Robotic Process Automation
Robotic Process Automation is the technology that allows anyone today to configure computer software, or a “robot” to emulate and integrate the actions of a human interacting within digital systems to execute a business process.
Overview
In an increasingly technology-friendly business environment, Robotic Process Automation (RPA) is the future. A digital workforce of software robots that enables you to emulate and integrate the actions of human behavior within digital systems by developing your own software bots to conduct a business process.
RPA bots have the same set of digital skills as humans and can interact with any system or application in the same way you do. There is no need to change the underlying business applications or systems. RPA bots can learn. They are also cloneable. It’s code-free, non-disruptive, non-invasive, easy and software robots never sleep and make zero mistakes.
Why RPA or benefits of RPA?
- RPA bots are scalable and they integrate across domains and platforms.
- They reduce human errors, are compliant and consistent.
- RPA can reduce operational costs by automating repetitive high-volume tasks.
- RPA bots operate with consistent speed and improve productivity at regular intervals of time.
- Only teach your bots how to do and what to do and they will work for you 24/7 without a break .
- It improves customer experience (NPS) by providing prompt and accurate resolution (it follows rules).
- Optimize labor costs, increase capacity.
- Increase speed, accuracy (100%), and availability (24 hours x 365 days).
- Improve compliance, controls, and audit-ability.
- Deliver business intelligence.
- Enable digital transformation.
- Enhance employee morale.
Where is RPA used?
Mortgage
Loan Processing, Underwriting
Finance
Fraud Claims, Cards activation
Telecom
Order management, Reporting
BPO
Invoice Processing & Customer experience
Insurance
Claims processing, Compensation
Healthcare
Reports, Reconciliation, Bills processing
Public Sector
Metro, New application process
Shipping
Order processing, Invoice processing
Getting started with RPA
Choosing the right digital workforce is the first step towards success, so you need to be extra precautions and select the best one that meets your organizational goals.
Some of the key factors to be included in the criteria:
- Rapid Deployment & Methodology
- Intelligent & Extensible
- Secure & Scalable
- Compliance & Robust
- Performance & Powerful
How to get started with RPA?
RPA is a journey not just a project. Good preparation is always key to a successful journey.
RPA Journey requires a great Business & IT collaboration, must be in sync with the organization’s Strategic Positioning, must have a joint plan of action to win cultural acceptance.
Implementing RPA technology requires an enterprise basis commitment.
Further reading – Get detailed understanding on How to get started with RPA?
Summary
- Robotic Process Automation allows organizations to automate tasks just like a human was doing them across applications & systems.
- The main goal of the RPA process is to replace repetitive and mundane tasks performed by humans, with a virtual workforce.
- The average productivity of humans is 60% with few errors as compared to Robot’s productivity which is 100% without any errors.
- One should consider the business impact before opting for the RPA process.
- There are multiple overlaps between a Test Automation Tool and an RPA tool although they are different.
- RPA implementation has four phases: Requirement, Development, Testing, and Deployment.
- RPA is used in a wide range of industries like Healthcare, Insurance, BPO, Telecom, etc.
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