This post is a quick overview of an Abto Software’s blog article.
Robotic process automation (RPA) has become increasingly popular in the corporate world these days.
In situations where implementation and integration of so-called business process management systems appears unnecessary, such solutions are becoming transitional bridges between traditional manual processes and large-scale automation initiatives.
Robotic process automation explained
By utilizing sophisticated algorithms to simulate human activity, robotic process automation applications improve energy-consuming manual processes, for example data management (collection, processing), employee onboarding, work scheduling, inventory management, accounting and sales management, and more. Deploying scripts, which emulate rule-based and repeated routines, robotic process automation systems independently perform back-office processes, enhancing performance across departments.
RPA software can handle daily activities, increasing efficiency, reducing load, and driving business revenue, which enables mature organizations to prioritize business operations, which require human intervention. What’s more, RPA solutions might facilitate digital transformation in the healthcare industry, retail, finance, education, government, and other large sectors.
Talking capabilities, RPA software is classified in the following way:
- Data-related functions a. Functions executing data transfer (data caching, data encryption, file uploading) b. Functions changing file formats (file conversion, file encryption/encoding) c. Functions enabling data analysis (speech-to-text processing, text digitization)
- Integration-related functions a. Functions operating other applications (value changing in spreadsheets, credential management)
- Process-related functions a. Functions operating cloud services (social media posting management) b. Functions imitating human use of different input devices (click, drag, expand, close) c. Functions initiating further activities (image appearance triggering, hot key triggering)
The typical RPA lifecycle is composed of the following stages:
- Discovery phase – the identification the evaluation of processes best suitable for automation
- Design stage – the crafting of a robust solution that aligns with unique business requirements
- Development stage – the creation of a reliable solution in a controlled environment
- Deployment stage – the deployment of the RPA product to the production environment
- Operation stage – operation, maintenance, and optimization of the RPA product
Business application
Healthcare industry
In the healthcare segment, medical professionals struggle with often energy-intense administrative operations. By implementing advanced technology – RPA modules, smart chatbots, and other innovative applications – mature organizations might minimize manual routines and shift their focus on more important operations.
RPA software might accelerate:
- Patient registration and onboarding
- Appointment management and reminders
- Insurance verification
- Claim processing
- Inventory management
- Billing management
Retail industry
In the retail segment, distribution workers waste hours daily doing inventory and replenishment management. By integrating digital technology, strategic companies might optimize order processing and other daily activities that impact customer experience.
RPA solutions might enhance:
- Inventory and replenishment management
- Order processing
- Price and sales monitoring
- Return and refund processing
Finance & banking sector
Financial organizations are often the target of cyberattacks (embezzlement, bribery, and other typical threats). To resolve these challenges, a company must allocate significant resources, which typically appears inefficient.
Robotic automation can facilitate:
- Account opening and closing
- Loan processing and underwriting
- Account reconciliation
- Statement generation
- Fraud detection and prevention
- Compliance monitoring and reporting
Construction industry
Construction organizations are dealing with projects that involve many stakeholders, which isn’t always easy. To handle potential burdens – resource limitations, changing requirements, unexpected delays and disruptions – a company must make great efforts.
Robotic automation might simplify:
- Bid and contract management
- Vendor management
- Project tracking and reporting
- Budget tracking and forecasting
- Order processing
- Invoice reconciliation
The key business benefits of adopting RPA solutions
Less coding
Robotic process automation software typically provides drag-and-drop functionality for more convenient use, which means those don’t require engineers to be properly configured.
Sensible savings
Robotic process automation solutions might enable overwhelmed employees to prioritize critical processes, which require human input, which ensures time and cost savings.
Customer satisfaction
RPA robots work 24/7 without breaks, which means they increase overall productivity and reduce waiting time.
Employee satisfaction
RPA bots can handle high-volume load, which means they minimize manual effort, significantly facilitating employee morale and loyalty.
Preservation of existing systems
Robotic process automation systems can be seamlessly integrated with already implemented applications – advanced solutions are working on the presentation layer of the existing applications.
Better accuracy and compliance
Robotic process automation systems ensure accuracy and compliance with acknowledged regulatory standards by eliminating human error, which eliminates reputational and financial damage.
The main implementation challenges when adopting RPA systems
Identifying the right processes
The first project stage is to correctly identify inefficient processes, which might bring additional business value if automated.
Integrating with existing systems
The next project stage is to smoothly integrate built modules with already utilized applications (ERP, CRM), which requires domain-specific expertise.
Change management
Change management means training your employees and maintaining clear communication with stakeholders to avoid potential misunderstanding.
Data security and compliance
Access controls, data encryption, and user activity monitoring are all crucial factors which affect your future business performance.
Summing up
Robotic process automation adoption benefits leaders across industries handling repeated manual routines. Approached correctly, digital transformation might benefit healthcare professionals, retail, banking & finance, and other large domains.
Robotic process automation implementation considerably transforms business operation and performance. The outcomes are measurable right away – increased efficiency, reduced expenses, and more – and continue bringing value being adopted across other repeated processes.
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