-time employees worldwide. However, there will be several new jobs created for maintaining and improving the software.