Thursday 20 February 2020
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Improving your Business Functions with Robotic Process Automation

Improving your Business Functions with Robotic Process Automation

Everyone thinks that Robotic Processes and Artificial intelligence are something from the future, although we all know that robotic technology have been successfully used in manufacturing for many years, building our automobiles.  But, the question is can robotic process technologies be used in other industries?

Deployment of robotic process automation industry wide

Robotic process automation (RPA), and it has been around for decades.  The technology has emerged recently as a significant trend among many industries. RPA is even more prevalent now due to more affordable robotic systems. According to industry experts, robotic systems used to be very expensive and could only be used in high-value products to recover the costs of their use. More reasons to move forward with Robotic processes is a simple fact that there is an increasing lack of low-cost human labor.

RPA is the method of employing robotic systems to “perform tasks repeatedly and usually [at] high speed, without human intervention.” This technology can take over high-volume, repeatable and often tedious tasks that were previously performed by humans. People are then freed up to do higher-value work which require empathy and a human touch.

Many industries require customized products to suit their needs, this is also true with RPA. With advances in robotic systems, cameras, laser systems and AI driving down costs across business ecosystem, businesses can produce many types of items, but at low quantities. Deploying such intelligent robotic systems are easier and less costly now than in the recent past.

Creating a capable virtual workforce with your software apps

Besides hardware, RPA can be applied to software as well. Companies can create a virtual workforce that is rules-based with heuristic algorithms. Human resources and administrative processes can be made smoother and more efficient as a result.

The financial industry is not the only industry that can learn from the robotic process automation. Banks have been using the robotic process automation to automate anything from data entry, report generation, and credit card processing to fraud detection and audit support, due to this integration, they have increased efficiencies and reduced costs. Deutsche Bank is using RPA to remove manual processes from the back and middle office processes.  They are focused on using this technology to increase efficiencies, and remove the need for tedious tasks performed by people.

And in the insurance industry, which typically requires a lot of paperwork, RPA can assist in auto enrollment, product administration, and policy document data transfers.

While RPA automates manual tasks, humans are more adapt in roles that require emotion and empathy; healthcare and medicine come to mind and may not be the industry to take advantage of RPA.   There will always be industries which will benefit from robotic process automation.

Like other forms of automation, RPA can augment existing workforces, and essentially allow them to do more with less. RPA will not replace humans, but will help reduce errors and operate for longer periods of time. This increase in productivity won’t likely be realized without the integration of RPA.  This increased productivity and lower costs will have a positive effect throughout the business process.

As technologies like RPA advance, it seems the robot uprising will probably be more behind-the-scenes than anyone expects.   RPA gives a competitive edge, unlocking higher business quality, productivity, and agility.

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