What Is Robotic Process Automation?
Far more than just an industry buzz phrase, robotic process automation (RPA) provides a way for your business to automate mundane processes with software that typically takes the time of humans. Rather than replacing humans, RPA provides a way for you to free up their time for more important things.
RPA, currently a $2.5 billion industry, has grown nearly 80 percent during the past two years, says an Everest Group report. It keeps growing because of its many benefits.
What Are the Benefits?
First, RPA software automates rote activity that humans typically do by combining automation, computer vision and machine learning. It does not learn by itself but draws from machine learning and artificial intelligence.
Using it, you can regularly automate tasks like data aggregation and reconciliation, database maintenance, financial report generation, order processing and password resets. Of course, to cover your entire process life cycle, you need multiple bots.
Second, you can utilize RPA to circumvent traditional IT challenges. It lets you automate undertakings that are typically labor-intensive without system changes. The software generally uses a friendly user interface that makes it relatively simple for computer users to create automated tasks.
Third, it provides a highly scalable solution easily adaptable to changing business processes and industry alterations. As a business expands or divides into brands or divisions, the RPA easily adjusts.
Fourth, once programmed and implemented, RPA produces quick benefits. Unlike training personnel, using RPA provides immediate results. As soon as the bot gets programmed, it does everything right from the first time it runs. Case studies show that an error rate of 0 percent is possible. Some automation has reduced manual involvement of humans to five percent while reducing processing time by 80 percent, such as one Europe human resources provider did.
Fifth, its small upfront investment makes RPA accessible to every business. You do not have to own a corporation to use it. Since it works with any operating system, you can integrate it with legacy systems without spending extra money.
Streamline the Workflow With RPA
Choose a high-volume process that your employees must repeat often of a business-rules-driven nature. From closing register reports to credit limit request underwriting, RPA can automate the process and improve productivity. Once the information technology team deploys the bots software, your staff can begin using them.
These robots free humans’ time for other business activities. By streamlining workflow, you enable your employees to spend more time on the important duties of their position rather than the time-consuming ones. The bots instantly create progress reports allowing managers to improve operational processes. Bots do as told, never make mistakes, and do not tire. They work silently and require no breaks. Because they make zero mistakes, they reduce business risk and improve compliance with industry standards and regulations.
Let RPA help you improve your business operations today. Contact Starr & Associates for more information.