Robotic process automation, or RPA for short, is a software technology that allows you to easily build, deploy, and manage software robots.
These software robots are designed to emulate human actions, such as understanding what’s on a screen, completing keystrokes, navigating systems, extracting data, and more. But unlike people, software robots can do all of this faster and more consistently without needing a break.
Summary
RPA and intelligent automation
In order for RPA tools to stay competitive in the marketplace, they will need to move beyond task automation and start offering intelligent automation (IA) instead. IA expands on RPA functionality by incorporating sub-disciplines of artificial intelligence, like machine learning, natural language processing, and computer vision.
Intelligent process automation requires more than the simple rule-based systems of RPA. RPA can be considered as “performing” tasks in contrast to AI and ML, which put more of an emphasis on “thinking” and “learning,” respectively. RPA uses data to train algorithms so that the software can carry out tasks more rapidly and efficiently. With artificial intelligence being incorporated into more RPA tools, it will become harder to tell the difference between the two
Where is RPA being used?
● Insurance
● Banking
● Healthcare
● Manufacturing
● Public Sector
● Life Science
The benefits of RPA
There are several advantages that come along with RPA, a few of which are listed below:
Coding knowledge
RPA doesn’t always necessitate that a developer is the one to configure it; there are drag-and-drop features in user interfaces that make it simpler for those who don’t have technical backgrounds to get started.
Rapid cost savings
Because RPA lightens the load for teams, employees can be reassigned to other tasks that do require human input. Doing this enables organizations to see an uptick when it comes to productivity and ROI.
Higher customer satisfaction
Bots and chatbots can help improve customer satisfaction by reducing wait times for customers.
Employee morale
RPA can help improve employee morale by lifting repetitive, high-volume workloads off your team. This shift in work allows employees to focus on more thoughtful and strategic decision-making, which positively affects employee happiness.
Better accuracy and compliance
By programming RPA robots to follow specific workflows and rules, you can reduce human error, particularly for work which requires accuracy and compliance, like meeting regulatory standards. RPA can also provide an audit log, which makes it easy to monitor progress and solve issues faster.
Existing systems remain in place
Robotic process automation software is designed to automate tasks by imitating the actions of a human user. By working on the presentation layer of existing applications, bots can be used in situations where you don’t have an application programming interface (API) or the resources to develop deep integrations. This means that implementing bots will not cause any disruption to underlying systems.
Organizational culture
RPA will result in the reduction of certain job roles; however, it will also give rise to new roles to manage more complex tasks. This, in turn, will allow employees to focus on higher-level strategic thinking and creative problem-solving. To ensure successful outcomes in automation and digital transformation projects, organizations need to promote a culture of learning and innovation. With the right educational tools and training programs, you can prepare teams for the ever-changing landscape of job responsibilities.
Difficulty in scaling
Despite RPA’s ability to perform multiple tasks at the same time, it can be difficult to scale up the program in a large company due to constantly changing regulations or internal updates. The Forrester report says that 52% of customers have trouble expanding their RPA usage. A company must have at least 100 working robots to be considered an advanced program, but few RPA projects get beyond the first 10 robots.
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