Robotic Process Automation (RPA) is the primary driver of digital transformation for many organizations. But where should they start? Is there any specific process that they should begin automating? To be honest, there are hundreds.
The 2020-2021 pandemic era lays heavy emphasis on Robotic Process Automation services. A prime example is automated clinical testing for a variable vaccine. These tests require many repetitive steps and documents processing, which is an easy task for an RPA bot.
Businesses achieve greater efficiency, accuracy, and productivity from Robotic Process Automation. What types of companies and to what extent?
The above data shows that the BFSI sector is the biggest benefactor of RPA services. And for good reason - the massive amount of paperwork in the industry needs automation. The plethora of processes like invoicing, client onboarding, etc., could really use RPA.
But it doesn’t matter which processes the companies start with - they should start. In fact, 98% of business leaders say that RPA is important to drive business growth. They did not mention any specific process. The focus is on enterprise-wide adoption.
This article will highlight the top use cases of RPA in various industries. These are common processes that waste a lot of employee time - and our focus is to understand how RPA helps eliminate that.
Read more : 11 RPA Use Cases in Different Industries you Ought to Know
7 processes that can be automated using RPA
Whether it’s the accounting department or HR, RPA solutions have applications everywhere. Of course, the specific implementation depends on the systems laid out in each department. We will be looking at the common processes that can be automated using RPA.
- Invoice Processing
Whether it’s a regional bank or an MNC, every organization deals with tons of invoices. The primary challenge is the invoicing format provided by each vendor. These include mails, pdfs, word doc, paper copies, online invoices, and more. The finance team has to manually transfer the data into the system.
RPA bots can extract information from the invoices and feed them to the CRM or ERP system. They can automate data input, error reconciliation, and even make a few data-based decisions. The entire process from receipt to payment will take only minutes as compared to hours taken by the team.
Click here to see how RPA automates invoice processing using UiPath.
- Payroll Processing
Another time-consuming task is payroll processing. The HR department takes a lot of time to accumulate all the data for calculating the data. It includes validating timesheets, deductions, leave balance, attendance, and more.
RPA enables companies to automate the task and save a lot of time. The bots can crawl across multiple systems for collating data. It can also automate paycheck creation, reimbursements, and compensations.
The entire Robotic Process Automation implementation will minimize inaccuracies and eliminate any delays in making payments of salaries. A software development company can build payroll automation solutions that eliminate redundancies in this HR process.
- Order entry
Sales representatives are often stuck in entering order data in the CRM system. Then the accounts team enters the data for transactions. It often leads to duplication of data and hinders the seamless flow of the system.
One of the biggest advantages of RPA bots is order and data entry. The solution can trigger the bot when there is a new lead in the system. It can then connect all the functional systems and feed the customer data in the respective fields.
RPA services take away the mundane activities from the sales team and let them focus on the main tasks - generating leads and increasing conversions.
Check out : Pros and Cons of RPA Technology for Digital Enterprises
- Onboarding & maintenance
Vendor and customer onboarding & maintenance are especially time-consuming. There’s a lot of paperwork involved. Whether it’s creating a new vendor or customer or modifying the details of an existing one, the entire process takes hours.
Robotic Process Automation services simplify the onboarding and maintenance process. RPA bots trigger events that remind of tasks like contract due, change of address or name forms, confirmation messages to vendors, and more.
Robotic Process Automation (RPA) connects customers and vendors in a much better way to the company by sending automatic communications about various services.
- ERP automation
Companies use ERP like Salesforce, Oracle, and others to manage their daily operations. ERP systems are integral to keep the organization connected. But the huge pile of data entry that occurs eats up endless hours of the day.
ERP automation is one of the most emerging fields of RPA. Bots can automate data collection, entry, update, processing, and validating. Analysts can focus on important tasks rather than entering mundane data.
Note that ERP automation can be used for all departments - HR, Accounting, Finance, Operations, Marketing, Sales, and more. RPA bots can deliver better compliance by following the standard rule of operations in the ERP.
- Report generation
The much-dreaded task of report generation is time-consuming and boring. Whether it’s weekly or half-yearly reports, data inconsistencies are bound to occur. And if the reports are repetitive, employee productivity goes down, along with the quality of the reports.
Robotic Process Automation services are heavily used for report generation. Bots can collect data from respective systems and feed that data into the reporting format. All the data can be easily transferred to the required reports.
RPA can create reports in predefined formats as well - pdf, excel, doc, and more. By accessing web interfaces and the internal system, the bots can crawl through valuable data points for the report.
- Data extraction
Data is often spread out through different formats and sometimes even handwritten notes. Extracting data and centralizing it to make sense requires more than normal human effort. It is mentally exhausting and time-consuming.
RPA, combined with optical character recognition technology, easily identifies information from different report formats and enters it into the system. There are little to no errors in the accuracy of the data extracted.
Employees can spend their time on productive activities rather than gathering data from different sources and files. Extraction becomes easier, which can then lead to quick, data-backed decision-making. When combined with Artificial Intelligence solutions and algorithms, RPA bots can also analyze and deliver insights from the extracted data.
Read more : 7 Step Guide of RPA implementation for Enterprise Digital Transformation
RPA, Machine Learning Services, and Cloud Computing are the future of digital transformation for companies. RPA more so because it is a one-time investment that will provide ROI for years. Bots don’t get tired and perform tasks with accuracy - leaving more time for human personnel to focus on value-adding activities.
But such solutions require an RPA consultant who can guide you through the process of implementing RPA bots in different processes. RPA increases accuracy by 50% to 90% and efficiency by 75% to 95%, enabling companies to leverage the creative talents of employees in other important tasks.