Nowadays, Robotic Process Automation or RPA is one of the essential parts of many companies operating solutions. A Global Robotics Survey in 2019 showed that RPA will decrease costs by 22% and increase turnover by 11% within the next three years. So, what is exactly RPA? What are RPA benefits for businesses? Let's take a look at the content below to clearly understand.
Robotic process automation or RPA is defined as a technology that automates different business processes. contribute with various types of software. Three types of RPA. Each of them has both specific benefits and limitations.
- Automatic assistance – run on the user’s desktop to help users complete their tasks faster. Such implementations create important costs reduction and a better experience. However, inconsistencies in the desktop settings like display settings can make RPA solutions fail. Moreover, sometimes the user’s desktop may become locked when automated steps are being executed.
- Unassisted automation – requires no task and monitoring from humans and runs 24/7. The RPA software accomplishes tasks and alerts the user only when something is wrong. It’s a perfect tool for optimizing productivity. However, such RPA requires complex data structure and clearly defined rules models.
- Hybrid RPA – in this model, employees and bots work side by side. They transfer their tasks back and forth to each other. Hybrid RPA tools automate the work related to structured data. To optimize efficiency, bots and employees can implement different tasks at the same time. Hybrid RPA helps companies to achieve automatí operation on a more diverse range of activities and processes.
There are several benefits that RPA technology bring to businesses in several industries:
- Error rate reduction – RPA completes processes in the same designed way every time. They reduce errors and inconsistency across various tasks. RPA robots are programmed to follow rules. They are compliant and consistent.
- Compliance – RPA solutions both track performance and store all the data for controlling compliance with governance and regulatory requirements. They also reduce human association with sensitive data and decrease the potential for fraud. After instructing, RPA robots execute reliably, reducing risk. Everything they do is under surveillance. You have the full control to operate in accordance with existing regulations and standards.
- Employee productivity improvement – by automating repetitive tasks, RPA solutions make employees more productive by reducing their mistakes and free them for higher-value tasks. As a result, teams enjoy higher morale and greater engagement.
- Easy implementation– RPA bots usually don’t require systems integration. That’s how they enable companies to grow without adding significant expenses or creating friction among workers.
- Costs saving: According to a statistic, RPA can reduce processing costs up to 80%. In less than 1 year, most companies already have a positive ROI, and potential further accumulative cost reductions can reach 20% in time.
- Scalability: Across business units and geographic areas, RPA performs a massive amount of operations in parallel, from desktop to cloud environments.
RPA is now rapidly adopted by many companies from banking, retail, insurance, utilities, and telecommunication industries and many other industry businesses. ITC Group is a technology development company that supports you in programming RPA softwares that fits your needs. We provide innovative solutions and modern technologies that bring sustainable growth and consecutive success for the clients’ business and ours in return. ITC Group contributes our best effort to your business success. Let contact us and experience the best consultation for your business software development.