Robotic Process Automation (RPA) is becoming the next big thing! Here’s why.

Jan 19, 2022 |
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Let’s put it simply. RPA is a form of automating business processes with the help of software ‘bots’. It is an up-and-coming technology that’s being adopted worldwide by businesses to automate their processes with hopes of taking the mundane out of the work-life, of taking the robot out of the human!

Sounds fascinating? It is. RPA can make the dream of day-to-day work lives feel exciting and fresh every day by removing the need to go through the same processes over and over again for your company’s human resources. Thus freeing up valuable time that can be spent on more meaningful tasks. Tasks that need human skills, that can not be automated.

Everybody wants to make their business run more efficiently and get a higher return on investment accordingly. That is why a growing number of companies worldwide are implementing RPA systems. And it has become the fastest-growing enterprise software in the world!

  • RPA is effectively useable in many different industries in ways that can solve their very specific problems.
  • RPA is expensive. But it provides such efficiency that the Return on Investment is rapid and significant. Enterprises can gain profit from implementing RPA within just months.
  • Robotic Process Automation can be integrated into an existing system without making any changes to the underlying system meaning no disruptions to your ongoing processes.
  • RPA makes it really easy to incorporate robotic assistants into workdays for any employee. Its low-code approach lets users build their own simple automation.
  • It is highly scalable to match the growing needs of an enterprise. As the business grows, so does its automation requirements and so can their RPA software.
These are some of the reasons that are making RPA grow rapidly across industries. And it has started penetrating the market in Bangladesh. But can it be used in your business? My general guess is yes. But let’s discuss some of the ways various industries are using it on a global scale. So you can get some ideas on whether and how to use RPA in your business in the most effective way.

Advanced Customer Experience in Banking Industry

The banking industry is one of the largest ones in terms of RPA usability. Because banking employees are usually required to carry out large amounts of manual tasks that are tedious and mundane. Reading documentations, validating loan applications and many more tasks like this are not only inefficient uses of an employee’s time but also are prone to human error.

Especially in banking, human error can be critical. Even the smallest error can result in consequences like regulatory fines. Using RPA can quickly reduce such human errors and complete said repetitive tasks much faster.

For example, verifying a credit card application the traditional way usually takes somewhat close to a week. An RPA software can get it done in two minutes.

Banks that have integrated RPA into their system can offer instant banking options, 24/7 customer service with the help of chatbots and an advanced customer experience in general. All this with one enterprise software integration and almost no hiring additional resources.

Dealing with the Understaffing Issue in Healthcare

The healthcare industry does require some particular attention and potential automation as it has been suffering from staff shortages and overwhelm everywhere in the world for more than a while.

RPA is helping reduce the workload not only by taking on administrative tasks but also by automating some other medical processes that need to be done repetitively. At the Ipswich Hospital in the UK, RPA is being used to assist medical secretaries in their daily tasks. The software system organizes all clinical information of a patient and forwards them to a consultant thus running referrals smoother and faster.

A task that takes a healthcare professional about 20 minutes to complete is done by the software in 5 minutes without any possibility of human error. Anyone who has seen how busy a healthcare employee’s workdays are will admit this change is quite load relieving. The best part is that now the employees actually have time to do what they do best – providing people like us and our families with better healthcare.

Providing for the Growing Population

With the growing world population, one of the aspects that are most impacted is food production. Farming was never a simple job. A farmer does a lot more than just take care of the cattle and plants. It involves management in logistics, finance and many more.

Traditionally, this was a difficult and time-consuming task. But the world can’t afford to grow the same amount of food it used to 50 years ago. Farmers need help providing for the growing population. So queue technological support which in this case is Robotic Process Automation.

RPA can help in agriculture by controlling many processes and metrics by dealing with massive amounts of data such as monitoring livestock, crop yields and transportation rates. Using an RPA-integrated software in crop production can not only increase the productivity of the farm but also positively effect global food security in the long run.

And the Supply Chain, Of Course!

Supply chain management can be practically revolutionized with the help of robotic process automation. An RPA system will keep track of every single product within a database and take regular warehouse inventory. Moreover, the system can predict demand and request restock accordingly. RPA can also process return and refund requests much more smoothly and quickly resulting in better customer service.

Taking It a Step Further.

RPA can be integrated with machine learning and artificial intelligence technologies to create what’s called Hyperautomation where RPA tools can learn from themselves. Gartner has predicted that 65% of businesses that have started using RPA will soon incorporate AI into it.

The incorporation of Hyperautomation can grant these businesses ability to seamlessly adopt new technologies in the future hence keeping up with the modern demands, offering higher qualities and overall thriving in a competitive world.

Want to Build a Career in RPA?

Contrary to popular belief, Robotic Process Automation is not going to take away jobs. Rather it’s going to create more employment opportunities.

A 2020 survey on 1500 RPA professionals around the world says that jobs in RPA are not only in high demand but also have a high job satisfaction rate. 90% of them said that the RPA industry is going to expand in the next few years and 56% said that the demand for RPA in their companies has increased during COVID.

As you can probably tell, Robotic Process Automation has its usage spread across industries and processes. It can automate almost every repetitive process. And the best RPA software to use, at least right now, is definitely UiPath.

Do you have any ideas on how you can use RPA for more efficiency in your business? We can help, so do let us know today!
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