What is RPA?
Robotic Process Automation (RPA) is an automation technology that works due to machine-learning capabilities. It handles a large amount of rule-based and repeatable tasks. The observation states that in any organization, employees struggle with rote work. Humans cannot perform their best when it comes to repetitive tasks with minimal value. RPA acts like an antidote to this problem. It automates repetitive tasks, freeing up time for the humans to focus on more analysis and strategy-driven work.
What are RPA's Functions?
1. It creates a digital workforce that can perform repeatable tasks faster and more accurately
2. It opens up the employees' time to focus on tasks that add more value to the company
3. It boosts employee morale by reducing the time taken to do process-driven work
4. It creates an opportunity for the employees to work on higher-level customer communication
5. RPA technology improves internal communication
6. It provides tools for the customers to find answers to their queries without involving human interaction. This elevates the customer's self-service experience
7. It reduces the time taken for an employee to go from forming an idea to its implementation quite dramatically
Additional Benefits of RPA
1. Improves Overall Experience:
RPA nearly eliminates all errors that are typically made by human workers. It shifts all the monotonous tasks from humans to robots. This increases productivity and improves the overall experience of the employees.
2. Finance and Accounting:
Finance and accounting are two sectors where RPA technology can be optimized to its full potential. This is because the processes are mainly rule-based. This is a big help in today's competitive financial market, where results have to be accurate and quick.
3. Human Resources:
There are a lot of mundane tasks that HR is required to do, such as performance reports, calculating retention rates, and so on. These jobs are labour-intensive and an unnecessary cost to the company. By implementing RPA, bots can take over these tasks.
Difficulties with RPA:
1. To create an environment where a software can host multiple tenants is difficult for a lot of organizations. Without multitenancy, RPA technologies can require dozens of servers that handle hundreds of robots. This will increase operational costs and infrastructure investments.
2. Technical issues like compliance and regulatory issues are a big problem faced by companies. This results in significant costs to businesses. Governance issues also play a big role in creating difficulties for organizations to adopt RPA technology.
3. Control processes are not clear in most companies that use RPA technology. This is because there are no drawn-out boundaries between business and IT. This creates a deployment issue for managing control of the bots, which is important when it comes to maintenance and design. This hinders the bots from optimal functioning.
Things to Know Before Implementing RPA Technology:
1. Study RPA technology to asses its feasibility and use for the company
2. The proof of concept should involve both business and IT working together to achieve a common goal
3. When the technology is implemented, ensure that ongoing support will be provided
4. Make sure that there are controls in place when implementing the technology. It is important to make a checklist of the distribution of control before a robot moves into production
5. Look for RPA technology that can be improved over time. This further reduces cost and increases efficiency over a period of time
6. The RPA technology vendor should be able to provide a cognitive roadmap. This helps the current employees focus on more value-based work
1. RPA should be a part of a digitization strategy for any organization, not the main plan
2. There should be a lot of research conducted to assess the feasibility and advantages of RPA technology for an organization
3. Vendors should be assessed and questioned on the capabilities and compatibility of RPA technology with the company
4. RPA does not replace jobs, instead, it redirects them. It improves employee satisfaction and provides scope for learning and growth
5. Business and IT should work together to be able to successfully implement RPA technology into their company