Robotic Process Automation for Enterprises
Robotic Process Automation or RPA automation allows one to configure a robot or a computer software to integrate human behavior while interacting with digital systems. As the name suggests, there are specific tools for RPA that help in the automation of business processes.
RPA robots utilize the user interface to capture data and operate applications just like humans. This involves interpreting, triggering responses, and communicating with other systems in order to perform on a large variety of repetitive tasks on daily basis.
The plus point is that an enterprise automation tool such as RPA robot never sleeps. It is accurate and is an affordable enterprise solution.
How is RPA different from other enterprise automation tools?
RPA is affordable and allows organizations to automate in half the time in comparison to traditional automation software. Also, RPA automation is non-intrusive in nature and leverages the existing infrastructure without having to disrupt the underlying systems. RPA is cost-efficient along with other measurable benefits:
- Minimal upfront investment
- Fast benefit realization
- No disruption to underlying systems
- Highly scalable: Agile
How does the Robotic Process Automation function?
RPA robots are capable of performing many basic and repetitive tasks on their own without human intervention. For instance, they log into applications, copy and paste data, move files and folders, extract structured and semi-structured data from documents, fill in forms, scrape browsers, and much more.
How RPA has helped businesses increase ROI
How to identify the business processes that need automation?
The rule is simple, any high-volume, repeatable business-rules-driven process qualifies for automation. We have shared some real-time business use cases in which RPA has helped business to increase ROI and utilize their workforce better.
1. Increased efficiency by automating HR process for an MNC
At the head office of a big MNC, the turnover of sick leaves processing was as high as 3000 sick leave applications per month. On an average, 3 minutes per application were required to process by the HR executive.
This called for the deployment of a virtual workforce or bot assistant to automate the whole task and increase the ROI. Within 1 month, the MNC implemented an RPA solution at the head office and achieved 90% process automation.
The error rate now is zero percent, manual efforts were reduced to only 8% and the processing time was reduced by 85%. As a result, the MNC achieved their targeted ROI in 6 months.
2. Automated customer reports for retail stores
A hardware store chain was using the conventional store closing reports as closing information for each of its outlet across hundreds of stores.
The store’s employees were using a manual process to prepare these reports which were too cumbersome. The store automated the whole process by using RPA tools so that employees can focus on more customer-centric activities.
The RPA robots now generate closing reports, validate, and consolidate the required information for all closing reports of customers.
3. Eliminated redundancy in loan process at banks
A microfinance company was facing challenges with processing bulky loan applications. Previously, the credit managers were gathering required information manually from internal sources like office policy and credit guidelines and external sources like due diligence, customer’s online/offline presence, and Google news.
With over 1,00,000 potential borrowers to provide for, the company automated the whole loan application processing system with RPA.
As a result, they saved 2,500 hours of human work every month. This time can now be utilized to directly interact with customers and solve their queries up front.
What are the benefits of RPA?
Robotic Process automation has transformed the business world as we knew it. Many industry leaders are already reaping the benefits of this technology and are trying to integrate it in all their flourishing ventures.
Robotic Process Automation delivers a competitive edge to your business along with direct profitability. It improves accuracy across the organization and brings time and cost efficiency. The most favorable point is RPA allows superior scalability and flexibility within the enterprise and the responses can be tailored according to specific needs.
RPA robots are very easy to train and can be integrated seamlessly into your existing system. As they are highly scalable, you can multiply them and deploy them instantly as per your requirement.
Additionally, RPA robots report constantly on their progress so you can keep track and make predictions or improve your business strategies.
Following are additional benefits that are offered by RPA:
1. Improved accuracy
Robotic Process Automation software robots can be programmed easily and are made to follow rules. They are error-free and function tirelessly. Also, RPA robots are consistent and compliant.
Once the instructions are fed properly, RPA robots execute them reliably and thus, reduce the risk of errors. All the operations done by RPA are monitored. You can have instant reports for any given time period to check the compliance of RPA.
3. Cost Savvy
Up to 80% of the processing costs can be reduced with RPA within 12 months. Most enterprises that have deployed RPA are already having a positive return on investment.
RPA can perform a massive amount of operations simultaneously on desktop and cloud environment across the business units and geographies. The scalability offered by RPA is the most favorable feature as additional robots can be deployed quickly with minimal costs based on seasonality and work flux.
5. Increased productivity and speed
The most pressing benefits of RPA are to enhance productivity and to reduce processing time. RPA is a bliss for employees as it eliminates non-value-add activities and relieves them from rising work pressure.
The results of deploying RPA solutions have helped organizations to expand their businesses within a short span of time.
How GoodWorkLabs can help with Enterprise RPA solutions
Enterprise Robotic Process Automation has transformed the digital world completely. The future has started to unveil its wonders upon us with fascinating and convenient tools such as RPA.
RPA is providing affordable, easy to program and deploy, and end-to-end business process automation solution.
With our expert team of robotics and data analysts, GoodWorkLabs can help you build a custom enterprise RPA solution that will help you scale with ease, automate manual processes, remove redundancy and errors, and create a workforce that is more customer-focused.
If you are a startup or an MNC looking for automation tools to scale your business, then leave us quick message with your requirements. Our team will get in touch with you shortly.