Megha Verma
This post was originally published on https://datafloq.com/
Robotic Process Automation is the term that has been gaining traction in the top-functioning industries during the last few years. But what exactly is RPA? Let's discuss;
*What is Robotic Process Automation?
*
Robotic Process Automation, in the simplest of sense, interprets and captures repetitive processes to trigger automated responses, initiate new actions, and establish communication signals with other systems. That’s cool, right? No wonder, the latest report by, “The Insight Partners suggest that the Robotic Process Automation is expected to account for a massive $25 Billion industry by 2025.”
Now, back to the topic. RPA, when applied with a systematic and strategic approach, substantially improves your business process’ efficiency, and cuts operational costs- that’s a verified fact.
But how does RPA Impact Major Industries?
All industries, including small, middle, and large enterprises benefit from RPA by automating and expediting back-end processes- for over 70% of the processes across any industry are mundane, and repetitive.
Although RPA automates the menial, dreaded, and mundane business processes- the benefits of RPA vary by different industries. With that said, let’s shed some light on RPA benefits, and use cases for 6 major Industries:
The retail industry is structured upon various rule-based, structured, and repetitive processes. Not only these processes could benefit from faster execution, but eliminating trivial clerical errors could add to an enterprise’s earning in lost revenue.
To accelerate these back end processes, promote cost-effectiveness, and streamline business processes- Retail industries often adopt RPA software with other intelligent automation and AI technologies.
RPA helps in automating these back-end tasks, analyze the immense volume of data, and render valuable insights- if and when prompted.
Business process automation increases efficiency in the Insurance sector by flagging fraud claims, conducting background checks, and a lot more; eventually, translating real and significant value.
Healthcare, like banking and other critical industries, is highly regulated for quality control, precision, and other critical factors- the list is in-exhaustive.
Though smart RPA bot implementation, RPA can assist the healthcare sector monitor and regulate processes like claim administration, medical billing, cost compliance, patients’ records, and a lot more.
Business process automation across these processes adds to increased data quality, business efficiency, and cost-saving amongst other benefits.
RPA bots improve the accuracy of data, quicken production lines, and ensures on-time shipment of products. Though RPA promotes growth for the manufacturing sector, there’s still room to automate operational, and other critical back end processes.
All these little aspects and nuances regarding automation makes it quintessential for manufacturing industries to dedicate time, and resources whilst searching for the right RPA Implementation partner.
Processes related to tasks like recruiting, accessing, vetting, and processing employees- all these make up for a part of an HR’s job profile- but are repetitive and time-consuming.
Automating these recurrent processes in the HR section of an enterprise, frees the HR employee to focus on high-priority tasks whilst promoting employee satisfaction, and improved efficiency.
RPA bots (even better if integrated with AI and ML technologies) can help banking industries with tasks related to customers’ satisfaction- including but not limited to booking appointments, pulling and entering data into CRMs, studying patterns to detect fraud, and suggest the best financial products, and more.
Since banks involve complex processes, it’s always advisable to invest in Robotic Process Automation Services
I am Creative diginative who spends too much time on social media. Interested in combining technology and creativity - loving all things nerdy.
