Automation has been used for centuries to some degree, helping organizations across all industries to maximize efficiency, cut costs and improve service levels. One area of technology that is currently poised to disrupt the business world is robotic process automation, or RPA for short. This growing movement is making big waves and has the potential of having the most significant impact on the way we work since the internet was introduced.
What is Robotic Process Automation
For those who aren’t yet familiar with RPA, this is the term given to robot technology that is used to automate repetitive manual tasks, processes and workflows that were formerly performed by humans. Not only does RPA afford the ability to complete task much faster, regardless of the size of the workload in question, but it also dramatically improves accuracy levels. Greater output with fewer mistakes can help businesses achieve the growth they’re after.
How is Robotic Process Automation Different?
There are a number of distinctions that differentiate RPA from other forms of automation. One area in particular is how this advanced technology is capable of incorporating cognitive intelligence – that is, it has the ability to automatically analyze situations and proactively correct errors in a way that is similar to, yet much faster and more meticulous than human workers. Robotic process automation is also versatile enough to be leveraged in almost any industry and business process, from routine data entry work to service desk operations and just about everything in between.
Benefits of RPA
At the enterprise level, robotic process automation offers a number of distinct benefits, such as:
Little upfront investment required equals greater ROI
- Lowers expenditure associated with maintaining full-time employees (FTEs)
- Frees up skilled employees to focus the efforts on higher-value work
- Increased speed and enhanced scalability without the need to bring in additional staff
- Ability to produce work 24/7
- Improved accuracy levels, which is particularly helpful for compliance purposes
- Automated documentation, which is ideal for auditory purposes
- Easy to deploy and manage, regardless of IT experience/ability
Based on these substantial benefits, and the low cost of adoption, RPA is being leveraged by businesses large and small. Service providers in particular are taking advantage of how robotic process automation can help them significantly cut costs while also increasing output at the same time. This can be a game changer in terms of competitive advantage and the ability to remain profitable in an ever-changing economy. It’s also proving to be a much more affordable alternative to leveraging outsourced labor, with some of the numbers coming in as low as 1/3 less. And, because keeping processes in-house provides greater security and control it’s a win-win.
RPA is Here to Stay
Given the many benefits and increasing adoption across all industries, it’s clear that robotic process automation isn’t going anywhere soon. The time for organizations to sit up and take notice is now, before they end up behind the curve and ultimately being priced out.