From Chaos to Control | Empowering Business Managers with RPA
RPA is crucial for business managers. Learn why!
Robotic Process Automation (RPA) continues to garner significant attention from business leaders and managers for a multitude of reasons.
RPA promises to boost efficiency for organizations as employees can leave the manual tasks to the robots and focus on the more meaningful and higher-value tasks by radically driving down the cost simultaneously. In short, RPA works wonders for your company’s efficiency.
The Buzz is Real – Some Eye-Opening Facts!!
Organizations are hungry to improve process quality, accelerate speed and enhance productivity at the same time. Fortunately, RPA has the power to address all of the above three factors while cutting down operational costs.
- “The RPA Market Size Globally is estimated to reach $7.64 billion in 2028.” —– Globenewswire.
- “A whopping 81% of companies plan to increase their investment in robotic process automation technology to achieve their financial saving goals.” —– Robocorp.
- “Organizations can reduce operational costs by 30 percent by combining hyper-automation technologies with redesigned operational processes.” —- Gartner
These statistics clearly show how RPA will continue to dominate the business transformation domain and catapult business leaders’ growth trajectories.
How Does Robotic Process Automation Help Businesses?
Robotic Process Automation has revolutionized the concept of how businesses work. RPA software is not an embedded component of an organization’s IT infrastructure, but it sits on top of it, allowing a company to implement a digital workforce to work alongside human employees. Companies across various industries or markets utilize RPA to free employees from mundane low-value tasks to perform higher-value activities requiring human creativity and inventiveness.
RPA helps business leaders to:
- Optimized Resource Utilization and Increased Productivity
- Encourage their employees to upskill themselves and take up more critical functions
- Save massive costs by automating regular mundane functions
- Minimize chances of error and eliminate rework
- Enhance the overall efficiency of their organization
What can be automated?
A question constantly hammering the brains of business managers is how to identify a process that makes a good candidate for Robotic Process Automation. The various business processes where RPA can be used include multiple repetitive tasks and low exception rates and can easily be defined with a set number of rules.
Top RPA Benefits that Attract Business Leaders
Listed below are the most significant benefits of RPA in business processes and improved business KPIs:
- Optimized Resource Utilization and Increased Productivity
RPA robots are designed in a manner to perform specific routine tasks. It assists the employees and frees up their time for higher-value strategic activities and completing the same amount of work in less time. It saves the cost and time your business would desire to catapult productivity.
- Increased Efficiency
Robotic Process Automation increases efficiency manifold. Human efficiency is limited as they can dedicate only a definite number of hours daily. However, RPA software is not reestricted to the rule of a limited number of hours. You can use RPA to your advantage 24/7 and 365 days a year. An RPA robot can perform tasks equivalent to what 2-5 full-time employees can achieve manually.
- Enhanced Accuracy
To err is human. Even mirror mistakes may cost you hefty business amounts. In addition, it consumes massive time to manually identify and rectify those mistakes. However, the good news is that with RPA, you can eliminate processing errors and achieve benefits like accuracy, flexibility, and timeliness.
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- Non-Disruptive Nature
Most business owners and managers are reluctant to change or upgrade their legacy systems due to three main reasons:
- The cost associated with replacing the legacy systems
- Business downtime
- The complexity of IT infrastructures
Implementing RPA in business processes also extends to your legacy systems. It is not embedded into your IT infrastructure instead RPA lays on top of it and can automate daily operations keeping your core tech program intact.
- Boost Scalability Opportunities
Business managers often find themselves at a crossroads when they finally want to expand their business to the next level. If the business is not flexible enough to adjust to the increasing number of tasks and functions, they can face significant challenges when scaling their current processes to maintain the pace of growth. This is where RPA helps boost scalability since it can support any number of business functions to help you achieve your objectives. Business leaders can leverage RPA to adjust the routine tasks that your business expansion requires. Thus, RPA helps leaders to manage unpredictable market demands without hassle.
- Better Security
RPA bots perform specific tasks in a certain way. Thus, you gain one more advantage of incorporating RPA in business, i.e., security. Since RPA operates on a granular level, it eliminates the risk of data leaking from one facet to another.
- Superior Analytics
One of the most noteworthy business benefits of RPA is improved analytics. RPA helps businesses to gather valuable data that can be used to make informed decisions about a number of factors like work volume patterns, cycle times, errors, etc. RPA gathering and differentiating data in separate fields assist business managers in enhancing decision-making at the macro and micro levels and allows them to streamline their business processes to achieve optimum efficiency.
- Enhanced Customer Service
The old adage “The Customer is King” cannot be more true, and customer satisfaction, or more aptly, customer experience, can make or break a business. Meeting customer demands is no easy feat; only one mishap is enough to break their trust in you and push them towards your competitors. The customer demands keep fluctuating, making it more challenging to satisfy them. However, when dull, repetitive tasks are assigned to bots, it frees up your employees’ time to attend to customer queries and resolve problems quicker and better.
- Automated Responses & Triggers
An RPA system has scheduling capabilities and assists managers with completely automated and semi-automated scheduling. The trigger can be anything in unattended automation, such as an email or a document. Businesses can identify specific areas in their operations that can be wholly or partly automated using triggers and responses that help eliminate the human effort and speed up the process.
- Enhanced Communication
With the correct assistance of triggers, RPA can automate the task of document creation and modifications. This eliminates the pressure of manually updating and keeping track of tiny updates from time to time. RPA ensures that business processes and operations execute seamlessly, and on-field workers and end-users receive the latest information.
Critical Strategies for Business Managers to Drive Change in RPA Adoption
Your RPA strategy should focus on three critical elements of your business, i.e., people, processes, and technology. This will help enhance your employee skills, customer needs, workflows, and IT capabilities. The blend of these elements will eventually drive your business outcomes. The key strategies for driving RPA Adoption should include:
- Identifying employee resistance
- Designing a communications plan early on
- Delivering communications consistently through the implementation cycle
- Sharing success stories and encouraging proactive suggestions for automation opportunities, but managing expectations properly
- Creating an up-skilling program
- Resource reallocation strategies
Conclusion
We live in an era of ingenious cutting-edge technology that is volatile and complex, yet replete with possibilities. Business leaders do not need to understand the codes and scripts that underlie automation, but they do need adequate knowledge to make informed decisions that convert to business value. Adopting technology like RPA can give you the competitive advantage needed to reach the unrivaled spot in your industry. As new technologies like OCR and AI come into play to further complement robotic process automation, it will significantly impact operations.
Brainstorm with the right RPA partner to determine the impact of Robotic Process Automation on your people, procedures, and policies. Reach out to TSP to consult RPA experts today. Drop us a note at info@tsp.tech to say hello!
