Robotic Process Automation tools help in automating many of the manual, repetitive, time consuming tasks which otherwise employees have to do, making them spend less or no time on innovative, value added activities.
The software robots can be trained and configured to mimic the user actions of clicks, copy-paste and other data entry tasks.
Focused measurement of the process metrics like time taken to complete the process, customer wait time, etc.
will play a crucial role in identifying the business value that needs to be enhanced as a result of automation.
Detailed surveys from employees will help identify their pain points and tasks which they observe to be consuming most of their time.
Finance and Operations related processes have huge business value to reap.
With the spike in the capabilities of RPA, robotic process automation companies are now offering to automate business processes in better manner and for more versatiles use cases in multiple industries like IT, banking & insurance, finance, and even healthcare and retail.
Workflow automation, which rose to popularity in the 1990s is certainly the forerunner of RPA in the sense that it was highly adopted by industrial setups to capture and translate certain fields like invoices, sales, emails, etc, to add to their databases and notifying the concerned departments/resources for further action.
Deloitte suggests that RPA is an amalgam of automation and AI: “Robotic Process Automation (RPA), a synonym to AI, is the application of technology allowing employees in a company to configure computer software or a ‘robot’ to reason, collect and extract knowledge, recognize patterns, learn and adapt to new situations or environments.”
The present wave of RPA solutions reflects a mature phase on both, the technology side, as well as in the business process aspect.
The market is on an rapid advance causing massive cost reduction, improved accuracy and efficiency, more regulated compliance, and ease of management.
In fact, the business process outsourcing sector is becoming highly dependent on RPA tools, so much so that customers would not have it otherwise.
