Top 5 Benefits of RPA for your Industry
Powerful and innovative technologies are emerging in this competitive world and Robotic Process Automation is one of the inevitable results of this technology enhancement. RPA has the power to transform the way businesses are operating now. The main goal of the RPA process is to communicate with the customers and internal business system in the same way that an employee does, to free up the time of human resources and use it for complex tasks. Based on the type of business, RPA vendors implement a robot applying your business logic, that can mimic human actions during communication with digital systems.
RPA Companies can easily configure automation robots to avoid repetitive and routine tasks that enhance business processes. These bots can perform any task with high accuracy like logging in and out of an application, mimic activities that a human would do, interact with customers with utmost accuracy, data copying, and pasting, filling different forms, opening email and attachments included in the email etc.
The main benefits of RPA to industries are:
Non invasive technology:
The way RPA is built, it can easily adapt to any kind of BPM suite. It does not require complex integration, no need to change the underlying infrastructure in the companies. RPA does not require any technical skills a nontechnical staff can easily implement bot in their process. It can easily integrate into the central systems without any expensive infrastructure changes or enhancement.
Accuracy, consistency and high productivity:
These bots are highly accurate and very consistent. These bots are very less prone to make typos or mistakes that can easily be made by humans. Once the setup of RPA is complete, the elimination of manual errors is almost done. Companies may not receive any complaints from customers regarding data errors. Bots can easily process advanced analytics and combine different data sources, which is the most crucial feature of RPA.
Bots will work with tremendous speed in tasks like filling forms, copying data from one system to other systems, where employees can take more time to perform. This increases the process cycle time in the tasks.
Bots do not require any help from the other employees or guidance in performing tasks or any other technical skills. These can transfer complex processes from humans to machines with less time. Employees can invest their time in other strategic work.
Bots follow regulative compliance practices and provide audit trail records. Whatever the instructions that are configured in the bots, they follow the same and also they could playback the past actions if required. They can work 24/7 without any guidance. Robots can perform multiple tasks in just a few seconds with high accuracy and reduces the cycle time also.
High ROI and cost savings:
One of the major advantages of RPA is a reduction in implementation costs. Unlike other automation technologies, RPA does not require any high-level resources to integrate. RPA service providers can complete the automation with the present systems in the companies. Once it is successful, the tasks will be completed in less time with greater outputs, which results in high ROI.
As per McKinsey, it is clear that the Implementation of ROI helps companies in gaining nearly 30% to 200% ROI in their first year. There would be around $5-$7 trillion cost savings in the businesses. As RPA provides high efficiency and productivity, the RPA market is growing rapidly and this would reach 2.9 billion by 2021, as per Forrester estimation.