As the chain of development grows around AI, we keep desiring for newer possibilities. And, one such innovation which has led companies to better their business workflow is Robotic process automation (RPA). Abbreviated as RPA, this technology focuses on enhancing the business processes by filling the gaps in automation. So, what does RPA mean? And, what are the benefits of using this process? Plus, how can you make the best use of this innovation?
Definitely a lot of questions must be battling in your head. And, it is obvious to feel dazzled and shocked at the same time. However, the good news is that businesses can now focus on essential tasks rather than killing time on repetitive jobs. But this is not it. There is a lot more you can uncover with RPA. So, let us find out what’s in for businesses and how can companies increase their productivity depending on Robotic Process Automation.
What Exactly is Robotic Process Automation (RPA)?
RPA is the utilization of special computer applications and programs, coined as software bots for automating the standard and repetitive processes within a company’s operation. For instance, customer chat support is one of the easiest examples to understand what this means. Think of a person sitting in front of the computer and answering your queries. Handling more than three to four such requests for a single person may be a challenge. But not for software bots.
And, this does not mean the replacement of human efforts completely. Neither it is a replacement of what human beings can do. On the contrary, it just helps fit in for the standard tasks. Take the same example as above of the chatbot and imagine your company sells a product. If there is a query regarding the specification of the product, the chatbot would be able to fill in. However, any unique query related to the unusual problem with the product may need human interaction.
Hence, we cannot imply that the RPA would completely take over the human efforts. However, it is just a way to simplify things at work. Using chatbots, companies can minimize their response time, reducing the average wait time for users. Likewise, there are many other applications of RPA.
In simple words, RPA can be your virtual assistant at work. It would ensure that tedious tasks do not bother your employees. And, your employees can concentrate on meaningful and engaging work that generates income. You can use RPA for performing copying and pasting of data, for filling standard forms, accessing of emails and attachments, etc.
Benefits of RPA
As per a report on RPA, the market revenue pertaining to Robotic process automation was 0.8 billion US dollars in 2017. And, it is expected to surge to 10.4 billion US dollars by 2023. Even from 2017 to 2020, there has been immense growth in the market size of RPA.
Hence, there must be something great for businesses that the market size of RPA ceases to plummet. So, let’s find out the same.
User-Friendly and Easy to Configure
The best part is that the software bots aren’t difficult to configure at all. You do not need to write codes. The tool offers a drag and drops feature that any non-technical staff could use and build a software bot. It also has the process recorder feature that lets you record your own steps and automate it through the RPA.
Follows Regulations and Standards
Bots are very obedient. They would do as configured to perform. They are designed to follow instructions. Moreover, the offer audit trail history. For reviewing the processes, you can also play past actions. That is why software bots are reliable and can meet the needs of the strictest standards as well.
RPA Along with Cognitive Technologies
To further make the RPA stronger, companies can inject Robotic process automation with cognitive technologies. For instance, speech recognition, ML, and many more. This would assist in automating the difficult and complex processes within an organization as well.
Increase in Productivity
As mentioned below, companies can complete repetitive tasks at a faster rate than ever. And, this is not achievable with manual interaction.
Dos and Don’ts with Rapid Process Automation
It is crucial to understand the ways you can utilize RPA for a positive output. Otherwise, you may end up wrecking your established business for a toss.
Keep Expectations Clear
RPA, although started influencing businesses a few years back, still in its development phase. This means that you may not know what exactly you can do with it. Hence, you may easily be taken for a ride by implementation consultants. Do not let others mislead you with wrong expectations. Keep your eyes open and find out what’s it could really go for you.
Design the Operating Model Before Implementation
Many times, the implementation fails and we often blame the technology at hand. However, this isn’t the case. Mostly the problem occurs when companies fail to establish a streamlined communication channel between different bots. Hence, you must design the operational model and dependency of inputs from one another bots for successful automation through RPA.
Changes Must be Made Timely
Bots follow your instructions and guidelines based on the standards of your company. If you make any changes to those compliances, you must update your software bots accordingly. Or else, you can face major consequences.
There have been such mistakes in the past and companies paid the price. For instance, a Genpact employee made changes to the password policy of the company. However, there were no changes made to the bots related to the updated policy. What’s next? The company lost crucial data.
So, it is important to monitor and look for loopholes that could bring your RPA system down.
Never let excitement and emotions bog down the benefits of new innovations. You must take out time to research and understand the different aspects of technology and proceed accordingly. The same theory goes for Robotic process automation as well. If you ensure to abide by the rule, your business certainly would be gaining a lot from RPA.