The increasing popularity of Robotic Process Automation (RPA) in the last few years is not without a reason. A good number of reasons we would say. RPA is said to revolutionise the way modern businesses are functioning. A game changer. If set up right, it could lift up your company’s productivity and profitability.
But what is RPA and why should you consider implementing it? Let’s have a more in-depth look.
What is RPA?
Robotic Process Automation is an approach to the business process automation where bots mimic and perform a variety of repetitive tasks that are usually done by humans. It is based on well-defined rules. And once these rules are correctly set up, the RPA process can cover a range from a simple task such as generating automated email reply to more complicated scenarios such as processing invoices or loan requests. Moreover, it could do it repeatedly for an unlimited period of time.
RPA achieves the next level of automation which leads to a significant improvement of the organization’s processes and brings a number of advantages for your business.
What are the benefits of implementing RPA?
Manual processes are slow, inefficient and prone to errors. They lead to increased employees’ dissatisfaction and decrease company’s overall performance. By implementing RPA solutions organisations easily overcome these issues. Here is more detailed overview of some of the main advantages that RPA offers:
- Improved employee’s performance. By assigning administrative and repetitive work to the RPA bots, organisations allow their employees to focus on more creative tasks that require cognitive efforts and a human touch. This significantly increases employees’ satisfaction and their overall performance.
- Optimized processes. Bots don’t get tired, sick or bored. They can execute a given action 24 hours a day, every day and they can do it fast. As a result, RPA agents significantly reduce operation time of various processes and thus are ideal for performing recurring tasks.
- Minimized human errors. RPA bots automate rules-based processes. By following the exact same steps each time, they execute a given task, they scale down the errors near to the zero. As reported by Human+ in some cases in the insurance sector RPA leads to increased accuracy of claims data from 45% to 95%. The remaining 5% of errors are due to input errors.
- Reduced costs. The optimized processes and improved data quality lead to reduced costs and increased profitability. According to the Deloitte Global RPA Survey RPA could lead up to 59% cost reduction.
In conclusion, Robotic Process Automation enables businesses to innovate and excel. It delivers direct profitability while increasing accuracy and productivity across organizations.
Despite its significant advantages though, RPA requires careful planning and implementation. With the support of an experienced partner, this process could be smoothly executed and bring the expected results almost immediately.