Robotic process automation (RPA) has emerged to be the brown bread of the industry. Across various industries there are hundreds and thousands of technological innovations experienced every year. Of those only a few actually stand-out to be worth the time and hype they get. If we browse through the last 5-10 years of history of innovations, we can see that there are several technologies and systems of business solutions like cloud computing, big data, data analytics, content management solution, responsive technology for visuals, and IP Telephony.
Why only these and a few such solutions are still relevant, while rest hundreds of other solutions faded away from market? It is because these solutions provide tangible results.
Regardless of the nature of your business, you as an entrepreneur are always ready for risky ventures, provided you see a possible and tangible outcome of it. RPA is a robotic process automation system that has proven to have tangible and lasting results.
Let’s discuss the various advantages and excellent business benefits of RPA:
Easy implementation: Robotic process automation software systems are easy to install and implement. It may include hi-tech hardware installations or complex mechanism but doesn’t change the basic architecture of the company. It has simple UI and can be installed in any advanced workstation or such mainframes with the help of RPA technicians and domain experts.
Higher accuracy & efficiency: Robotic process automation uses human work-system and replicates it endlessly by changing the input value without changing the system to make the process quick, smooth, reliable and 100% accurate.
Easy workflow management: Once installed, the system needs negligible supervision. So, there is no need to implement the employee hierarchy and occupy multiple resources and skills for a particular task or project. Its system cooling time is very less with minimal frequency. Robotic process automation systems are designed such that they are self-service systems and need no further coding post installation.
Detailed reporting: RPA is capable of implementing advanced analytics and creating detailed report of the system it works on. The reports are automatically sent to the master system to which the existing RPA is connected. Automation systems are designed to access, record and provide audit logs; verify and authenticate documents; and convert data into tangible intelligence.
Lower cost: Automated process increases the efficiency and capabilities of a system to about 2-5 times in comparison to the same volume of work delivered by a full time employee. As RPA is implemented the TAT for doing a particular task/project decreases to half or even less. This is due to the elimination of manual intervention.
When we look at these points and map the cost of implementation, RPA holds the upper hand as it helps reduce the skill and resource cost by at-least 25-40% (as per IRPA - Institute For Robotic Process Automation).
It can also be regulated from remote areas, and can be transferred from one workstation to another or from one structure to another. It is also important to remember that one needs technical and subject matter experts to install and implement the system, and also help the employees learn its various features and utilities.
Many business process managers and strategists are still uncertain about the role and future of RPA. For them robotic process automation still has many areas to explore and expertise. So that it can be a technological system capable of sustaining the repercussions of time and make robotic process automation as the leading business process management system of future.
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