RPA Technology 101: What Is It And How It Works
Introduction To RPA
Robotic Process Automation is a creative way of working on tasks that can easily be classified by the use of Artificial Intelligence (AI).
Robotic: Machines that mimic human actions are called Robots.
Process: Steps in the sequence which lead to a meaningful activity.
Automation: Any action which is done by a robot without human guidance.
So, mimicking human actions to perform a sequence of steps that lead to meaningful activity, without any human guidance is known as Robotic Process Automation (RPA).
RPA Technology For Successful Applications Across All Industries
Small as-well-as large scale enterprises around the world are slowly adopting Robotic Process Automation for diverse logics. Every industry has its own different needs and eccentricity that RPA helps in fixing it, from simple to complex problems.
Employee Productivity In Retail
The essential use-case for RPA is in improving worker productivity. The bureau of labor statistics (BLS) in the US estimates that over 5.9 million workers are working in the retail industry. Businesses spend billions of dollars on hiring, training, managing people, most of which have failed to show an increase in productivity.
The global retailer has occupied AI-powered chatbots with co-operating with employees and providing the information they needed on time. Some of the 500+ robots the company brought on board also do the kind of work that employees would find dull, tired of, or make mistakes, such as sifting through tens of thousands of pages of audit documents.
But now with the help of RPA, it is efficient to do the time-consuming work.
Customer Service in Energy in Utilities
Deploying several software bots to automate receipt and processing of service requests tasks such as scheduling appointments and informing technicians of their jobs. The ability to process thousands of applications every month, without human interference, handle customer communication, especially during peak-period.
Customer Relationship Management in Financial Services
The firm deployed RPA bots to perform data-entry tasks that finally emancipate customer service agents from entering and duplicating information across multiple windows. Using RPA to complement and support customer service agents, empowering them to interact better with the customer.
Repetitive processes in insurance claims, data collection from multiple sources, extracting agreement terms, manual reconciliation, etc. Are only a few things that the financial services industry has started automating.
AI and ML-based RPA now helps organizations make vital decisions regarding a user’s creditworthiness, fraud detection, avoiding financial crime, etc.
Read Also: RPA use cases in Different Industries
Finance and Accounting Management in Manufacturing
RPA became more important even in the finance and accounting functions of the industries. Manufacturers to see a 12x improvement in near time, 5x increase in capacity for handling amount and a 100% payment clearance, etc.
Remote-worker Productivity in High-Tech Industries
High-technology industries are searching for innovative ways to improve the productivity of employees who work remotely or from home. Improving productivity from remote work and human resource utilization through RPA, AI, etc.
As-well-as, Using RPA for Healthcare, Human Resource, Information Technology, and many more sectors help in doing work quickly and efficiently. The journey of RPA has been fabulously exciting, positive, and expect no less.
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