Robotic Process Automation Is Everywhere, Here’s Exactly What It Is
Robotic Process Automation (RPA) is essentially employing software to handle and execute repetitive business tasks.
New technology seems to be taking over the world right now with software like digital assistants and facial recognition. There is one type of business software that seems to be everywhere called Robotic Process Automation (RPA). RPA can basically be found in any system dealing with repetitive tasks.
The RPA uses software robots to automate repetitive tasks. These robots can be programmed to do things such as fill out forms, extract data, and perform calculations. Needless to say, this kind of technology can help out businesses significantly.
The company, UiPath, helped pioneer and distribute RPA into the business market. BusinessWire describes it as new intelligent automation technology created to address changing market pressures, which in today’s economy is extremely helpful.
Robotic Process Automation can perform tasks faster and more accurately than humans. This can lead to increased efficiency with fewer errors. Therefore, using RPA to automate tasks can help businesses reduce labor costs and have employees focus on higher-value work.
RPA robots can be easily scaled up or down depending on your business’ needs. They can be programmed to handle changes in demand, such as seasonal fluctuations. This allows businesses to increase capacity without adding headcount or costs.
According to a report by Deloitte, some companies that use RPA aim as high as 50 percent for capacities. Meaning their use of a digital workforce could exceed their human workforce in terms of delivery capacity. This has huge potential for businesses that use or are planning to use RPA.
So what type of businesses use Robotic Process Automation technology? UiPath claims that “any high-volume, business-rules-driven, repeatable process” is a prospect for RPA. In fact, it’s used in a variety of industries, some of which you might not even realize!
RPA is being used to automate financial reporting, accounts payable, and receivable, among others. The Royal Bank of Scotland has used RPA to automate its mortgage application process, as well as its accounting tasks. This slashed the time it takes for them to complete some processes from weeks to days.
One simple RPA you might unknowingly encounter are automated call center options. The process can easily queue up callers during periods of high volumes and get them to their desired department after pressing a number on the prompt. This frees up employees to help you with what you’re calling about.
There are so many more examples of Robotic Process Automation across industries. Next time you visit the doctor’s office, RPA might be used to automate patient data entry, insurance verification, or schedule appointments. It can also reduce the time required to process job applications by scanning your résumé.
RPA can improve employee satisfaction by allowing them to focus on more meaningful work. For example, it can automate tasks like data entry. Allowing employees to focus on tasks that require creativity, critical thinking, and problem-solving skills.
Mark Meuldijk, A partner at KPMG, asserts that this can improve job satisfaction. Increased employee satisfaction incentives job retention. So if your business is having trouble retaining employees, this can potentially curb turnover.
Overall, Robotic Process Automation can help businesses streamline operations, improve efficiency, and reduce costs. This can also improve employee satisfaction and the quality of their work. RPA has the potential to transform the way businesses operate and will undoubtedly increase in popularity as more and more businesses embrace its skill.
