Robotic Process Automation: What Is It and What Are the Benefits?
Robotic process automation (RPA), also known as software robots, refers to software applications that are programmed to conduct business processes automatically, similar to how a human would do the same task.
RPA aims to improve productivity and efficiency in an organization by automating routine business processes such as data input and retrieval, document creation and management, or payroll processing.
With so many advantages and benefits, it’s no wonder that many companies are now turning to RPA as one of their solutions to help them achieve success in their business operations.
Robotic process automation, or RPA, is growing in popularity as companies seek more efficient and less costly ways to deliver business value. But what exactly does RPA do? What are the biggest benefits of RPA? In this guide, we’ll discuss the answers to these questions and much more about this powerful technology that continues to transform the landscape of business process management (BPM) solutions.
What is RPA?
The next generation of automation is here, and it’s more dynamic than ever. Robotic process automation (RPA), unlike legacy forms of automation technology such as robotic manufacturing or assembly lines, doesn’t rely on hard-coded rules to drive processes. Instead, RPA mimics human actions like dragging a file into an application or clicking a button in a browser to drive processes by using artificial intelligence (AI).
With RPA, organizations can automate repeatable tasks that people do manually — usually behind a computer screen — to free up time for higher-value activities. The benefits of Robotic process automation are endless. From cost reduction to faster onboarding processes for new hires. Many companies see employees spending anywhere from one hour per day up to eight hours per day performing manual tasks that could easily be automated with RPA software. This translates into wasted resources and lost opportunities for increased revenue streams and sales.
For example, when DHL used automation software developed by Blue Prism to automate its shipment tracking system, it was able to reduce staff hours needed for certain processes by 80 percent while increasing accuracy rates by 100 percent. That’s huge! No wonder Business Insider Intelligence predicts that over 70% of enterprises will use some form of AI within their business operations in just two years’ time!
How Does It Work?
Rather than hiring a new employee to perform a specific task or process, companies are turning to RPA. This technology automates business processes by simulating user actions on their computer systems in real time.
With RPA, you can deploy software robots that execute repetitive tasks by interacting directly with applications. It’s sometimes referred to as cobots because it requires both human workers and robots to work together in a symbiotic relationship.
Most of us have seen examples of cobots in real life; they are often found at fast-food restaurants, where they work behind counters alongside restaurant employees. They never ask for vacation time or sick days — and they never call out sick!
In fact, RPA can be used across an entire organization to automate manual processes, freeing up your staff to focus on more important matters. The result is increased productivity and efficiency. And while some people might fear losing their jobs due to automation, don’t worry — there will always be a need for humans in any workplace.
But with automation tools like RPA, humans will be able to focus more energy on higher-value activities like problem-solving and strategic planning rather than performing routine tasks over and over again.
How can I get started with RPA technology in my business?
If you’re just getting started with RPA technology, there are a few essential things to consider. First, remember that while robotics is in its name, robotic process automation doesn’t actually require robots. It simply refers to software used to automate tasks — and as such, it can be performed by humans or machines.
However, given that RPA is still a relatively new technology, businesses often struggle when deciding how they want to implement it within their organization. To help ensure your RPA implementation goes smoothly, ask yourself these three questions first:
- Do I have an end goal in mind for my implementation?
- How much risk am I willing to take on?
- How will my business change once we’ve implemented RPA?
Once you answer those questions, it’s easier to decide if you’d like to go about automating processes internally (i.e., hiring employees) or externally (i.e., outsourcing).
Top 13 Benefits of RPA
Here are the top benefits of RPA that will help users to figure out the technology better:
- Savings in Time, Money & Resources with RPA:
One of the biggest benefits of Robotic Process Automation (RPA) is its ability to reduce cost by eliminating wasteful manual processes. With RPA, companies can reduce the annual costs of hard-to-replace employees by moving their work to a more automated process. This reduces business downtime and saves money for your company.
- Improved Customer Experience with RPA:
Robotic automation can help you improve customer service by providing faster response times with higher accuracy rates. By using technology to perform repetitive tasks that human workers previously did, RPA increases throughput speed while providing customers with a personalized experience.
- Increased Employee Productivity with RPA:
Since robotic automation frees up time for employees to focus on more meaningful work, it’s possible to increase employee productivity. And since RPA performs tasks like data entry at high speeds, errors are reduced which leads to fewer mistakes and improved quality control.
- Streamlined Business Operations with RPA:
Since robotic automation takes over some of your company’s most tedious jobs, it frees up time for employees who were performing those duties to take on new responsibilities or tackle existing projects from a different angle. As a result, there’s an overall improvement in how efficiently your business operates as well as how quickly it adapts to change.
- Reduced IT Costs with RPA:
As businesses rely more heavily on technology to run day-to-day operations, they often face steep costs when upgrading systems or adding new features. Using robotic automation allows your company to avoid these expenses altogether because it doesn’t require additional hardware upgrades or IT support staff members.
- No Downtime Required for Implementation of RPA:
If you want to implement a software solution into your workflow, then you need to be able to trust that it will be available when needed. Because robotic automation runs 24/7 without any need for maintenance windows, users can rest assured that their software will always be accessible and ready when needed.
- Improved Accuracy Rates with RPA:
A major benefit of robotic automation is its ability to cut down on human error rates. When humans perform a task repeatedly, they tend to become less accurate over time. But robots don’t tire or make mistakes so no matter how many times your team uses them, you can count on them to deliver flawless results every time.
- Accessibility Across Multiple Platforms with RPA:
Companies typically use multiple platforms across mobile devices, laptops, and desktops — all of which must be able to communicate seamlessly with each other if the information is going to flow freely throughout an organization. RPA provides the flexibility to integrate with all of your platforms, regardless of the device or operating system.
- Security and Compliance with RPA:
Many industries have strict security and compliance regulations that govern how data can be handled. RPA helps your organization meet regulatory standards by ensuring that sensitive information is handled safely and securely throughout the entire process.
- Real-Time Data Capture with RPA:
Most robotic automation solutions provide real-time reporting capabilities, allowing you to track progress throughout a project and stay on top of deadlines. The reports can also help you identify bottlenecks within your workflow so you can optimize efficiency for future projects.
- Scalability with RPA:
As your company grows, so does its need for automation. Robotic automation is scalable and can easily be expanded to accommodate growth.
- Reduced Risk of Errors with RPA:
Since robotic automation can eliminate human error, it’s the ideal solution for tasks that have a big impact on your bottom line. Whether you’re processing payments or handling personal data, robotic automation will ensure that everything is done accurately and in a timely manner.
- Improved Workflow Efficiency with RPA:
Without having to worry about hiring new employees or outsourcing work, your business can reap the benefits of increased workflow efficiency. Robotic automation frees up time for employees to spend on more important tasks while increasing throughput and reducing costs over time.
Conclusion
From this article, we conclude that RPA is a powerful tool for businesses. If you’re looking to automate your business processes, RPA might be an option worth exploring. The benefits of RPA are numerous and include cost savings, increased accuracy, improved speed, increased transparency into business operations, reduction in human error, better customer service, and more. If you’re looking to implement RPA at your company or would like to learn more about how it can help improve your business operations.
