New technology is often amazing, but a lot of technology investments take time to show positive bottom-line impact. It is always advised to do a comprehensive analysis of the advantages and disadvantages before implementing any new technology and this is also applicable to Robotics Process Automation. RPA helps mainly in taking on business process roles.
Here are some advantages of RPA
Improves management capabilities of an enterprise.
Organizations with the capability to remotely schedule modern control and monitor the deployment of Robotics Process Automation software robots benefit greatly from the centralized management platform.
Enhanced customer experience
Robotics Process Automation by enterprises acts as a means to relieve employees from the workload from repetitive tasks which are high in volume, and which includes issuing purchase orders and processing claims. But RPA does enhance customer experience, also using its automation capabilities. It allows enterprises to provide higher quality service to the clients in a periodic and efficient manner.
implement RPA hassle-free
Implementation of RPA does not require setting up an API, which saves businesses huge costs and time. Robotic process automation comes with its own set of Graphical User Interfaces – which is easier to use and need little technical expertise. RPA systems are able to perform the same operations humans do such as clicks, pressing buttons, keystrokes, and so on, through the same UI.
Cost of Implementing RPA
RPA is growing rapidly at a rate of 57% year over the past few years, and the global spending on RPA software has crossed $680 million in 2018 and will reach $2.4 billion in 2022. More than four million robots are estimated to work in businesses by 2021, doing office, administrative and sales work. which will shrink error-margins and improve quality. As we all know a new technology is often dazzling, but a lot of technology investments take a while to have positive bottom-line impact. Automation, on the other hand, can be much cost-effective. While some expenditures will make you wait months or years before the return on investment.
Efficiency of RPA
The main reason RPA is efficient is because the cost of errors will drop. Your human employees are only human, after all. They’re not perfect. They make mistakes. And mistakes can be costly — not always stunningly big costs per error, but a lot of little costs that add up. First of all, errors need to be fixed, which takes time that could be better spent doing something else if not for fixing the error. That time is money. Errors also are costly to customer satisfaction and, potentially, to your organization’s reputation. Anything you can do to reduce errors is going to be a good thing. Robots can reduce errors. What about robots? Can they make errors? Yes, but not the same kinds that humans make. They won’t forget the next step in the process or make a mistake in typing, for example. They might get tripped up by an exception or an unresponsive application, but exception handling helps minimize any negative impact.
How Productive is RPA?
Robotic Process Automation delivers greater productivity in the workplace. It has picked up exponential growth in the last 3-4 years in off-the-shelf customizable platforms. With low investment and considerably reduced timelines to automate repetitive processes, organizations initially focused on RPA benefits like process improvements, customer satisfaction, cost-saving potentials, and automating repetitive nature of business processes. Today, productivity is factor that everyone aims to improve on. Productivity is important aspect to gain a sustainable advantage over competitors and supports to boost a position in the business environment. Productivity will increase with the front end and back end automation, and this can benefit employees, clients and enterprises as well.
How Accurate is RPA
Accuracy is a major factor concerning any organization’s growth. RPA promises to change the face of some businesses by providing accurate growth needs, well beyond simply altering the profit equation. With RPA one can change the way they approach customers. Some can crunch big data in ways they couldn’t before. Growth prospects are promising.
Security Concerning RPA
It is important to choose an RPA product that can store sensitive information tightly encrypted in a secure database. In the entire process of automation, encryption — the process of encoding data or passwords in a way that only authorized parties are able to access them — helps to ensure the highest level of access security.