Robotic Process Automation (RPA) is a software technology that facilitates the development and management of software that simulate human actions while interfacing with digitized systems and software. It is presently making big strides in bolstering and revolutionizing businesses all around the globe, and statistics indicate that this magical ether is expediently blooming. 98 % of IT professionals believe that automating business operations is imperative to realising business benefits. 53 % of respondents have already begun their RPA journey, with 19 % intending to do so over the next two years. 80% of finance executives have used or plan to use Robotic Process Automation software (RPA). Additionally, it has been observed that by employing RPA, labor-intensive jobs can be decreased by 80 %, and manual errors can be substantially obliterated with a 99 % accuracy all the while saving time by 80 to 90 %.
Many global corporations have already executed Robotic Process Automation (RPA). However, applications of RPA are not limited. There is a lot more that can be done with the technology to enhance and optimise production, efficiency, and customer service and support. RPA will continue to offer even significant services to businesses, their clientele, and their personnel as it evolves sharper in the future. Coupling attended automation and RPA with artificial intelligence (AI) and machine learning tools is the next phase, which several organisations are actively exploring. This class of solutions, also known as intelligent automation, intelligent process automation, and cognitive RPA, allows businesses to automate more sophisticated, less rule-based operations. Needless to say, applications of RPA are something that all enterprises should be cognizant of in order to have a more lucrative and efficient route to the future.
Also read: How is RPA transforming IT operations?
TOP APPLICATIONS OF RPA
The economic advantages of RPA implementation are substantial and worth emphasizing. Payback was stated to be less than a year, with robots providing an average of 20% of full-time equivalent (FTE) capacity. RPA strives to satisfy and surpass expectations in a variety of ways. Additionally, surveys have shown that more than 90% of C-level executives report their companies currently have a certain degree of intelligent automation in operation. But, what are some of the most recent applications of RPA? What advantages does it provide, and how has modern industry benefitted from it? Listed below are a few of the leading applications of RPA:
ROBOTIC PROCESS AUTOMATION IN HEALTHCARE
Many incredibly sensitive client engagements occur in the healthcare industry, but there are also many time-consuming, tedious procedures and administrative functions that do not require technical expertise. From front-office activities to operational procedures to patient engagement and bill payment, RPA can automate tasks across the organisation. It can cut costs, enhance the pace of procedures, streamline activities, maximize the productivity of business processes, and optimize the patients’ experiences in healthcare institutions. The need for Robotic Process Automation in healthcare business is only expected to grow, with the global market forecasted to touch $10.7 billion in the next seven years, with a CAGR of 33.6 %, making the industry one among the best where applications of RPA can be observed.
ROBOTIC PROCESS AUTOMATION IN SUPPLY CHAIN MANAGEMENT
RPA in Supply Chain is expected to have a significant inﬂuence on the business process industry in areas of production, efficiency, and precision. In the supply chain, Robotic Process Automation is employed to automate processes that are now performed manually, leaving minimal possibility for errors and aberrations. Instead of monotonous tedious tasks, firms will be able to recruit and educate employees for problem-solving and brainstorming assignments leveraging robots. Furthermore, studies have shown that Robotic Process Automation has achieved a 43 % reduction in time for processes like credit, collections, invoicing etc. Despite the fact that Robotic Process Automation is still in its adolescence in supply chain operations, companies are moving quickly to automate their supply chains in order to make them more compact and productive. However, the industry will soon be an exceptional example of the best applications of RPA.
ROBOTIC PROCESS AUTOMATION FOR CUSTOMER SERVICE
Robotic Process Automation (RPA) improves and enhances customer service by reducing administrative workload. Customer service is sped up with software robots that gather data and documents from various systems, handle service requests, and update customer records. Customer requests can be responded to more promptly, and user feedback and satisfaction statistics can be better managed, thanks to robots. RPA also improves efficiency by assisting in the collection of data and documents, as well as the updating of client data and requests. Needless to say, customer service is one of the pivotal applications of RPA.
ROBOTIC PROCESS AUTOMATION IN BANKING
One of the best applications of RPA is in the banking industry. Leveraging technological breakthroughs leading to quicker, more reliable, and dependable services, the Banking and Financial business has seen exponential growth over the last several years. RPA assists banking and accounting departments in automating time-consuming manual operations, allowing employees to focus on more important activities and gaining a strategic edge for the company. RPA has been widely utilised in this industry to help organise and automate time-consuming banking activities. In fact, RPA in the banking sector is estimated to reach $1.12 billion by 2025, according to studies. Banks have been able to dramatically minimise the need for human participation by shifting most of the laborious, manual operations from workers to machines, which has had a direct influence on everything from productivity and efficiency levels to staffing concerns and expenditures.
ROBOTIC PROCESS AUTOMATION IN HUMAN RESOURCES
While not as well-known as other varieties of intelligent automation employed in HR, RPA is gaining traction among HR professionals as additional use cases emerge. RPA is currently often used in HR to automate tasks including consolidating or reviewing datasets, issuing job offer letters to candidates, onboarding new hires, enabling health plan registration, and even making badges for conferences and special events. Furthermore, RPA can be leveraged in HR to create purpose-built chatbots by combining it with machine learning and Natural Language Processing (NLP). When employees require guidance or to register claims or papers, they can connect with virtual assistants rather than a live worker. It has the potential to drastically enhance the movement and veracity of information to individual employees across the organisation, giving them easier access to data and ensuring that their claims are adjudicated more promptly. Once again this bolsters the proposition that the applications of RPA are limitless.
Observing the rapid expansion and the rate at which firms across industries have implemented RPA, it is apparent how RPA is forming the underpinning for modern business operations in the digital world. The applications of RPA are expanding at an exponential rate and businesses that do not adopt RPA and automation technologies are likely to fall behind in 2022 since they would not be able to compete on an equal footing. RPA is, without a doubt, a revolutionary innovation that has and will continue to storm industries around the globe with its visionary applications.
WHY CHOOSE INTONE FOR YOUR RPA NEEDS?
RPA can lead to significant savings on human resources as you expand, while also avoiding the repercussions of human error. Aside from the revenue RPA can save you, it can also spare up much time for your current staff, enabling them to concentrate on higher priority duties like business development. Knowing how and where to apply it, however, is crucial to achieving desired results. We at Intone are committed to providing you with the best RPA service possible, tailored to your needs and preferences.
This is what we offer:
- State-of-the-art front-end RPA, where we ensure that your customers have a superior experience and that they start to see your brand in a whole new light.
- Our back-end RPA can easily automate the most mundane, repetitive, and labor-intensive tasks to free up your employees to help them focus on higher-order tasks.
- Intone offers multilingual solutions as compared to the market standard of English only.
- Our advanced NLP understands customer requests and responds in a conversational manner with a minimum accuracy of 85%.
- Intone offers efficient omnichannel support through easy integration with commonly used customer support channels like Gmail, Outlook 365, etc.
- Intone offers top-of-the-line enterprise-grade security with a minimum of 256-bit encryption at both transmission and rest.
- Intone’s RPA will anonymize your data to ensure greater protection of sensitive data and information.
- Intone offers end-to-end hyper-automation with our low-code engine.