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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.
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.
Both RPA and enterprise IT tools help with automation. According to Gartner, this software is expected 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:
This software requires minimal investment, and the realization of benefits is fast.
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;
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.
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.
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.
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:
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 gated implementation guide today!