...

Why Businesses Should Use Robotic Process Automation For Better Efficiency & ROI

March 26, 2023

Businesses are constantly looking for ways to save both time and money, and the best way is by utilizing Robotic Process Automation. RPA is an emerging technology that has already revolutionized processes in the fields of insurance, banking, human resources, healthcare, IT, and other industries. As you know, RPA is a type of software that replaces human labour in both repetitive tasks and decision-making processes. It is the most effective way to automate business processes and boost productivity and profitability.

The advantages of automated RPA are shorter project timelines, cost efficiency, and less downtime. IT departments will also be able to make use of RPA with less oversight and fewer IT staff. Furthermore, robotic process automation execution reduces the need for skilled labour because it can be done by non-technical workers as well. Let’s first take a look at the benefits of using RPA. 

Benefits of Robotic Process Automation (RPA)

  1. Process Standardisation: Robotic process automation execution is set to completely overhaul how businesses operate. It will revolutionise most industries by streamlining and simplifying processes that are often time-consuming and tedious for both employees and customers alike. RPA will basically automate all repetitive tasks, allowing human resources to focus on more important business-related tasks instead of getting bogged down in the details. The process allows workers to spend less time on routine operations and more time with clients, improving the quality of customer service offered.
  2. Increased Agility: RPA is a flexible solution designed to automate business operations and processes. It can be customised to each individual business’ needs and is not hindered by third party company restrictions. It can ease the tasks and processes which may be lengthy and tedious.  The workers can make quick adjustments within the software with an increased bandwidth, without having to be dependent on the manual process
  3. Increased Efficiency & Accuracy : RPA is expected to give companies a competitive edge by increasing their efficiency and accuracy. It has the potential to completely transform how businesses operate. RPA has already proven itself to be more efficient and accurate than traditional software programs and human resources when it comes to completing certain tasks. In fact, a recent report by Forrester Research revealed that RPA is 110% more efficient and 300% more accurate than humans in performing tasks.
  4. Reduced Risk: RPA is designed for high security purposes and has been verified for compliance with various regulatory requirements. A bot can collect real time data that can also help to give prompt and accurate responses to customers. The right information to the right sources can decrease the risk of data breaching.  
  5. Support for Business Continuity: RPA will play a major role in supporting business continuity through ensuring smooth and uninterrupted business operations. This is just one of the many factors that make RPA an attractive solution to businesses. Robotic automation (RPA) has recently become a hot topic in the software industry because of its potential to dramatically change businesses as we know it. 

Serverless RPA robots

In essence, serverless RPA robots are software bots created to take the place of humans in monotonous tasks that don’t even need human attention. They are used to manage a variety of mundane and repetitive tasks in businesses that have grown more time-consuming due to increased work loads. 

Core Functionalities of RPA

RPA is also used to perform tasks that would have been extremely difficult to execute by humans without the need for robot intervention. 

Workforce automation: The Robotics, Automation, and Vision (RAV) group at IBM has defined three core capabilities of RPA, each of which can be used as the basis for multiple applications.

Workflow automation: Automation of manual procedures like data cleansing and QA testing is referred to as “workflow” functionality. In other words, it involves automating operations that involve human interaction with the environment. It is a technique for having robots carry out tasks that aren’t necessarily difficult but still call for the use of logic. 

Seamless Integration: The ability to seamlessly integrate RPA with the existing enterprise applications is a major factor of its success. It’s based on a simple idea that if the robot is expected to perform like a human, it must also be able to act like one. A robot should also be able to interact with humans as needed and respond accordingly. 

Scripting: Advances in RPA software have made it possible to automate tasks that were previously considered impossible for robots. Robots need to be able to follow a set of programmed rules, or “scripts.” These scripts are developed by programmers and customized according to the task at hand.

Access Control: When humans are involved with the execution of a task, they get to decide on what levels of access to grant. Robots need to be allowed access only to the necessary files and systems. This involves being able to record and store data on the Robot’s actions. It is required to track progress and also provide a point of reference if anything goes wrong. 

Data Security: Security is an important factor for any development. When it comes to the data that is being handled by a robot, there are certain guidelines that must be followed. Robots can’t enter unauthorized areas. For instance, if the robot is expected to take a screenshot of a page displayed on the web browser, it must be done from outside of that page’s content area.

How will RPA contribute to a higher ROI?

Robotic Process Automation is the most effective way to automate repetitive tasks and improve the efficiency of a business. There is a great amount of savings that can be had if serverless RPA is used by an organisation. More often than not, RPA will mean that workers are freed up to focus on more important tasks and can be put in more engaging work environments. This means that organizations will have greater access to higher levels of productivity and greater profitability without having to pay high wages for employees.

The importance of producing a higher ROI is why businesses are always on the lookout for better, more efficient ways to run their processes. Robotic Process Automation will change the way companies do business, as it has the potential to revolutionise most industries. It’s only a matter of time until Robotic Automation (RPA) will become an integral part of all businesses looking to optimise their operations and reduce costs.

Overall, companies that use RPA can expect a 3x return on their investments. Additional benefits can include reduced costs, a quicker time to value, business continuity, and workflow automation.

Share

More Resources

SplashBI offers ready-made reports and dashboards tailored to key business areas, enabling users to make informed and decisive business choices. The comprehensive SplashBI framework comprises several specialised components, including SplashEBS (for Oracle EBS reporting), Spla