In the race to undergo digital transformation, RPA is often heralded as a straight-forward solution to streamline and automate critical processes, and rightfully so. Not only is RPA a significant time saver, but it also ensures improved services and profitability by making business processes faster, accurate and secure. It is key to note that RPA does not entail any kind of physical robot. Rather, they mimic human work by interacting with systems and processes the same way a human does, but better. The limitless capabilities of RPA come from its close association with Machine Learning and AI. Irrespective of the industry, RPA will more than likely outpace expectations placed on it to orchestrate a transformation.
To pick a few among many examples, an IT Managed Service provider based out of Europe, while running support for their clients were subject to handling over 15000 calls a month, spending a valuable amount of time in the 1st line of support. Because of the complex nature of the service, as well as the legacy systems in place, the average time spent by an executive on each call was approximately 6 minutes, often clogging up t he system and resulting in poor customer experience and satisfaction. Having implemented RPA, the company was able to deploy a virtual workforce that was able to complete the same tasks in less than 50 seconds. This notable 83% reduction in execution time with a near zero error was not just cost-saving, but was able to deliver a seamless experience for the customers. Such success stories with RPA can be found across industries, be it finance, telecom, manufacturing or even human resources.
The benefits of RPA are wide-ranging and far-reaching. RPA not just improves efficiency and accuracy, but also spares your workforce from needing to spend time on dull repetitive tasks, freeing them up to focus on building strategies and decisions that require human judgement and empathy, allowing your business to achieve significant and measurable improvements. A non-exhaustive list of the advantages provided by RPA would include:
Cost Savings: One of the biggest advantages from a robust RPA is the immediate and significant reduction in expenditure it can deliver. When automated, work is not just faster, but also become something that can be performed round-the-clock, resulting in better bottom line.
Accuracy of work: Even when careful, humans can and will make mistake sometimes. Multiply that chance of error by the number of employees performing routine tasks and the chances of running into mistakes shoots up in tandem. With RPA, you can get your bots to work for you with a near zero error rate, that can result in better satisfaction, which again is good for the bottom line.
Simplicity in flexibility: Automating tasks and workflows through RPA requires minimal coding or script writing, and in some cases, neither is required. This leaves room for even complex processes to be transferred from human to machine with little effort. This nature of RPA also allows companies to adapt automation to suit business needs on the fly.
Improved insights and analytics: Learning from the successes and failures can help your business leaders make better decisions for the future. RPA offers the ability to gather, organize, track, analyze, report on and store valuable data. That information can then be utilized to improve on current operations, address and correct issues in a timelier manner, accurately forecast and develop best practices.
Infographic section:
Faster: 4-5x faster than employees | Works 24/7
Low Costs: Cost reduction > 50% |Existing IT assets can be leveraged elsewhere to avoid repeating new investments
Predictable: Consistent | Error-free | Fully compliant | scalable throughput | Improved CX
Happier Employees: More time to focus on tasks demanding on empathy and human judgement | Improved moral from the lack of mundane repetitive work
Still not convinced that RPA is the way to move your company forwards? Get in touch with us and we’ll help you formulate solutions that cater to the needs of your business and industry.