The global RPA (robotic process automation) market reached a value of $1.89 billion in 2021.
Businesses are always looking for ways to grow and improve, and for many, RPA is a viable solution. It’s a great way to handle simple tasks effectively, freeing up workers to handle more important jobs.
So what is robot process automation, and how can it help your business?
What Is RPA?
Robotic Process Automation is a modern technology that uses software to streamline enterprise operations. It does this by automating various tasks that would otherwise require manual input, saving on both time and manpower.
It uses structured inputs and business logic to manage different processes within an organization. This typically includes things like data manipulation, response triggering, transaction processing, and cross-system communication.
From RPA, many businesses move on to other more advanced tools. Some typical examples are IA (intelligent automation), ML (machine learning), and AI (artificial intelligence).
What Processes Can You Automate With RPA?
A huge range of tasks can be automated using RPAs. It can range from something as simple as automatic email responses to something as complex as the deployment of thousands of bots with different jobs in a single system.
The exact processes that you might want to automate will depend on the nature of your business. Some operations are quite common for RPA integration.
1. Client Support
When clients need assistance, speed is crucial. If a customer is waiting for some data or information that they need, the faster you get it to them, the happier they’ll be.
Traditionally they would have to wait for someone to review their request, and then find the data they need. By using RPA you can automate this process so that the data is presented to the customer immediately. This also means they can get what they need at any hour of the day.
2. Sales Orders
When handling sales orders, your employees will need to input data into your CRM system and carry out other tasks like processing sales orders and invoicing.
All of these tasks can be automated to save a lot of time and improve customer service. This can also ensure your database remains cleaner and more organized.
3. Invoice Processing
Invoice processing is another task that can be dull and time-consuming. It might involve using different file formats, and often requires workers to handle various email attachments. Doing all of this manually isn’t ideal, and automating it can make it far more streamlined.
An RPA system can locate and analyze files much faster than a human. Using RPA for this won’t only improve the process, but your workers will have better job satisfaction if they don’t have to worry about such a tedious task.
4. Hiring Employees
This is more beneficial for larger companies, or those with a higher staff turnover. RPA can generate job offers, and begin a workflow process when someone creates a new account. This can make it easier to guide people through the application process and will ensure your business gets everything they need from potential employees.
5. Revenue Cycle Management
Revenue Cycle Management (RCM) is used to track client information from registration until the final payment. It involves insurance verification, data entry, and reauthorization.
All of these tasks are dull, repetitive, and time-consuming, so your employees will benefit from automating these processes. This can also make things more efficient for your clients, improving customer satisfaction.
The Benefits of RPA
As technology advances, RPA is becoming more viable in different businesses, and the capabilities of systems are improving. This means the list of benefits is always growing, and there are already some major advantages to using RPA.
Cost Savings
One of the most important advantages of automating business processes is that it can save a lot of money. Rather than paying employees to spend hours carrying out simple tasks, you can automate them. RPA software can work independently, so requires very little intervention.
Time Savings
Most of the processes that RPA systems can handle aren’t particularly difficult, but they could take a worker a long time. Automating such processes will speed things up, leading to increased customer satisfaction as they get what they need much faster.
Accuracy
No matter how much training and experience your employees have, human error will always be a factor. Small mistakes can lead to big problems, so you want to keep these to a minimum. Automated systems don’t exhibit human error, so you can trust the work they do to be completely accurate.
Productivity
In most organizations, employees have various tasks they need to handle. By automating the simpler tasks, your workers will have more time available to focus on more important aspects of their jobs. Improving business productivity within your business this way will result in increased profits and faster growth.
Employee Job Satisfaction
Interacting with customers doesn’t always go smoothly, but bots can help with this. Providing better customer support means improved customer satisfaction, and this will be reflected in your employees. They’ll also be happier that they don’t have to spend as much time doing mundane tasks that can now be automated.
Scalability
Scaling a business can often be a challenge, but RPA is very flexible, making it easier. If you experience increases or decreases in your workload, your RPA system will have no trouble handling such changes. This is ideal as you won’t have to make any changes to your workforce when there’s a variation in demand from your customers.
Robotic Process Automation Solutions
Robotic process automation can prove to be beneficial for various businesses. It saves on costs, increases productivity, improves customer satisfaction, and is easy to scale with your business.
At Techromatic we specialize in RPA solutions. With our help, you can maximize the potential of your workforce, helping your company grow and succeed. To find out more about how we can help your business, click here to contact us today.
