Robotic Process Automation (or RPA) incorporates automation through bots to perform mechanical tasks such as data manipulation, communication with other internal systems, generation of email answers, and transaction processing. Governed by structure inputs, machine learning, artificial intelligence, business logic, and Intelligent Automation, it aims to automate daily, repetitive tasks, reduce human work, streamline enterprise operations, reduce production costs and improve efficiency and productivity levels. In other words, companies can configure software that can capture the applications of specific processes, tasks or transactions and successfully replicate them.
These bots can connect to applications, move files and folders, complete forms, copy and paste data and extract structured and semi-structured data. Thus, the implementation of RPA reduces manual intervention, maximizes ROI, and helps create “programs that control other programs.” It is estimated that workers could save up to 80% of their time by no longer performing unnecessary chores, increasing employee productivity, and distributing a significant amount of time on higher-value tasks.
Implementing RPAs can lead to 3 types of automation:
1. Assisted Automation: This is the type of automation that happens in the front office. Bots are configured to work together with the staff.
2. Unsupported Automation: This is the type of automation that occurs when back-office automation is completed through a bot.
3. Cognitive Automation: Automation happens with unstructured data when the bot recognizes all formats of data.
Some of its benefits:
Several companies currently implement this solution, including Walmart, Ernst & Young, Walgreens, AT&T, and Deutsche Bank. But how can you know if this is what your company needs?
According to one of the latest reports from Global Market Insights Inc. by 2024, we will most likely see the RPA market reach $5 billion. For the most part, this is related to businesses adopting RPA to upgrade and improve their capabilities and streamline their processes while actively working to decrease overall cost. This shows how companies of all sizes plan to adopt this technology because of its usability and adaptability.
To discover the various ways in which an RPA platform could help your company maximize its potential, contact us to schedule a consultation.