Robotic Process Automation (RPA) might be evocating images of popular Robotic-giants of Sci-fi movies in your mind. So, let us clear the air around this mystifying topic.
First, RPA does not involve any physical robot. Rather, the robot here is software for process automation being run on a physical or virtual machine. Simply put, Robotic Process Automation is a technology to automate business processes that are “if-then” rules-based, repetitive, and structured and thus eliminate the need for human intervention. It runs on end user’s systems like computers, laptops, or mobile devices.
The technology is governed by concerned business procedures and given inputs of instructions driving the business processes to automation. Then these robots, just like humans, capture data, interpret it, sets off responses, and also communicate with other systems to perform a wide variety of tasks.
What do the ‘vital’ statistics say about RPA?
The scale RPA application spans a wide range of processes that include processes like automatically generated emails, automating wide-ranging ERP systems, and even supply chains through various bots or RPA software.
Sales, Finance & Accounting, Banking, Human Resources, Healthcare, telecommunications, and various other sectors currently are flooding with opportunities for process automation. As per a study by Statista, in 2020, global spending on RPA is expected to grow up to 1.58 billion US dollars even after the economic slow-down due to COVID 19.
How RPA is useful to businesses?
Many organizations face the problem of precious talent getting sabotaged by boring and high-volume work that can be easily taken over by ‘robots’ in a more impeccable manner.
RPA when deployed to automate tasks associated with workflow and back-office processes can:
- Channelize critical thinking and intelligence of human workforce towards more pressing situations in rapidly evolving business environment.
- Create error-free and efficient execution of processes.
- Boost overall productivity and efficiency by its virtue of multitasking, faster processing, and precision.
- Saves enterprise resources like money and time, and free them for organizational development.
- Brings adaptability and flexibility to the system under constant process changes.
- Implementation of RPA is hassle-free, and only a little guidance or technical expertise is needed.
On-site service RPA Vs Cloud service RPA
There are two major ways of utilizing the RPA:
- One is on-site software robots (On-premises), the other is Cloud service.
- The fundamental difference between the two lies in the place where they are housed. On-premise software resides locally on individual businesses’ computers and servers. Whereas, cloud software is hosted on the vendor’s server and reached via a web browser.
Let us now dive deep into how cloud changes RPA.
What is Cloud-based RPA?
When cloud-native software is at the core of business process automation, it is called cloud automation or cloud RPA.
It is easy-to-access and convenient to use on any device and system connected to the internet. This cloud-based RPA set-up ensures the execution and coordination of workflows across the organization.
Cloud RPA enables users to automate any process via a web-based interface accessed in a browser like a cakewalk. Designed with built-in drag-and-drop actions and visual flow-charts, Cloud RPA makes a simple automation software that can be used by even a non-technical team independently.
Benefits of Cloud-based RPA
The cloud version of RPA has numerous advantages to offer. Some of them are listed below:
Cost-effective
Business process automation is hosted and managed by Cloud infrastructure vendors. This saves businesses from a huge investment to build and maintain in-house IT facilities. Rather, it is suggested that you choose your vendor and service model to get started immediately. Hence, the cost of ownership is significantly lowered.
Flexibility and access with ease
With only a web browser and internet connectivity, you can reach your RPA from any part of the world. It helps you get rid of the need to download and install the software on the local machine. And it also relieves the need to upgrade and maintain local systems.
User friendly
Modern-day cloud automation technologies come with ease of use thanks to their extremely intuitive interface. Also, choosing the right vendor eases most of the technical difficulties that are faced while selecting the right technology.
Faster set up
You can go live and start accessing your RPA almost instantaneously after the RPA process is set up. Hence, it results in improved ROI, cost reduction, and increased efficiency.
Easy to scale
You can always start on small-scale automation for a selected number of business processes. Gradually, when the demand increases, you can scale-up with additional bots or upgrade your processes without the add-on computing resources.
Hence, it is needless to say, that RPA proves to be a technological breakthrough for industries as they automate their entire business workflows efficiently. Some of the industries that are utilizing the RPA and benefitting from it are:
Industries already implementing RPA
1. Telecommunication
- Enhanced productivity
- Faster call resolution
- Cost-saving
2.Banking
- Better customer service
- Automated closure
- KYC, compliance processes
- Credit card, mortgage processing
- Identification of fraud
3. Insurance
- Processing claims
- Registration process
- Compliance and policies
- Risk mitigation
4. Healthcare
- Medical record maintenance
- Claim processing
- High-volume patient processing
5. Manufacturing industries
- ERP automation
- Data migration
- Material bills
Commonly used RPA tools
- RPA blue prism
- Uipath
- Nice
- Kofax Kapow
- Automation anywhere
Bottom line
Robotic process automation empowers organizations to consistently automate their undertakings across frameworks and applications. The essential objective of RPA is to supplant monotonous, tedious, and mistake-inclined manual work with the effectiveness and unwavering quality of virtual robotization innovation.
With 100% efficiency and zero mistakes, RPA along with the cloud technology has a wide scope of utilization across industries ranging from medical services to manufacturing to supply chain and banking.
