Robotic Process Automation and Its Benefits

Have you heard ever about Robotic process automation? Well, if no, you are probably missing the chance of winning digital world. Let’s shed some light on RPA (robotic process automation) and its benefits. Here it is –

Robotic process automation is the technology or we can say the form of business process automation technology that is based on metaphorical software robots and allows us to integrate the human interacting actions within digital systems to execute a business process.

RPA is used with artificial intelligence (AI) and machine learning capabilities to make long calculations and queries easier. The technology is used to handle high-volume; repeatable processes such as records & transaction maintenance, calculations and queries that previously required humans to perform. We can call it as software robot which performs the human tasks very well from logging into system to logging out from.

Benefits of Robotic process automation

RPA helps organizations reducing staffing costs and human error.

  • Reduce efforts in the back office
  • Enabling better customer service
  • Implement fast, achieve ROI fast.
  • Ensuring business operations and processes comply with regulations and standards
  • Providing better accuracy
  • Allowing processes to be completed much more rapidly
  • Providing improved efficiency by digitizing and auditing process data
  • Creating cost savings for manual and repetitive tasks
  • Super scalable
  • Enabling employees to be more productive

Also read: Why digital transformation is essential for business growth

What processes are relevant to Robotic process automation?

Here are some top applications or processes where RPA can reach:

  • Customer service: RPA aids organization providing better customer service by automating repeating tasks of contact center such as verifying e-signatures, uploading scanned documents and verifying information for automatic approvals or rejections.
  • Accounting: RPA can help organizations in general accounting, operational accounting, transactional reporting and budgeting.
  • Financial services: RPA can play an important role in financial industry for foreign exchange payments, automating account openings and closings, managing audit requests and processing insurance claims.

Differences between Test Automation and RPA

There are several differences between Test Automation Tool and RPA tool. Here are the key differences between the two –

Parameter Test Automation RPA
Goal Reduce Test execution time through automation Reduce headcount through automation
Task Automate repetitive Test Cases Automate repetitive Business processes
Coding Coding knowledge required to create Test Scripts Wizard-driven, and coding knowledge not required
Tech Approach Supports limited software environment. Example: Selenium can support only web applications. Supports a wide array of software environments
Example Test cases are automated Data entry, forms, loan processing, is automated
Application Test Automation can be run on QA, Production, Performance, UAT environments RPA is usually run only on production environments
Implementation It can automate a product. It can automate a product as well as a service.
Users Limited to technical users. Can be used across the board by all stakeholders.
Role Acts as a virtual assistant. Acts as a virtual workforce.
AI Can execute only what is coded. Many RPA tools come with an AI engine can process information like a human

Source credit: guru99

Best Practices of RPA Implementation

  • One should have full transparency into business process
  • Consider business impact before adopting RPA process
  • Define and focus on the desired ROI
  • Focus on targeting larger groups and automating large, impactful processes
  • Combine attended and unattended RPA
  • Involve IT early and often
  • Don’t forget the impact on people
  • Processes are mature enough for automation,
  • Poor design, change management can wreak havoc
  • Put RPA into your whole development lifecycle
  • Project governance is paramount

Also read: How to hire a dedicated team of developers?

Outcome

There is no magic bullet for implementing RPA, but it requires an intelligent automation ethos that must be part of the long-term journey for enterprises. As it is the case with all technology deployments and security is the main concern. An organizations can get double-digit improvements in productivity, fast business processes and quality from RPA. A software robot will never sleep and make mistakes.

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