Imagine coming to a bank and asking for a loan. How much time does it take the representative to enter your information into the system, make requests, tick off different points, etc.? Or maybe you remember coming to the doctor’s office and waiting for a while for your information to be entered and processed?
Doesn’t it seem annoying and frustrating to wait for simple tasks to be done? Meanwhile, all of such data entering is accompanied by human error, which leads to more and more waste of time.
Thankfully, the future is here.
In fact, it has been here for about seven years. The solution to the above problems is Robotic Process Automation (RPA).
The appearance of AI helped automate numerous processes, including manual actions done by office workers all over the world.
what is What is Robotic Process Automation RPA?
Modern RPA systems can fully or partially automate the work, which people usually do by hand. For example, in any given large bank, employees spend more than half of their time typing bank details into different programs, printing out bills, sending informational emails, and much more.
All of the above routine tasks can be automated. According to Grand View Research, by 2025, the global RPA market size is expected to reach $3.97 billion.
What Can an RPA Program Do?
All of the above sounds nice. But what can this robot do? You may be surprised at how many boring and time-consuming tasks it could deal with.
- Open and close apps as well as online programs, such as email.
- Move around inside apps (ERP, CRM, etc.)
- Create and move files and folders
- Click links
- Automatically move between apps
- Fill out and copy forms
- Download data from outside sources to the database
- Compare and check data
- Make calculations
- Recognize text (PDF, DOC, XLS)
- Check data entered by humans
- Act as a chatbot
- Provide analytics
- Arranger robotics testing
- And much more
What are the Key Benefits and Advantages of RPA
Let’s learn the key advantages of Robotic Process Automation.
1. No Changes to the System
Since the robot uses the existing interface of a program, the RPA doesn’t require the user to change the system or learn how to work with a new interface. The RPA framework stretches over the existing IT systems.
For many companies, which don’t want to spend money on changing legacy programs, RPA is an excellent automation solution. With it, you don’t need to make changes to the existing program, procedures or controls. Meanwhile, Robotic Process Automation tutorials are easy to grasp.
2. Quick Implementation
Since RPA doesn’t change the interface or structure of your existing programs, the implementation can happen rather fast. You could start reaping the benefits of the automation in less than two weeks.
According to experts at Kansas City software development company, Tricension, if for some reason you are unhappy with the RPA services, you can turn the robot off in seconds and delegate the tasks back to the human employee.
3. Low Risk
Since RPA implementation is not a system upgrade, it comes with lower risks for the budget. RPA is a non-invasive project, which is completed quickly without changing the existing systems.
Besides the low risk, RPA software comes with a low learning curve. It’s easy to learn robotic process automation functions since essentially, it’s an assistant rather than a service program. Even though you would still need to go over RPA tutorials, overall, these programs are easy to work with.
4. No Human Error
Simple data entry errors could lead to unfortunate consequences and big holes in the budget. Machines don’t make errors since they don’t get distracted.
Once RPA is implemented, all manual errors are eliminated together with the extra costs and clients’ unhappiness.
It’s worth noting, however, that implementing RPA doesn’t ensure error-free operation. Bots may malfunction as well. So they require regular checkups.
5. Faster Service
Another key benefit of RPA is the faster service offered to the clients. People don’t have to wait in frustrating lines or deal with the slow response time. The elimination of manual input and calculations leads to a much faster service, thus boosting the company’s profits.
Which Industries Can RPA Be Used In?
RPA can be an irreplaceable assistant for numerous industries such as:
Gas, electricity, and water providers can benefit from RPA because they have to deal with numerous transactions on a regular basis. So RPA for accounting and billing could help make the right calculations, avoid lengthy manual work, and reduce human error to a minimum.
RPA could also handle customer service and debt recovery while collecting information from meters. Failed meter readings are a big problem for the utilities industry. They lead to billing mistakes and problems with clients. RPA can help avoid these problems.
As we explained earlier, the banking industry could benefit from RPA the most. The overwhelming number of account documents, deposits, withdrawals, personal data files, and much more have to be processed by any single bank on an hourly basis.
RPA can reduce processing times tremendously while eliminating human error and providing easy access to data.
These programs could improve the transparency of banking transactions and boost customer loyalty and satisfaction.
RPA is also a great tool for streamlining compliance. Banks often face compliance changes due to the ever-changing international laws and regulations. The program can check if the data complies with the current regulations rather than delegating this process to a human being.
Just like banks, insurance companies have to deal with a huge number of back-office processes. They process numerous claims on a regular basis while providing quotes to potential customers. All of the above requires repetitive work, which can easily be handled by RPA.
Since insurance companies face fierce competition, any delay in processing could turn clients away. That’s where RPA comes in and reduces the time on handling documents tremendously.
RPA can automate entire workflows and streamline numerous operational activities, including data input, legacy apps, and regulation compliance.
The healthcare industry deals with huge amounts of personal data and can benefit from RPA the most. Appointment scheduling, claims processing, and billing are among a few tasks which can be delegated to robots.
Meanwhile, RPA can help patients get faster and better care without frustration and wasted time. Waiting for an appointment could take much less time when the patient’s information is processed by a robot.
With schedule automation and the reminder system, the number of last-minute cancellations and no-shows is kept to a minimum.
5. Human Resource
RPA can be an irreplaceable assistant for numerous processes in HR departments. The robots can deal with missing information in different HR-related forms. They can analyze applications and sort them by different parameters.
The robot can point a human’s attention to problems with applications, missing information, wrong format and much more. All of the above could shorten the time spent on managing documents substantially.
What are the Most Efficient RPA Automation Tools?
Let’s look at some of the best-rated Robotic Processing Automation tools in 2019.
These are the popular RPA (Robotics Process Automation) Tools Reviewed In 2019
1. Automation Anywhere
Automation Anywhere is an RPA tool that in addition to standard RPA elements deal with such intellectual components as understand a language or deciphering unstructured data. It uses SMART automation technology and distributes tasks to multiple computers.
Automai helps streamline business processes, reduce time spent on manual input, and eliminates human error. This all-encompassing program combines automated robot testing, robotic monitoring, and virtual workforce. The program works with all types of business environments.
UiPath takes an extensive RPA approach to automating desktop and web apps. It can be hosted in virtual terminals or on cloud environments. The program supports a formidable range of apps. UiPath is suitable for businesses of all sizes regardless of the quantity of manual work.
Today, Robotic Process Automation has become an integral part of the way many companies work. Entrepreneurs in different industries take advantage of RPA to improve customer service, reduce the chances of human error, speed up the work process, and much more.
The benefits of RPA are obvious so is the ROI of such software. Consider RPA for your business today. You may be surprised at how many positive changes it brings.