More and more businesses are turning to technological processes to automate their business to streamline enterprise and reduce costs. With business process automation (BPA), professionals can save time by eliminating tedious, repetitive tasks and spend more time on higher value work and focusing on developing important relationships that bring opportunities for the business.
Robotic process automation (RPA), an emerging technology practice for BPA, was introduced to replace manual work on rules-based business processes with artificial intelligence (AI) workers. Let’s take a look into what RPA is, and how it can help align with your business goals.
What is Business Process Automation?
Business process automation is the use of technology to eliminate recurring tasks and replace manual effort. Personnel and systems are organized through workflows. A report by Forrester in 2017 indicated that business process automation can cut operating costs up to 90 percent.
BPA does not only entail traditional data management software to keep up with your company records. It has evolved into systems of programs that integrate all applications. Automation handles both complicated tasks like troubleshooting network issues or managing personnel and simple programs like social media marketing services. BPA can help increase efficiency, lower costs, and streamline processes.
What is Robotic Process Automation?
Robotic process automation (RPA) is a business process automation technology that allows a computer software robot (bots) or artificial intelligence (AI) workers to integrate the actions of a human interacting within digital systems to execute a business process. These tools automate interactions with the user interface by repeating a set of demonstration actions by the user. While BPA automates processes to work in harmony with manual work, RPA tends to focus on replacing people in the process by replicating human behavior with technology.
Why should you employ RPA?
Less cost, more productivity
RPA helps businesses reduce staffing costs and human errors. According to McKinsey & Company, RPA deployment can potentially offer return on investment of 30-200 percent in the first year. RPA can work non-stop round-the-clock without breaks or pausing the fix errors, meaning it can get more done than a human doing the same work. A data entry bot is estimated to have the capability of 4-8 regular employees.
If there is ever a sudden increase or decrease in the workload, it is so much faster and easier to add/remove bots than hiring and training new employees or staff downsizing. RPA systems are designed in a way that’s scalable according to the growth of your business.
Zero down time
Bots can work 24/7 at maximum capacity without slacking, rest, sick days or holidays. Even when humans are enjoying our breaks and vacations, you can rest assured your RPA system is getting the work done without supervision.
Unlike the process of obtaining new human staff, implementing bots into the system is so much faster and less complicated. Instead of posting a job, going through resumes, conducting interviews, hiring process, training, etc., your software provider can set up bots to be ready to go in a few days.
The more people know confidential information from your business, the higher the risk of data leak and fraud. Unfortunately, in many cases fraud happens internally. KPMG’s 2016 Global Profiles of the Fraudster report found that “65 percent of fraudsters are employed by the victim organization and a further 21 percent are former employees.” On the other hand, bots are not capable of committing fraud or “betraying” as they are programmed to work and only work. Moreover, bots don’t have to save/memorize passwords like human employees, so the risk of password breach is lower.
Where to begin?
Whether you are considering or have decided RPA implementation for your business, we at Congero Technology Group are here to answer any questions you might have throughout this process. Talk to our experts today to figure out what software system is best for your company.