Welcome to EZtek’s Blog!
Today, we will discuss Robotic Process Automation and its main use cases. Read this article till the end to find out how RPA is used in human resources, manufacturing and retail.
What is RPA?
Robotic Process Automation or simply RPA involves a software BOT to automate enterprise operations, eliminating inefficiencies, reducing costs and improving organizational performance. Modern RPA systems offer tools that partially or fully automate human activities. These kinds of tools cut a lot of time out of regular tasks, freeing staff for more creative jobs and upskilling.
We often get asked: Do all kinds of tasks need to be automated? As you can see, some tasks should still be done by humans, simply because their automation would involve high investments that rarely pay off.
According to a new report by Grand View Research, the Robotic Process Automation market size is expected to reach 25.66 billion by 2027.
What are particular processes RPA can automate?
Well, software robots can do various things, from simple copy paste or typing activities to those as complex as fraud detection or accounts payable.
What exactly can RPA BOTs do?
- Interact with an in-house application, user portal, website,…
- Open invoice emails with attachments and print them for records
- Transfer data from multiple input sources
- Create quick links to the key apps and simulate mouse clicks
- Copy and paste data
- Fill out forms
- Export data from an external system or third-party application
- Compare data and perform calculations
- Read PDF/ Doc/ Excel/ Texts
- Interact directly with consumers on messaging apps using Chatbots
- Use data analytics tools for decision making and predictions.
What are the benefits of RPA for business?
Reduce Costs
Our clients could cut costs with RPA by up to 25-50% since software BOTs cost about one-third the price of a full-time employee.
Consistent Quality
Complex repetitive tasks are executed at higher speeds and accuracy allowing for substantial risk mitigation.
Increased Efficiency
RPA software robots are designed to give employees more time to focus on higher priority tasks.
High Compatibility
RPA is fully agnostic and integrates seamlessly into any app, interface or server.
Key Risks and Challenges
Costs
The RPA implementation requires technical assistance and consultancy services.
Also, with changes in the business process, RPA systems have to be readjusted as well. These processes entail add-ons.
Process Selection
Before implementing robotic process automation into your business, you have to identify the processes which you want to automate.
Reactive Maintenance
It’s important to have staff available to fix RPA bot breakage.
Cyber security and Resilience
To protect robots from cyber attacks, make sure to grant management permission to trusted employees and secure the RPA software environment with external controls.
RPA Use Cases
#1 Manufacturing
RPA enables organizations to improve most of the processes within the manufacturing domain. The existing practice of enterprise resource planning – ERP automation has already shown its effectiveness in monitoring cash, raw materials, production capacity and business commitments, orders, purchase orders and payroll.
#2 Retail
Modern retailers implement CRM systems and use RPA to automate processes, such as extracting product data, inventory updating, importing websites and email sales. This just doesn’t stop there, the retail industry is expected to dive into extended futuristic automation and hence reach end-to-end robotic process automation.
#3 Financial Services
In the financial services sector, robotic automation is most commonly used to provide better compliance, mitigate risks and improve overall customer experience.
#4 Human Resources
With the use of robotic process automation, HR specialists can record themselves as they perform manual data transfers. We once developed a software BOT that can use these recordings to automate the data transfer each time they receive a piece of new employee information thereby making room in the recruiting team’s schedule.In conclusion, remember that your new RPA system must be aligned with your business strategy and goals. Define the desired ROI and ensure policy in corporate compliance. If you are not sure what processes to automate first, our team recommends starting with large repetitive ones.
Thank you for reading. This article was prepared by the EZtek team. We provide software development, UI/ UX design, QA and testing services.
