Robotic process automation (RPA) is proving to be a very critical technology for the organisations as it helps to build efficiencies, reduce costs and increase the productivity of the global enterprises. It is being keenly sought after by the CEOs and CIOs of global organisations who are looking to build scalable organisations for the future.
Why Robotic process automation (RPA):
- With the increase in globalization and speed to market, the role of the RPA has become a very critical component in the gamut of the day to day business process. RPA involves automating standardized predictable business processes, thereby enabling business users to free up more time to focus on serving their customers and to focus on higher value-added work.
- RPA also enables aspiring organizations to scale effectively at a fraction of the cost and time that they previously encountered.
- RPA uses software robots that ape the human tasks. It helps in integrating digital systems and human actions in order to achieve the goals of Business Process Optimization. RPA captures data, drive applications, triggers responses, and communicates with other systems to perform a variety of tasks.
- The RPA’s key advantage lies in using the available existing infrastructure through smart integration without affecting the existing underlying systems, that are expensive to replace.
Major functional areas, where RPA can be implemented include -
- Supply chain & Financial Management (Procure-to-Pay)
- Finance (Travel expense bill passing, Claims processing)
- HR (Hiring and resource on-boarding)
- Project and Program Management
- Portfolio Management
- IT Asset Management
- Advanced Analytics
Some Key benefits of RPA for an organisation include -
- Error minimization
- High compliance
- Reduced operational risk
- Improved employee and customer satisfaction
- Quick task turnarounds
- Higher employee productivity