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Robotics process automation (RPA) is a hot topic generating immense anticipation as it gains momentum and promises a new ecosystem of intelligence that reshapes business and society in the 21st century. The integration of basic automated business processes with artificial intelligence and cognitive processes that think and learn like humans heralds a paradigm shift in how work is performed. But robots providing sound financial advice or acting as personal assistants are not fully here just yet as this new class of digital labour continues to mature. In the meantime, firms face imposing challenges: separating reality from hype, mapping out plans to position vastly diverse IT and business processes for the coming transition, and managing changes in how workers are deployed. Firms failing to prepare now for the robotic revolution risk being left behind.

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How RPA supports Business Transformation

    Robotic process automation does not require programming skills. It is basically a 'Robotic' software that organizations configure to capture and interpret the actions of existing applications employed in various business processes.

    Once RPA Software has been trained to understand a specific process,it can then automatically process, manipulate data, trigger responses and communicate with other systems as necessary.

    In simple words it simplifies business, optimize resources, reduce cost, compress cycle time and improves compliance and quality. With Robotic Process Automation (RPA), core business processes are made less tedious and repetitive. This brings about process and operational efficiency, thus improving economies of scale.

Benefits of RPA in business transactions

  • Robotics process automation can create a 25-50% cost savings
  • A software robot can cost as little as 1/3rd the price of an offshore full-time employee and as little as 1/5th of price of an onshore FTE.
  • RPA offers improved service delivery model by increasing production and accuracy, reducing cycle times and decreasing the need for ongoing training
  • Automation phases out human intervention, thus reducing possibility of human errors.
  • Robotic automation tools can work 24/7. Typically one robot can do the work of 3-5 FTEs.
  • Robotics allow data and processes to be retained onsite.
  • Increases scalability and flexibility in business processes.
  • RPA improves accuracy by up to 85%. Avoid human error more easily, unlike in businesses that do not have RPA.

RPA Implementation

    Effective automation relies on good business process design,with multiple factors to consider,including system use,business impact,data touch points,role of labour and investment.
    Design,development and implementation usually takes around 2-4 months time depending on the size and nature of business.

    Implementation of RPA involves following steps:
  • Identify opportunity to automate
  • Validate the opportunity
  • Select the design model
  • Develop the automation plan
  • Deploy the pilot phase
  • Roll out the plan
  • Maintain the automation activity