What is Robotic Process Automation?

As we advance in technology, certain systems are created now and then, which can make the tasks of humans easier. When it comes to menial, repetitive tasks, it is always better to automate them and use human talent in more advanced tasks. In today’s blog, we shall discuss RPA.

What is robotic process automation?

Robotic process automation (RPA) uses automation tools to copy simple tasks of saving, deleting files, and the like. The automation is possible with the interaction of APIs and UI.RPA creates bots that observe human actions and mimics them again and again. Humans can get tired, but bots once taught can work 24/7 and also be error-free. RPA interacts with other unrelated software also to give desired results.

Businesses can benefit a lot from RPA’s as it frees lots of time of resources and they can be used in other complex tasks. Ultimately this results in higher ROI and enhanced business processes.

How does RPA work?

RPA works on a two-step process, first- A bot should be given defined rules and actions. Then RPA software initializes the bot to execute the task.

If we take an in-depth look at the functioning, it usually involves three components- Bots, Bot designer, and orchestrator.

Bots

Bots typically learn repetitive and rule bases tasks, with advancements in AI bots are now also able to perform tasks related to OCR and natural language processing. Bots are trained by using variables, conditions, and loops.

Imagine how much workload will be reduced if all sales reports, forecasts, budgets, and other mundane reports are generated by bots. The free time can easily be used by employees to do many complex tasks.

Studio

A studio is an environment where a bot is configured. The configuration of tasks will always vary from business to business. Although the interesting thing about RPA is that, it doesn’t require several complex programming skills.

Orchestrator

This is like a CPU of RPA; it is responsible for overall control and management of the tasks. It also helps in monitoring status, making bots work together, and connecting bots to third-party apps and alike.

Are RPA and traditional automation different?

Both aim to make processes efficient, but the difference lies in the approach.

RPA does not require lots of coding. It works on watch and repeats the principle for the bots. The developers of RPA do not necessarily require complex coding knowledge nor do they need to know all the involved technologies to their core. If they can make the apps operate at a sufficient user level. This is not the case in traditional automation, those programmers do need complex coding and expertise to run it well.

RPA is also faster in deployment. When cost is taken under consideration, businesses should make a wise decision, if you need full automation of several tasks, it’s good to go for RPA, but if they wish to limit only on few tasks then automation can be a better choice for them. RPA is easily scalable so if something long-term is planned it will prove to be cost-effective.

The benefits of RPA

1. Increased Productivity, efficiency, and accuracy

RPAs can perform tasks much faster than a human, a manual task for a human may take a few hours, but for RPA bots it is a matter of a few minutes. The cost and time saved by this can be put to better use.  Moreover, a human may need frequent breaks but RPA and work around the clock, the automated processes and coding help to ensure accuracy as well.

2. Increased Security

Businesses worry a lot about data security, with RPA there is no question of data leaks, even when it is interacting with various departments and systems.

3. Scalability

RPA is scalable and flexible to handle added processes at any point in time, all businesses wish to expand at a certain stage, and RPA can grow with the business as it is easily scalable.

4. Improved analytics

RPA’s can help businesses to gain critical data that can help them to make better decisions for the success of their company.

5. Improved employee morale

When many mundane tasks are removed from employees’ job roles, they are involved in many meaningful and analytical tasks, which makes them feel happy and engaged.

Challenges of RPA

1. Lack of skilled resources

In today’s job market, there is a high crunch of skilled resources. RPA cannot be established without a proper team. Also, while setting up, strong coordination from all departments of the organization is required. Any lag in streamlining the processes will make it a failure.

2. Unclear objective

Any big project needs a proper planning structure and coordination to make it a success. Everyone involved should be clear with the aim. RPA is new to many businesses they often have either high expectations or don’t know how to build it well. The overall unclear plan will again be a big challenge to face.

3. Picking the wrong RPA system

Picking the wrong system is yet another challenge. Due to a lack of knowledge or research companies invest in an RPA system which is a total mismatch, and they still strive to pull out the worth from it. It ultimately wastes lots of time, effort, and money.

4. Fear among employees

Many employees may fear that as everything is getting automated, their services won’t be required. This cultural shock is certainly one of the major challenges while implementing RPA. Organizations must assure and communicate the restructuring of duties way ahead to avoid such chaos.

RPA uses in various industries

Several industries around the world have lots of data and repetitive tasks to work with, lets’s see how RPA can help them.

Banking and finance

Several tasks like Account opening, customer queries, and fraud detection can be all automated with RPA. It can save lots of precious time and also keep the data streamlined.

Insurance

This domain includes several verifications and documents to process. Automation to access compliance, and policy management can help reduce the workload and save time.

Retail

The retail industry has lots of inventory and invoices to deal with. Customer management, and warehouse management if automated can help them a lot.

Healthcare

This industry saves lives of people, any delay in simple processes can cost someone’s life. It is always wise to automate several tasks like prescription management, information management, pay cycles, etc.

These are just a few examples of some domains in which RPA can be very helpful. Several more industries can enhance their efficiency and attain much more success from RPA. One should not fear RPA, it is not hard to make people lose jobs, and it will make the talents engaged in much more meaningful work.