Empower Your Business with Robotic Process Automation (RPA)

Post-pandemic businesses are aggressively looking for emerging solutions to reach greater business process automation (BPA) and offload manual drudgery. Robotic Process Automation is one such emerging technology that helps businesses delegate laborious, time-intensive, and repetitive tasks performed by humans to digital workers (intelligent bots). 

With RPA development and implementation, you can automate several business processes that require intense manual labor such as claims processing, invoice processing, manual data entry, inventory management, payroll, customer service, employee onboarding, and to name a few. Simply put, Robotic Process Automation is playing a fundamental role in a slew of operations and is taking over the business world. This may be the reason why businesses from Startups and ISVs to SMEs and large enterprises including HP, Intel, PwC, Siemens, Adobe, IBM, KPMG, AT&T, Xerox, Dell, Linkedin, etc. are opting for RPA Solutions. 

Over the past few years, RPA has been achieving phenomenal growth and attracting large investments. If reports were to be believed, the market size of Robotic Process Automation will go from 1.23 billion USD in 2020 to $5.7 billion by 2024 and 13 billion U.S. dollars by 2030. Furthermore, the 2020 global survey report of Deloitte indicates that 53% of respondents have already given a kick-start to their RPA journey and by 2022 this figure is predicted to increase by nearly 20%. If you are also planning to embrace RPA in your business, it’s wise to know the key benefits offered by this emerging technology before you opt for RPA Development Services. Let’s dive deep into it. 

1) Increase Productivity

RPA bots are designed to let humans perform the tasks wherein they naturally excel at whilst delegating mundane and routine tasks to bots. When employees invest their productive time on mind-numbing tasks such as data extraction, manual data entry, copying and pasting information, etc. they get easily bored and end up becoming inefficient. The reason behind this is manual and repetitive tasks require a large amount of time and energy. However, configuring the RPA–powered bots with your workflow can increase your team's potential for completing work by 35% to 50%. In fact, 27% of managers have admitted that improved productivity/performance is one of the key benefits of RPA implementation. Simply put, RPA bots will make your employees more productive instead of replacing them. 

2) Reduce Costs

Robotic Process Automation (RPA) requires significant upfront costs such as intelligent bots development, implementation, and maintenance. Further, upgrading an RPA system can incur additional costs. However, once the implementation is done, the reduced costs resulting from RPA systems are significantly higher than a human staffer. Since RPA bots can operate round-the-clock and perform any chore without taking any leave, unlike humans who work from 9 to 5 and have pre-fixed annual leaves. In fact, many businesses have reported great improvements in ROI after RPA implementation. According to a report published by McKinsey, automating manual and repetitive tasks through Robotic Process Automation can offer a potential ROI of 30–200% in the first year itself. Furthermore, various reports have estimated that implementing RPA bots can help businesses reduce operating expenses (OpEx) by as much as 25-50%. 

3) Enhance Customer Satisfaction

Today, many companies struggle to meet the ever-changing customer demands. On top of that, one small mistake is enough to lose your customers to your competitors. Fortunately, you can overcome this challenge with Robotic Process Automation. By implementing RPA in your business, you can delegate repetitive, routine, and mundane tasks to the bots and free your employees to solve problems that require critical thinking and can’t be automated. Having more time on hand enables your workforce to address the customer needs in a better way and builds a positive relationship with them. Furthermore, with the help of RPA, you can generate automated reports that will provide you with detailed insights about your customers and their needs. 

4) Boost Scalability Opportunities

When a business starts growing, it demands quick scaling of resources and this is where RPA plays a fundamental role. Robotic Process Automation allows businesses to scale up the bots (digital workers) to meet the desired objectives. In other words, scaling up the RPA bots in a business is much easier than onboarding and training employees to accommodate the growing demands. 

When it comes to scalability, humans are not even close to the digital workers (intelligent bots). This may be one of the reasons why businesses both large and small alike rely on the RPA system to manage unpredictable market demands. 

5) Improve Data Quality

Humans are likely to make mistakes but what if you want to eliminate the common processing errors from the mission-critical workflows? Well, you should consider Robotic Process Automation services. With RPA implementation in your business, you can cut down on human errors since RPA bots religiously follow all rules to the dot and achieve 100% accuracy. In other words, automating laborious and repetitive tasks through RPA can reduce the cases of re-works, which in turn, improves data quality. Not to mention, RPA-driven bots can work tirelessly with the same consistency and performance without complaining or asking for incentives. 

6) Hassle-Free Implementation

The implementation of Robotic Process Automation in any business operation is easier than you think. When you hire certified professionals, they will implement RPA without disrupting the established workflows. In fact, you can integrate RPA with your legacy systems and infuse a new life to your traditional IT assets. 

Summing Up

Robotic Process Automation has become the most coveted emerging solution that every business wants to embrace. The reason being is that it offers a host of business benefits and has use cases across industry verticals from Banking and Finance to Manufacturing, Retail, Accounting, HR, Insurance, Healthcare, Telecommunications, and more. You can also unlock the potential of RPA in your business by partnering with an RPA development company. Having seasoned professionals by your side helps you make the most of Robotic Process Automation. Begin your search for RPA experts from B2B review and rating sites and consider the one that resembles close to your requirements.