What is RPA?

RPA stands for “Robotic Process Automation” and refers to the automation of a computer-centric process using software robots.

RPA aims to free humans of repetitive tasks by replacing them with a virtual workforce and enabling them to focus on judgment calls, handle exceptions and provide oversight. If there are highly manual, repetitive, rule-based, with low exceptions rate and standard electronic readable input, it can be said that it is appropriate to use RPA technology.

BENEFITS:

• Rapid return on investment
• enhanced processes
• eliminate manual repetitive work
• Better customer experience
• Cost reduction
• Scalability and flexibility
• insights and analytics

–> An RPA software robot never sleeps and makes zero mistakes.

In contrast to other, traditional IT solutions, RPA helps organizations to automate at a part of the cost and time that encountered before. Normally, working on the existing system and leveraging it would be difficult and costly to replace. However, with RPA it is easy. RPA is continuous in nature and empowers the existing infrastructure without causing failure. RPA comes with a lot of byproduct of automation like cost efficiency and compliance.

Currently, RPA technologies are divided into three broad categories: probots, knowbots, and chatbots.

• Probots are bots that follow simple, repeatable rules to process data.
• Knowbots are bots that search the internet to gather and store user-specified information.
• Chatbots are virtual agents who can respond to customer queries in real time.

We have talked about a type of technology, its efficiency, and ability. However, it should not be thought that RPA is a part of an IT infrastructure. It just enables a company to implement the technology without changing the existing infra and system quickly and efficiently. A big difference between traditional IT automation and RPA is the ability of RPA to be aware and shape to changing circumstances, exceptions and new situations. RPA can be programmed to catch and interpret the actions of a specific process, then it can manipulate data, trigger responses, set up new actions, and communicate other systems unquestionably.

Applications of RPA

1. Business administration: RPA can be used for foreign exchange payments, automating account openings and closings or general ledger.

2. Healthcare: RPA can be used to keep medical records up to date, automate order entry without human error. Even they are low priority tasks, it can provide added value for responsible people for allowing them to accomplish more throughout the day.

3. Accounting:  RPA can be used for general accounting, operational accounting, transactional reporting and budgeting:

4. Manufacturing: RPA can be used for procurement, automating order processing and payments, monitoring inventory levels and tracking shipments.

5. Human Resources:  RPA can be used for automating HR tasks such as onboarding and offboarding, updating employee information and timesheet submission processes.

Is RPA right for my business?

RPA aims to reach minimal human errors, reduce operational costs, and provide added value. If your business has repetitive, rule-based and time-consuming tasks, you may consider RPA technology.