Enterprise Adoption of Robotic Process Automation
Robotic Process Automation (RPA) has been growing at a rapid pace, with the global spending on RPA software likely to reach $2.4 billion by 2022 according to Gartner. RPA refers to the process of automating repetitive tasks with the use of robots in an organization. According to a report by Gartner, a single RPA bot could be equivalent to 30 fulltime employees.
Organizations are focusing on RPA to streamline enterprise operations and reduce costs. Rules-based business processes can be automated with RPA thereby enabling users to focus on more value-added work.
Business Benefits of RPA
Organizations can improve the efficiency and reduce human error and personnel costs by implementing RPA. By implementing an RPA strategy and executing processes by deploying bots, companies create the digital workforce and hence reduce hiring and training costs.
Bots do not require custom software or deep systems integration and are easy to implement. This enables growth of organizations without increasing expenses significantly. Bots not only perform tasks at a faster rate than humans, but also allow employees to focus on tasks requiring human intelligence instead of focusing on repetitive tasks.
RPA helps organizations on their journey towards digital transformation by ensuring better customer service, compliance of processes with regulations and enabling employees to be more productive and less operational.
Business Processes Suitable for RPA
The business processes which are repetitive in nature and involve manual intervention are the best candidate for RPA.
Following are some of the common business processes where RPA could be leveraged:
- Invoice processing: Vendors submit invoices in disparate formats like paper copy, fax, email, word document, PDF, etc. Manually transferring this data into a financial database can be error-prone and time consuming.
RPA can be used to automatically process invoices minimizing the need for human intervention.
- Account Receivable: Account receivable (AR) management involves the process of ensuring that customers pay their dues on time. AR automation simplifies the processing of a large number of customer invoices and reduces the time spent in collecting payments from customers significantly.
RPA also ensures other benefits such as reduced incidence of errors, improved customer service and reduced cost of processing payments.
- Helpdesk: RPA can help to minimize the workload of IT helpdesk by reducing some of the repetitive and rule-based tasks such as password resets, data access requests and re-enabling disabled accounts, etc.
The benefits of RPA include optimized costs, increased user satisfaction and improved IT employee productivity.
- Account reconciliation: A crucial responsibility of the accounts department is the reconciliation of accounts by verifying the balances for accuracy. This involves comparing documents in different formats manually leading to the possibility of errors.
Data extraction can be automated with RPA bots increasing the accuracy of the reconciliation process.
- Payroll: The payroll process is rule-based and repetitive requiring a large volume of data entry. This makes it time consuming and can cause delays in payment leading to employee dissatisfaction.
With RPA the payroll process can be automated, with the bots taking care of the transactions end-to-end avoiding delays and inaccuracies.
- Sales operations: As part of the sales process, there is a huge amount of data entry into CRM and ERP systems. This causes the possibility of errors and duplication of data thereby hindering staff productivity.
RPA can be used to perform the end-to-end automation tasks. This not only increases productivity but also improves the customer experience and generates more business.
Conclusion
techcarrot has helped many customers to take the benefits of RPA. With our end-to-end RPA consulting and implementation services, we can help you enhance productivity, increase scalability and reduce operational costs.
Partner with techcarrot and digitally transform your enterprise with RPA.
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