Bots are software apps specifically designed to perform repetitive tasks that would take much longer for humans to do. The bots interact with other network structures and services. It’s the basis of automation. The evolution of bots from their simple beginnings to today’s Siri and Alexa is nothing short of astounding.
Now the business world is being asked to embrace Robotic Process Automation or RPA. What is it? What are its capabilities, and how does it help grow business worldwide?
What is Robotic Process Automation?
A computer or virtual computer sets up parameters in which bots complete repetitive tasks. Error-free, time-consuming tasks are performed while human personnel handle emotional or mental tasks.
It’s not as fun or interactive as R2D2, but it takes the dull, everyday routine out of the hands of employees who have other things to do. Think filling in forms or cut and paste tasks. For a business to use this software, it must fulfill a few points, such as:
- The operations must be rule-based with clear parameters
- The operations must be timed at defined intervals
- The operations must have definite input and output
- The operations must have quite some volume
To put it in more understandable terms, think of legal, medical, or insurance information in enough volume for a company to outsource the work. Another good example is a company whose customers return an item. The bots would take the item out of inventory, return it to inventory, and then process the refund.
Capabilities of RPA
One of the significant things that slow down a company is staying in compliance. The insurance and medical fields especially hire people just to keep up with changing compliance guidelines. When compliance is automated, personnel can work on other things.
A significant benefit of using this automation is that it takes the pressure off of the IT department. Processes formerly taking months to implement and then dealing with years of backlog are now done by bots taking minutes to complete the tasks. IT can then work in other areas requiring their expertise.
Return on investment in one year has been shown to be between 30 and 300 percent. Quality of work and consistency is increased.
How RPA is Growing Businesses Around the World
As businesses bring their legacy systems into today’s digital landscape, they’re finding that integrating Robotic Process Automation accelerates its transformation. The United States is a big user of this automation, with Western Europe following, and Japan right behind. Leading industries adopting the automation include banking and financial services, insurance, telecom and media, as well as healthcare.
How is it growing businesses? Automation capabilities with Robotica Process Automation give businesses a strong competitive market status with higher revenues, better speed, better quality, more productive employees, higher employee satisfaction, decreases costs, excellent ROI, better customer satisfaction, and fewer if any errors across sales and marketing, HR, payroll, procurement, contact centers, and more. The list goes on.
Smarter tech is the name of the game. AI and this Robotic Process Automation are horses of a different color. However, many industries are using both as a method of exploring cognitive automation and scaling businesses.
To Boldly Go Where No Tech Has Gone Before
Fans used to watch the original Star Trek and wish they, too, had a voice-activated computer. That technology wasn’t too far away. Then it was talking cars, direct energy weapons (lasers), and now Alexa has us talking to our houses. Technology has come a very long way, with each new introduction being a thing of wonder.
So now businesses can basically have a considerable portion of their business done for them when they incorporate automation capabilities with RPA. Not only that, it’s done quickly, effectively, and error-free. It boosts productivity, profits, and customer service. Okay, might seem expensive at first glance, but it pays for itself almost immediately. Is it really going to hurt when profits begin to soar due to this automation?
Current robotics are not quite Star Trek level, but they are a manifestation of what the 21st century is about. Streamlined, focused, effective, fast, and error-free. Humans now have the time to work with other humans while the computer takes care of all the boring stuff. Beam us up, Scotty!