In my previous blog article “What is RPA”, I talked about Robotic Process Automation and shared a simple example of where RPA can be implemented and some of the benefits that RPA is bringing on to the organizations that have integrated RPA as part of their digital journey.
Industry research has shown close to 50% cost savings by automating data intensive, repetitive tasks by improving the accuracy and efficiency using RPA. Benefits for executives vary as per their business needs. I am sure everyone would agree that cost savings tops them all. This adds directly to the bottom line of the revenue and looks good on the charts when a new customer or investors comes in. Along with this lower operational risks, better customer experience, improved process handling, almost zero investment on new infrastructure and easy to implement and use adds to the list of certain benefits
I had a detailed discussion with my practice teams and industry experts and went through numerous articles that lists a ton of benefits of implementing RPA Solutions in an organization. Some of those include
1. Resource Utilization
As I specified in my earlier article, a lot of resources end up doing mundane repetitive jobs even though they could be used at strategic level to handle advanced tasks. This will lead to fatigue and boredom and eventually lead to lack of productivity, increased errors due to oversights and frictions among the peers or even boss. And we all know what happens then, a talented resource just moves on. Had the resource been given more responsibilities wherein they can be innovative, they are constantly on their toes to think and deliver. Thus, increasing productivity, innovation and at the end of the day customer delight. I can say that RPA allows critical resource empowerment, engagement and proper utilization. Just the things your HR will be happy about.
2. Accuracy and Delivery of Processes
Taking the above example, human fatigue can cause errors through oversights and miscalculations over a period of time. And this may lead to severe business losses. RPA Solutions enables you to set and define the processes easily and a robot will perform the tasks verbatim. Step by step without any deviation on its own.
One will also reduce the time that is required to complete a process. If the process required hours to complete earlier, it could be completed within minutes or even mere seconds depending upon the complexity of the process.
3. Cost Savings / Increased Revenues
Any C level executive’s dream, “how to achieve cost savings”. A human is limited by certain number of hours that they can perform in a day. For more intrinsic jobs which requires a 24/7 attention, a bot can deliver much faster as the work gets automated and run around the clock with the same infrastructure. With reduced time of process completion, the productivity also increases thus adding a lot to the revenue streams
4. Analytics and Insights
Since the processes are automated, one can easily pull out data in easy to read format that would help the business owners make better decisions for the future of organization.
A robot is not susceptible for manipulation and hence the data derived would be accurate 100% every time.
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