Why Use Robotic Process Automation For Business Growth
28 Jan. 2020 General
Robotic Process Automation or RPA (not to be confused with Simple Workflow Automation) evolved as a technology in early 2000s and had started to enter mainstream not until recently. Right from its formative years until now, it has reached staggering heights in machine-led automation.
With RPA for business, CIOs can get mundane tasks automated and utilize the human potential of their teams to drive efficiencies for more productive and creative work. This is a big innovative step towards streamlining digital processes and curtailing operational costs.
RPA is built on redundancy, accuracy, and rule-based business processes. Thus, there is less or no room for human error or delays. Read on to learn how RPA catalyzes digital transformation in the fast-paced digital economy and helps businesses transform effectively and remain competitive.
We demonstrate the use cases of how Rishabh Software can help develop bankable RPA solutions towards a transparent and well-defined process that allows enterprise workforces to focus on high-value tasks.
Is RPA Worth The Investment?
This is the pressing question that surrounds many RPA aspirants who want to take RPA onboard. If you look at our projections below inspired by the recent study of Polaris Market Research, it’s evident how promising and progressive growth with RPA would be. We’re looking at a steady growth rate (more than ten times) within ten years. Unbelievable, isn’t it? The answer to the question above is “Yes.”
How We Help Businesses In Digital Transformation Through RPA
Process improvement—or better yet, process excellence— is the core of achieving business outcomes faster and more reliably. It is fortified by smooth, efficient processes, whether manual, automated, or both, to enhance every experience the business delivers.
RPA is undeniably a forerunner of this enterprise ideal. It helps streamline user interactions and adds visibility as a key aspect of your business. Going forward, machine learning capabilities and artificial intelligence will help unleash the next level of automation once they gain the capacity to deploy RPA intelligently.
While RPA is growing in popularity and offers an ocean of opportunities, it has a long way to go in realizing the intelligent enterprise idea and catching up on cognitive computing. But, it’s soon getting to a place where collaborating with Business Intelligence processes is going to take the tech world by storm.
RPA tools can enable robots to capture data, provide desired responses, and also communicate with other digital systems, as and when required. It can manage routine tasks such as – sending emails, digital assistance, extracting & migrating data from different sources, invoicing, and more. But, these are just basic tasks. The advanced capabilities of RPA that will be witnessed in the coming years can be mind-boggling.
An increasing number of growing businesses are in demand of digital workers (bots) to automating business processes like administrative tasks, billing, accounting, compliance check, and many more.
At Rishabh Software, we help organizations accelerate efficiencies by integrating technologies like machine learning and artificial intelligence with RPA to transform the entire business ecosystem. With our end-to-end RPA consulting services, RPA implementation, and automation design, we help inculcate intelligent automation into our client’s technology fabric and help them enhance productivity, reduce operational costs and improve scalability.
How RPA Would Benefit Business Of Any Size
In addition to the above, the other important benefits that fuel the increased adoption of RPA include:
- Improved Control
- Improved Process Speed
- Improved Transaction Volume Throughput
- Better Finance process flexibility to scale
- Better Process Performance Visibility
- Ease of Deployment of customized process solutions
RPA Use Cases
Businesses use RPA as an extension of their digital workforce. It helps them address inefficiencies, reduce errors, and handle multiple laborious manual processes effortlessly. While bots operate incessantly, they offer 24-hour customer engagement across geographies with a prompt and impeccable service experience.
Research indicates that round-the-clock customer service has a positive impact on customer satisfaction and retention that drive enterprises worldwide. Time-critical interactions and timely intervention by your digital workforce can save millions of dollars spent on a course correction, damage control, and process remediation.
For instance, banks can use RPA to automate verification for account opening or mortgage application processing, while transport companies can streamline their supply chain and logistics operations using RPA.
A few other use cases where RPA bots can be valuable for organizations include:
- HR and IT: Staff onboarding, deployment, and off-boarding
- Finance: Payroll, invoice, and sales order processing
- Marketing: Generate mass emails for marketing, sending real-time market/performance updates, and automating CRM operations
- Analytics: Migration of data from various resources, data duplication & extraction, validate data, file updates, formatting, and generating accurate reports
However, organizations must evaluate specific RPA project use-cases that lay focus on revenue-generation initiatives. An RPA strategy without a well-contemplated approach could end up wasting resources and not achieving the desired outcome.
This is where we pitch in our forte in software development to identify, analyze, architect, develop, deploy and support a wide range of RPA solutions. As part of this endeavor, we pick out tedious and time-consuming tasks that are rule-based, high-volume, redundant, and prone to human error and revenue leaks, and work around automating them.
Costing Considerations to Measure Business ROI
The ideal business equation is where fewer expenses mean more savings and better ROI generation. As the application of RPA differs from one process category to the other, there is no straightforward mechanism to maximize ROI from an RPA project.
To address this, we help companies create an effective roadmap to embody the RPA process implementation, support, and validation of ROI metrics.
The five cost considerations for RPA adoption include:
- Price of the selected automation tool or toolset
- IT infrastructure investment
- Cost of process automation development and implementation
- Training cost
- Cost of monitoring and maintenance
Robotic process automation is a next-gen technology solution that disrupts digital transformation through its fast and cost-effective approach. It helps expedite processes, deliver better customer experience, streamline business operations, and drive more productivity into the human workforce. If your enterprise relies on rapid and efficient processes to drive performance and deliver better experiences to end customers, then RPA is for you.
Rishabh Software has the requisite proficiency and a broader portfolio of software and services to formulate the best-fit RPA solution across domains with our agile project management approach that acts as a catalyst to digital organizational transformation.