The Ultimate Guide To How Robotic Process Automation Works
How long do your employees take to complete mundane, repetitive tasks? A study by the Bureau of Labor Statistics revealed that an average American spends more time at their workplace than they do asleep.
That’s great, right?
Not quite!
Another study by Harvard University found that employee sleep deprivation causes American companies to lose around $65 billion annually.
Employee productivity is one of the major challenges that businesses face, which is why robotic process automation is a hail mary for business owners and managers. This blog will highlight what RPA is, how it works, and, most importantly, how it will benefit your business. Here’s all you need to know about robotic process automation.
What is Robotic Process Automation?
Operational inefficiencies can be costly to a business, which is why the adoption of RPA is on the rise. A study by ISG revealed that by the end of 2020, 92% of companies are aiming to adopt this technology to streamline bottlenecks in their operations.
RPA configures software or bots to emulate human actions to execute business processes. This technology is able to handle mundane and repetitive tasks with ease while still maintaining the integrity of the work. For example, you can leave tasks such as data entry and simple rule-based digital tasks to the bots allowing your employees to focus on more complex tasks that require human judgment.
Is RPA The Same as an Enterprise Automation Tool?
Both RPA and enterprise IT tools help with automation. Gartner says to expect RPA software to be worth $2 billion in 2021, despite the economic downturn caused by COVID-19.
Robotic process automation is different from enterprise automation tools in that it is:
- Non-intrusive and uses the available IT infrastructure without disrupting the systems
- Relatively affordable and conducts tasks within a shorter time
- Cost-effective and cuts down operational inefficiencies
- High scalable and easily adapts to the dynamic business environments
This software requires minimal investment, and the realization of benefits is fast.
How Does RPA Work?
The adoption of technology among companies has been on the rise, but RPA is changing the whole game. A survey by Deloitte revealed that 53% of the respondents had already implemented robotic process automation, and more than 75% of them were planning to scale up their implementation.
RPA uses software bots to run applications, capture data, communicate with existing systems, and trigger responses with the aim of optimizing business processes. This technology is dynamic & versatile and is commonly available in 2 variations;
- Intelligent bots: they are able to analyze past and current processes to identify how employees perform tasks. They then follow the employee’s actions on a PC, including mouse clicks, and after collecting and analyzing enough data, the bots are able to conduct the tasks themselves. These types of bots are most suitable for unstructured data.
- Programmable bots: defined parameters set by a programmer guides this type of bot. Before they begin working, a step by step process has to be mapped out. They are best suited for complex tasks because the setup process is very time-consuming.
Even though automation tools are widely used, robotic process automation strikes the perfect balance between sophistication and ease of use. In fact, recent technological advancements are geared towards improving this software using machine learning and artificial intelligence.
Top Features of RPA
1. High Levels of Business Intelligence
Unlike other IT tools, robotic process automation has the ability to analyze data and decide on whether a process should be performed. This decision is often based on the set logic parameters.
2. Flexibility of Use
RPA is very dynamic, and companies can use it for a variety of functions. Its adaptability and ease of usage make it the perfect tool for eliminating business inefficiencies. It is also possible to customize the bots for use in processes that are unique to a business.
3. Agility
This software is agile and non-invasive and works with the existing IT infrastructure to perform tasks.
4. RPA technology requires a controller, the bot, and developer tools
5. It is a cross-functional application.
6. It is a computer coded software.
Applications of RPA in Organizations
Here’s every company director’s dream: to increase business efficiency while cutting down on costs. Well, RPA can help you cut costs by a whopping 80%!
Robotic process automation can help with:
- Operational scalability: this software is flexible enough to increase or decrease functionality based on the workflow. When there’s too much work to be handled, these bots can easily be deployed without incurring a lot of costs.
- Increase accuracy: RPA technology has been developed to stick to the set parameters. This ensures that the bots do more work without making any mistakes.
- Productivity enhancements: even though most employees work for 8hrs a day, they also take breaks in between, probably don’t work over the weekend, and take leaves. Implementing robotic process automation can be equated to having an employee who works all year round and doesn’t make any errors.
- Compliance: the RPA bots are consistent and super compliant. Once the program sets the parameters, they stick to them and execute all tasks reliably.
Is Robotic Process Automation the Right Fit for Your Business?
Are you looking for ways to automate processes that take up too much time for your employees? RPA software is revolutionizing the business world by increasing efficiency, accuracy, and productivity. The best part is that you don’t have to spend a lot of funds for its implementation.
Robotic process automation leverages software bots to execute daily tasks, relieving your employees of repetitive duties. This gives them time to focus on more complex tasks that require human interaction, like the enhancement of customer satisfaction.
Are you thinking of adopting robotic process automation? Implementing an RPA may seem easy, but using an external advisor who is an expert is the best way to reap the maximum ROI from it. Let us conduct an audit of your organization to determine whether this solution would be beneficial for you. You should also get our free implementation checklist today!