Robotic Process Automation (RPA): Functionality, Top Benefits, and Applications

Today, when time is one of the most valuable assets, many entrepreneurs share their secrets of success. One fundamental secret is to delegate some responsibilities to others and concentrate on principal tasks. The same applies to business entities. With technological progress developing rapidly, many routine operations can be delegated to various robotic instruments, such as RPA.

By deploying RPA software, various institutions and businesses of any scale and sector benefit in many aspects, including faster workflow, accuracy, consistency, cutback in spending, and increased revenue. Let’s reveal the RPA functionality, practical applications, and advantages companies score from implementing RPA solutions.

What Is Robotic Process Automation?

RBA (Robotic Process Automation) is a top-notch technology designed to substitute human labor for automated processes. With the help of software, operations, such as data entry, data transfer, stock management, and many others, can be fully automated.

Briefly, RBA imitates human interactions with software to execute various routine tasks, for instance, logging into apps, calculations, and entering and/or copying data. Enhanced with AI and ML, the software can extract needed content from documentation presented in diverse formats.

How Does Robotic Process Automation Work?

RPA is based on bots that copy human ways of interacting with software. The technology allows automation of standardized actions and tasks leading to higher corporate output and time saving along with cost-reduction. RPA offers enterprises the scalability potential required to stand out in the market and sidestep rivals. This is an essential step accelerating digital transformation for enterprises that intend to stay on top of the game.

The good thing is that you don’t need to introduce changes in the existing IT ecosystem — RPA can be seamlessly integrated and used “out-of–the-box”. The software doesn’t require specific knowledge to use it.

RPA Software: Practical Uses

Automation of simple repetitive tasks is beneficial for enterprises in almost any industry as document flow is an integral part of running a legit business. The examples below illustrate the advantages of RPA implementation in some niches.

  • Finance sector. Financial institutions are renowned for massive document flows: client records, application forms, reports, bills, receipts, etc. Automation of simple processes and even complex calculations, including payment validation and reporting, accelerate a workflow notably, let alone high accuracy of task execution.  
  •  IT departments. Request, ticket, and update reminder processing can be automated reducing the workload of employees. Besides, RPA can be integrated to perform compliance checks and simple setups without human intervention.
  • HR departments. RPA solutions can significantly shorten the time required to process job applications given specific parameters or execute routine onboarding documents and tasks.
  • Marketing & Sales. Marketing and sales teams can focus on strategic and creative tasks if repetitive actions, such as lead acquisition, updates, ad purchase, reporting, and analytics are entrusted to robotic mechanisms.

RPA Features and Functionality

The key idea behind the RPA technology is the automation of ordinary tasks carried out usually by employees. So RPA bots imitate human actions. Overall, the RPA functionality includes the following aspects:

  1.       Interaction with various systems through API integration or screen scraping.
  2.       Bots determine their actions based on a decision system that relies on inputs collected from other systems.
  3.       Bots have interfaces for programming them.

The feature set of RPA tools may vary but typically includes:

  • Analytical support
  • Security capabilities.
  • Source control.
  • Exception handling (rule-based).
  • Dynamic debugging.
  • Seamless integration with third–party apps.
  • Built-in OCR (optional).
  • AI- and ML-based intelligence.

Top Benefits of RPA Implementation

Saying that RPA automation is popular is an understatement because intensifying competition in the market requires adoption of new technological instruments to gain an advantage and earn a great reputation among customers/clients. Hence, enterprises of any level strive to find solutions to perform better, faster, and less costly. RPA along with OCR, AI, ML, and other mechanisms have been designed to automate daily workflow, streamline cross-department operations, lower costs, and increase overall corporate output. 

    • Time-saving. Once automated, operations are performed at a faster speed with higher accuracy. Hence, employees can dedicate their valuable time to complex tasks.
    • Error elimination. RPA automated workflows have demonstrated higher accuracy compared to the same work volume carried out by a human. Stress and fatigue are common factors causing errors in manual document processing. As machines cannot be tired, the risk of errors is minimal. 
    • Increased ROI. Faster and error-free performance results in improved overall performance and higher ROI.
    • Increased compliance and security. Reduced human participation in processing valuable data prevents breaches and data leaks. The software has built-in security instruments to prevent unauthorized access. Additionally, RPA solutions are compliant with existing government or industry-specific guidelines and rules.
    • Easy scale-up. Automated processes open up new possibilities and free resources for growth.
  • More productive staff. Disburdened of routine actions, employees can dedicate valuable time to strategic and creative tasks.  
  • Enhanced customer services. Better performance ⇒ better customer support and service ⇒ better reviews ⇒ new customers ⇒ higher revenue.  

Why Should You Consider RPA Implementation?

RPA can be one of the initial steps in the digital transformation procedure. The latest RPA solutions include built-in ML & AI algorithms for higher precision, self-learning, and self-adjustment.

Even if you run a profitable business and plan to scale up, automation software should be the first thing to consider. Robotic technology helps to free valuable resources for other tasks assuming the responsibility to execute daily recurring tasks much faster and with much more precision.

With diverse RPA tools available in the market, RPA solutions stand out due to their custom-tailored functionality adjusted for industry-specific goals. Intelligent automation of workflows takes businesses to an entirely new level, opening new growth prospects.

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