Ways RPA Can Benefit & Boost Your Business

By: Oshi Bohra, Manager Marketing, Cignex

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RPA can prove to be a powerful tool for your company growth if implemented in the correct manner. RPA is capable of handling rule based and repetitive tasks without human intervention. This allows employees to focus their time on important tasks and improve customer experience. RPA provides your company with the opportunity to flourish. CIGNEX has compiled a list of ways RPA can benefit your company.

Employee Satisfaction

RPA performs repetitive and mundane tasks allowing employees some HAPPY HOURS. The saved hours allow employees to use their expertise and abilities to perform meaningful tasks. When employees feel challenged they perform better.  When employees perform meaningful duties they are appreciated and make them a valuable asset to the company. Employees use their intellectual and creative thinking to deliver innovative prepositions which can benefit your organization.

RPA for Optimize Resource use

RPA takes over the mundane tasks and automates the repetitive tasks. When humans perform repetitive tasks there is a chance of getting caught up, feeling bored and committing silly mistakes. RPA implementation ensures these tasks are completed on time avoiding any errors. This also allows the optimal use of resources for an organization. Employees perform tasks that are more worthy and produce quality work.

Improved Analytics & Insights

One of the main advantages of implementing RPA is collection of improved data which helps in decision making and enhancing customer experience. An organisation can gain insights about business processes using RPA and validate data. Robots can collect data in places where humans may be unable to allow for a broader range of data collection and processing. This leads to more in-depth insights while also lowering the danger of data leaks, outdated data collection and inaccurate analysis.

Reduced Cost with RPA

RPA can help to significantly cut down cost by taking over repetitive and mundane tasks. Bots can perform the tasks quickly compared to a human and does help in bringing down the overall operational costs and increasing efficiency using few resources. This allows employees to perform jobs that require human attention and skills.

Security

Since bots are designed to perform rule based tasks this gives more advantage of implementing RPA in business that is enhanced security. To improve the enterprise data security RPA can be implemented with a variety of applications. These integrations will ensure that a bot does not alter or make modifications to the client’s app. Because business operations leverage and inherit the already existing security architecture with permission concepts in place this solution decreases the cybersecurity risks.

Communication

RPA implementation takes the burden of automating the manually creating documents and can automate the work of document creation, updating and making changes without any human intervention with the help of triggers and procedures. Robotic Process Automation (RPA) can help to ensure that business procedures and activities are completed in a timely manner.

Improved Automated Response & Triggers

Every RPA system on average has scheduling capabilities; it can help employees with fully automated and semi-automatic scheduling. The first scenario triggers when a specific event occurs which is usually a human activity such as a click.

The trigger for unattended automation does not have to be a human activity but can be anything like an email or a document. Businesses can use triggers and responses to identify particular aspects of their operations that can be fully or partially automated.

Industry Applications of RPA

RPA has seen tremendous growth in recent years. Sectors such as healthcare telecommunications retail banking and financial services have shown positive effects of RPA implementation.

Below are the some of the common repetitive rule based processes RPA can automate in the various sectors – 

Healthcare

  • Data migration and processing
  • Doctor Report
  • Medical bills
  • Insurance data
  • Insurance claim
  • Claim status and eligibility automation
  • Patient record

BFSI Sector

  • Form filling
  • Loan claims
  • KYC
  • Report automation
  • Credit card process
  • Fraud detection
  • Account closure process
  • Customer service
  • Account processing
  • Collection

Retail

  • Store planning
  • Inventory management
  • Product categorization
  • Logistics and supply chain management
  • Business and sales insights
  • New product launch
  • Customer support
  • Analysis of consumer buying pattern
  • Automated customer loyalty programs
  • Reporting

Manufacturing

  • Automate Administrative Tasks
  • Inventory Management
  • Invoice Processing
  • Customer Support
  • Service Desk
  • IT Operations
  • Risk Management

Telecommunications

  • Competitor price tracking
  • Responding to partner queries
  • Manual sales order processing 
  • Report preparation and dissemination
  • Backing up information
  • Resolving customer queries

Final Thoughts
Before going on a quest to implement RPA into your business processes, determine which operations can be automated to provide you with the most benefits, and discuss with the suitable RPA partner to determine the impact of RPA on people, procedures, and policies.

Look for departments and functions that could benefit from automation. When it comes to RPA, you should think about human resources, finance and accounting, sales, and supply chain management.