Despite the successful implementation of many processes wherein companies have identified and improved KPIs and navigated through the volatile and ever-changing business landscape, certain areas still require improvements. Processes like invoice processing, ERP data entry, payrolls, and other high-volume, rule-based, and repetitive tasks are still susceptible to time and cost consumption as well as errors. Therefore, the initiation and adoption of innovative solutions have become more important to gain an edge over the competition. Automation is the new key strategy.
When we first hear the word automation, many of us imagine a place where humans are replaced by machines, robots, and expert systems which require little to no interventions. While some of it may be true, what automation technology does not do is replace humans. Instead, it simplifies tasks and allows humans to focus their energy on high-value jobs.
Among the different automation technologies, robotic process automation (RPA) has emerged as a game changer in revolutionising the way many businesses operate. It is a software technology governed by structured inputs (RPA scripts), making use of software bots that serve as a virtual workforce. These bots can easily learn from and mimic humans and interact with digital systems to finish tasks with precision.
The Application of RPA
RPA has gained a lot of popularity in the last couple of years owing to its incomparable benefits. Mentioned below are some of the most common applications of RPA observed across several industries: –
For Data Management
Since the beginning of their operations, businesses require data for decision-making, strategy formulation, and performance evaluation. However, data entry is often subjected to manual processes, excessive time consumption, and errors. With the rise of artificial intelligence (AI), RPA, and automation providers like UiPath, companies can now automate several tasks. This includes data entry, data extraction from media sources, and scanned documents or collation from various sources into single formats. RPA can seamlessly blend into various data-related tasks and accelerate data processing with accuracy and minimal errors, allowing companies to allocate resources to complete more strategic tasks.
For Supply Chain Management
Supply chain management is crucial for manufacturing companies to stay competitive. From order processing to procurement processes, inventory management, logistics, and transportation, supply chain processes are wide-reaching. However, the supply chain is not devoid of challenges. Traditional supply chain operations relied heavily on manual processes, data silos, and inefficiencies, which lead to the futile use of time, costs, and labour. RPA bots have emerged as a valuable tool that can automate manual tasks, streamline workflows, eliminate bottlenecks, and be integrated to enable efficient supply chain management.
In Customer Support
For any business, its customers are paramount. Thus, improving interactions and providing service and satisfaction to customers is just as crucial as any other business activity. However, customer service teams are often assailed by alleviating workload, handling customer requests and providing solutions. This process is not only repetitive but time-consuming as well. RPA, when offloaded efficiently, can improve and speed up tasks such as handling service requests, and updating customer records, allowing the team to focus on improving company-customer interactions. Another way RPA can improve custom service processes is through chatbots and virtual assistants to automate replies.
For Finance & Accounting
Financial processes are crucial and have no place for error. However, mistakes are bound to happen and companies as well as employees may have to deal with the repercussions. Due to its rule-based nature, RPA stands as a liberator in automating processes. Software bots are programmed with predefined rules and workflows, allowing them to execute tasks with high accuracy. Unlike human workers, who may be prone to fatigue or oversights, RPA bots can perform repetitive tasks such as invoice processing, account reconciliation, financial reporting, compliance and auditing with unmatched accuracy and efficiency. Therefore, RPA helps companies build a more robust and error-resistant financial ecosystem.
In Human Resources
Human resources are bogged down by repetitive tasks, paperwork, and manual processes that consume valuable time and resources. RPA carries huge potential to automate several tasks such as consolidating or reviewing datasets, resume screening, compliance monitoring, interview scheduling, on-boarding new employees, payroll processing, and tracking and evaluating employee performance. When implemented efficiently, RPA has the potential to make HR processes more productive, allowing professionals to focus on building relationships with employees and improving company processes.
Here are several reasons companies can implement RPA:
- Productivity Improvement
- Improved Efficiency
- Simplify and minimize repetitive tasks
- Reduce human error
- Improve productivity in our data work
- Free up human resources
The purpose of automation technology is to make processes and tasks more efficient and smoother, allowing humans to work at ease. Transforming workflows with the help of RPA solutions such as UiPath robots that have superior scalability and flexibility opens doors to operational efficiencies.