Before we get into the details of the RPA and the finer aspects, let us understand what is RPA? Know the RPA meaning here.
RPA or Robotic process automation is nothing but a technology driven by business logic and structured inputs, intending to automate business procedures.
By using the RPA tools, a company can configure a robot or so-called software application so that these tools can capture and interpret the applications meant for processing any transaction, data manipulation, activating responses, and communicating with digital systems.
The RPA systems can range from simple processes like generating an automatic reply to an email to complex processes like deploying thousands of bots and every bot programmed for automating jobs in an ERP system.
RPA automation- how does it help
With the help of the RPA robotic process, organizations can reduce the staffing cost and incidence of human error. A managing director at Deloitte LP, David Schatsky, cites an instance when a bank was able to redesign the claim process by deploying 85 bots that we’re able to run 13 processes, thereby handling as many as 1.5 million requests annually.
Bots are cost-effective and cost less if they are to be implemented and require no custom software or integration of deep systems. Schatsky also states that the characteristics of bots and their implementation are crucial since companies can experience growth without the need to add additional expenses to their operating costs, which leads to less friction among workers.
Aside from the above instance, when robotic process automation comes into play, many enterprises are supercharging their automation processes by integrating RPA with that of the cognitive technologies, which include speech recognition, machine learning, and NLP or natural language processing, thereby being able to automate tasks of a higher order that has in the past required the judgment and perceptual capabilities of the human beings.
Where will RPA robotic process automation fit?
According to Landerman, working as CPO at Olive states that common applications of RPA are the programs that include repetitive functions or are data-intensive procedures, where there is the anticipation of logic-based outputs. Landerman has shared the following four check-offs to help you understand the type of functions where RPA might fit in. These four basic check-offs include the following-
- The process must essentially be rule-based.
- There must be sufficient volume in the task that is to be performed.
- The process must be repetitive and take place at regular intervals. Also, it must have a pre-defined trigger.
- There must be defined outputs as well as inputs.
Aside from the above applications and functions, other business units that include HR, customer service, data-intensive programs, rules-based and repetitive processes, insurance, and financial services fit in the bill.
