Information technology has helped businesses climb up the ladder of success, more than ever before and it is largely via robotic process automation.
So, what is robotic process automation all about? The RPA analyses the current business processes and replaces them with exemplary services which are faster, extremely efficient, and at the fraction of the existing processing cost, what you can even call pocket-friendly electronic alternatives.
The brand new upgrade to automation is robotic process automation (RPA). So should you choose RPA over regular automation? Yes, certainly as it takes less time and money, not only that, but it is also much more flexible, and it scores high in both accuracy and efficiency at par with traditional automation projects.
In a nutshell, Robotic Process Automation is a great technology which caters to business operations in a number of services in industries such as Banks, BPO, Telco, Energy and so on to innovate their processes and drastically reducing operational costs at the same time.
Benefits of RPA Services
Tedious repetitive tasks not only take more time but lags behind in operational efficiency, this is where RPA steps in. It increases operational efficiency by completing repetitive tasks using a software agent, or “robot”.
Each of the robots performs the required series of steps with a great deal of speed and accuracy and obviously beats the human personnel in this. It naturally achieves the required outcome at a much lower cost.
Instead of human workers spending their precious time manually feeding data and sorting out documents this includes combining documents, copying them and transferring files, or verifying the fields in different forms or databases to cater to different business requirements. It goes without saying all these tasks will be performed much more competently by robots.
These robots can deliver round the clock at the highest level thus able to beat the humans by 500 to 1000 percent.With boring and tedious tasks out of their way, the humans can concentrate on tasks which enable them to invest in complex tasks that require more creativity.
The data-driven business roles like F&A, HR, Operations, and IT, is gaining more traction and is popular in organizations such as financial institutions, law and accounting firms, insurance companies, and also hospitals.
How RPA beats conventional automation is that it offers a very high ROI over the long term and it includes,
- It minimizes delays and processes times by 5 to 10 times.
- Robots are so equipped that they can perform duties round the clock, thus scoring on availability over a human in this respect.
- It also reduces operating costs with a value-driven pricing structure.
- It can be deployed in days and weeks.
- Adopts to underlying processes or systems.
- Robots do not require API-level interfaces, they are trained at the GUI level.
- Robots take less time and investment to retrain on new processes and systems than humans.
- As RPA reduces human access to business data it significantly improves information security.
- Slashes down business risks by complying with business norms.
- Automated procedures can be audited completely.
- Humans can finally find job satisfaction as they can concentrate on creative jobs instead of concentrating on repetitive boring work.
RPA is a completely enterprise-ready solution. Analytics and reporting are significantly simplified, where the robots are assigned to each process automatically. Making the choice of RPA services and then choosing vital real-time statistics by sending notifications to their human supervisors of any processing exceptions, is an integral part of the whole procress.
Industry research has proved that Robotic Process Automation (RPA) can save costs by 25-50% cost savings thus improving efficiency and accuracy. That said, virtual workers can also be deployed 24/7 thus reducing latency and shooting up productivity levels.