In a professional setting with an ever-increasing workload and little to no time to effectively perform all your duties, it is no surprise that we are looking toward automation as the next big thing. But what is RPA? And how does it work? What are its functions apart from taking over daily mundane operations and increasing accuracy? Read this blog further to find out!
Understanding RPA
Robotic Process Automation is a software innovation that helps build, deploy and manage robots that emulate human interaction with digital systems. RPA software can identify and retrieve data, predict common responses, and sort work schedules. They are consistent and help with overall cost reduction for the company by proper utilization of human resources of a company.
Some of the advantages of RPA are:
- Accommodates transformation to the digital world
- Major cost-cutting
- Resilient to workload peaks
- Improved accuracy & compliance
- Enhanced productivity
- Happier employees
Here are a few of the best RPA tools that you can check out:
- Blue Prism
- UiPath
- Automation Anywhere
- Pega
- Keysight’s Eggplant
5 Sectors Using Robotic Process Automation (RPA)
Banking & Finance
RPA is very accurate; hence it is heavily applied in Banking & Finance for customer account management, loan updation and generating reports. The goals of Robotic Process Automation in this sector are-
- Improving Customer Service
- Enabling KYC
- Fraud Recognition
- Automatic Payments
- Credit Card and Mortgage Processing
Manufacturing
Robotic Process Automation in manufacturing has reduced operational costs by 40% in most manufacturing industries, be it assembling products, packaging or even performing a quality check. RPA can be used to automate:
- Bill of Materials (A list that contains raw materials for a particular product)
- Data migration
- Managing inventory
- Generating payables and receivables, etc.
Human Resources
In the HR department, RPA helps automate highly repetitive tasks such as payroll processing, employee onboarding, task assigning and due diligence. Therefore, RPA software is vital for cost-cutting and is an effective time saver in all industries.
Healthcare Industries
With a growing number of patients requiring intensive care, hospitals are looking for ways to reduce costs and invest their workforce in performing core responsibilities rather than spend their energy doing mundane tasks such as data entry or inventory. This helps the doctors, nurses and staff tend to patients more freely, provide accurate diagnoses and effectively treat them.
Telecommunication
The key factors RPA looks to improve in the Telecom industry are speed, cost reduction & technology. Here are a few Robotic Process Automation examples applied in telecommunications:
- Enhances scalability & productivity
- Boosts first call resolution (FCR) rates
- Increased ROI
Apart from the use cases mentioned above, RPA has found applications in retail, property management and insurance firms. Do you think automation will be a game-changer in the near future? Write to us with your thoughts!
Frequently Asked Questions
1) Is it true that RPA will not work in creative industries?
Ans) The creative thinking ability of humans is so immense that it cannot be replicated by RPA bots yet. Creativity, human interaction and problem-solving are something RPA cannot automate and require external developer support, at least at the moment.
2) Which process would benefit from the use of robotic process automation RPA?
Ans) RPA improves the efficiency of the following processes:
- Vendor, Customer and Employee Onboarding & Maintenance
- Payroll processing
- Competitive pricing and monitoring
- Customer due diligence
- Shipment scheduling and tracking
3) Which among these is An RPA tool; Ui Path or Blue Prism?
Ans) UiPath provides front-office and back-office robots and has proved to be more accurate than Blue Prism. Blue Prism is available for web, desktop, and Citrix automation.
