Written by Kajal Makhija
May 27, 2021 ·
3 min read
Image Credits: pexels
A side effect of living in the digital age is the growing number of automation applications. We have seen a wide array of adopters, including industry heavyweights such as Deutsche Bank, Ernst & Young, and Walmart. Substituting physical staff for robotic process automation can prove extremely useful and lucrative if implemented correctly.
In order to make the best decisions possible, looking for skilled help such as RPA service providers would be in any organization’s best interest. RPA applications span from large-scale corporations to even the smallest of startups across any business industry. The possibilities are truly endless.
Projected to reach a valuation of USD $2.9 billion (flowit) by the end of this year, the RPA industry has become an integral part of a growing number of organizations. Common applications include;
Automation helps customer care systems segregate queries and categorize them based on department or severity amidst other groupings. This moves the customer to the right department or staff member for a resolution.
Additionally, smaller, rule-based systems can be implemented for lower-level resolutions and assistance.
Processing invoices is normally a large-scale repetitive process. Conducting the same manually leaves room for delayed service and incorrect payments. Implementing a system of timely payments can foster better relationships with vendors and suppliers. Invoice processing also requires data consolidation from various sources and formats.
Introducing an RPA system into the mix allows businesses to process invoices as soon as they are received. Even if the invoices are physically submitted, OCR is available to automate the process. RPA is able to automate the inputting process and reconcile errors should it detect any. The end result; an automated end-to-end process that moves from receipt to payment.
Keeping information consistent across all systems within the business can be tedious. Sales representatives need to be clear and concise with the information being entered into CRM and/or ERP systems. Financial analysts replicate this data for use in other modules. The duplication is bound to cause errors which in turn affects the rate of productivity.
RPA offers a simpler solution to this concern. By introducing end-to-end automation of sales activities, the database is maintained automatically without duplicate data and improved customer and employee experience. With menial tasks no longer a concern, employees can look forward to completing activities that require their time and expertise to generate more business.
The repetitive task of payroll processing by the HR department requires large-scale data entry. As a result, a single inaccuracy could cost the organization heavily and upset employees. Introducing an RPA system helps keep information consistent even when shared across multiple platforms.
Additionally, payroll systems can be automated for paycheck creation, benefits administration, and reimbursement systems. The automation helps avoid inaccuracies and delays for a seamless end-to-end process.
Business purchase materials for production or service provision in bulk. To make the best decision possible, companies research online for the most competitive rates. The researching process itself can be time-consuming and not as comprehensive when conducted manually.
A growing number of organizations have introduced RPA systems as a solution to quick and comprehensive price differentiation. Additionally, further segregation through product attribute comparison and quality ensures businesses are buying the best products in the market.
One of the many benefits introducing RPA offers to an organization is large-scale data management. This means organizing and segregating customer information has never been simpler. The RPA system in place categorizes based on the organization’s requirements.
This allows customer care and sales executives to access the information as needed. Without manually entering the same information, there is no concern around the accuracy of the same. RPAs offer a significantly low margin of error, allowing labor-intensive jobs to happen a lot faster. RPA adoption can reduce the need for manual performance of repetitive tasks by 80% (Automationedge).
Businesses also generate large amounts of information around their employees. HR uses this information to offer reimbursements, refreshers for training, allocation of task levels, payments, and other similar tasks. For the HR department to manually scan through this information can be tedious.
RPA systems offer a strong alternative to this system. Day-to-Day tasks can be conducted by the system with the HR personnel focusing on conducting human activities such as improving morale, productivity, and work culture.
All businesses have a refund process that requires checking boxes against required circumstances for a return. This process can be done quickly and easily with the introduction of an RPA system.
Customers are limited to voicing their actual concerns without additional information that can be distracting for an employee. RPA systems handle the matter seamlessly with improved effectiveness and refund issuance without delays. Additionally, overall customer experience quality is improved.
Scouring through resumé on resumé is not only time-consuming but important pieces of information can be missed or mixed up with another applicant. RPA systems offer considerable assistance with this process. The system is not only able to source resumes from different platforms but is able to sift through undesirable applicants and piece together only the best options.
RPA systems significantly reduce the stress placed on recruiters and allows them to look through pertinent resumes with enhanced care. Roughly 90-95% (AutomationEdge) of vital aspects around the recruitment process can be taken over by the RPA system.
The applications for robotic process automation are limited in terms of creativity. The bots offer programming capabilities that allow simple and large-scale activities to be performed with minimal (if any) human intervention. The key to introducing RPA successfully into an organization lies with the initial installation process. If companies are able to dedicate the required resources and introduce an in-house professional to maintain the same, RPA systems can be modified based on need.
For businesses looking to introduce internal efficiency and effectiveness, especially at a time of pandemic and social distancing, an RPA system would be an ideal option.
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