We are living in a world where adoption of automation is instrumental for organizations to improve its efficiency and productivity and provide us with better quality of products and services.
As a part of these automations, Organizations are adopting Robotic Process Automation (RPA) to streamline their businesses while empowering their employees with better roles to encourage creativity and productivity, as it helps them put their time to better use rather than work on monotonously mundane tasks.

What Sceptics Think

There are many myths surrounding RPA which are keeping the sceptics away from accepting its potential and implementing in their organization. A few of them are

• It will replace work force
• It is expensive to implement
• It wouldn’t fit into their industry
• It should be implemented only to reduce process cost
• It will automate everything

The Facts

While none of the above statements are true about RPA, it is important to know its capabilities to understand why an organization should consider implementing it

• It is a tool designed to automate repetitive & simple tasks
• Can work without human intervention thus letting it work tirelessly round the clock till the processes are complete
• Eliminates the chances of possible human errors
• Provides higher speed and throughput
• Processes can be synchronized using multiple Bots, thus ensuring seamless execution of sequential/ linear processes
• It is limited to work only on the front-end, thus avoiding any ambiguity of what’s happening in the backend.
• All actions can be recorded & analysed and then be optimized for better performance
• It is relatively easier to implement and has a quick time to deployment
• It can be implemented to automate activities on most Applications

Once RPA is implemented to automate such processes, an Organization can get the employees to focus on higher value-added activities improving both business results and employee satisfaction.

Use Cases of RPA

The uses cases to implement RPA are limitless. However, there are a few which are widely implemented:

• Quote-to-cash
• Procure-to-pay
• Bank Reconciliation
• Customer onboarding
• Loan Application processing
• Data validation
• Insurance Claims processing
• Bank Reconciliation
• Candidate sourcing
• Payroll automation
• Periodic report preparation and dissemination

Depending on the RPA tool implemented, complex use cases can also be fulfilled by integrating it with Machine Learning and Artificial intelligence and much more.

Industries

RPA is Industry agnostic and can be implemented across any vertical. A Few industries that have taken the lead are Banking and Finance, Insurance , Healthcare , Retail and Manufacturing and many others are following suit.

When to Implement RPA

If your organization has any or all of these challenges with the processes and it is directly or indirectly impacting your business performance, It is time you considered automating it by implementing RPA.

• High Volume & Repetitive
• Low fault tolerance
• Time Sensitive
• Error prone
• Inconsistent Manpower requirement
• Multiple processes that needs co-ordination across departments

Conclusion

Robotic Process Automation is here to stay and has been a boon for many organizations that have implemented it . It also has the buy-in of the employees , who have earlier feared losing their job to these automations. RPA tools will only get better over time with lot more capabilities added to it.