Thinking about introducing RPA (Robotic Process Automation) in your business? This specialized form of business process automation uses AI to automate designated business processes – and dramatically enhance efficiency and streamline your business. Wondering what kind of benefits you can get from an RPA strategy?
RPA is not a cure-all for all industries. RPA, aka “bots,” are very good at handling highly manual and repetitive rules-based processes, but it is not the right answer for all activities. Implementing RPA technology is not a substitute for a core platform modernization project although it often can make the process of bridging legacy systems more efficient prior to a modernization project. As a rule, not every process or task a good automation candidate, but let’s explore the best areas that benefit from adding RPA.
1. Better Business Results
First and foremost, RPA helps you enable better business results. Your employees can focus on more important value-added activities – such as sales, marketing and software development – rather than manual data entry. This helps your company become more competitive, and drives better business results.
2. Lower Wage Costs
You will need to hire fewer employees to manually enter data and create business processes, as the bulk of this work will be done by your RPA systems. This results in lower wage costs, and higher profitability.
3. Low Project Risk
RPA projects are low-risk and can quickly be completed without disrupting existing systems, and they tend to stay under budget. This means RPA is a great way to optimize your business, even if you’re risk-averse when it comes to IT and technology. RPA reduces the rate of errors thereby lowering the level of operational risk.
4. Fewer Data Entry Errors
RPA ensures that there are fewer data entry errors, as employees do not have to copy, paste and move data from different systems and databases. This results in higher-quality data, and fewer mistakes.
5. Faster Service
Using an RPA system, you can streamline a huge number of your business processes, resulting in faster service for customers, because you no longer have to rely on employees for these tasks.
6. Reduced IT Workload
Your IT employees will no longer have to work on small automation projects, as the majority of these tasks will already be completed with an RPA system. This lets them focus on other, more important projects and tasks. RPA technology can help you leverage existing systems, and frees up the workforce of an organization from the high-volume mundane administrative work. This allows your team to focus on driving innovation in key performance areas such as product development and customer service with the ultimate benefit of a positive outcome to the bottom-line.
7. Enhanced Employee Satisfaction & Improved Customer Satisfaction
Employees don’t enjoy manual data entry or outdated business processes, so eliminating these processes by using RPA and automation is a great way to enhance employee satisfaction. Customers will benefit from less manual errors. The back-office will also speed up and be more efficient with having to do less manual repetitive tasks.
8. Improved Data Collection Scope
Using RPA, you can easily extract data from legacy systems and other databases, from which data may have previously been difficult to get. This allows you to expand the reach of your data collection efforts, and gain more insights about your company’s performance.
9. Better Data Quality
Fewer errors in data entry mean that the data you do collect is higher in quality and can be used with Business Intelligence (BI) tools to gather insights about your company’s productivity and performance. Time and time again it has been said analytics is reliant upon good data.
10. Simpler Compliance
RPA minimizes human contact with sensitive data, and maintains an audit trail, allowing for detailed audits and minimal liability due to human error. This makes it ideal for high-security applications – such as medical data protected by HIPAA.
Move to An RPA Strategy – Enjoy These Benefits (And So Much More)
Today’s modern AI and technology has made it easier than ever to move to an RPA strategy – and doing so can result in a number of great benefits. Get started today, and see how you can boost your business with Robotic Process Automation.