RPA: This is How Bots Deal So Well With Automation
RPA: This is How Bots Deal So Well With Automation
Executive Summary: If there is a repetitive, tedious, or mechanical task in the digital business that you’ve wished someone else could handle, maybe here’s how to get it.
Robotic Process Automation (RPA) is the twenty-first century’s biggest revolution towards the transformation of an organization. This blog post will cover aspects like how RPA works, how to get value from it, and why companies use RPA as a pillar in their digital transformation strategies.
To understand better what’s the deal with it, think of this scenario: An employee needs to copy the complete data of a CRM. Therefore, he/she would copy all the information and paste it into a Word document. Afterward, the information needs to be converted into a PDF and sent to whoever needs it.
Instead, the bot will learn the process and be capable of handling it from scratch until finalizing it. Then, the bot will get in charge of the complete task and can do it once and again 100% accurately. While doing so will produce cost savings, reduce operational risks, and even free up staff for higher-value tasks. (See this example of Automation Anywhere’s Automation 360 works.)
According to Deloitte, companies have detected these benefits while implementing artificial intelligence technologies (53% of businesses have already started the RPA journey). Therefore, it’s understandable that, by 2022, the RPA software and services market will top $4.3 billion, according to the business research institute APQC.
Why is it beneficial?
The hype for RPA is linked to the success of creating a digital workforce that automates repetitive tasks and becomes of great help for employees in different departments. Therefore, the trend of using RPA will keep growing! Specialists expect that it will increase to an almost near-universal acceptance over the next five years and accompanied by these improvements:
- 86% improved productivity
- 59% cost reduction
- 90% improved accuracy/quality
- 92% improved compliance
And if you’re still wondering what to automate, then think about repetitive tasks that include front and back-office processes. This might consist of tasks related to calculating, saving and closing a recurrent document.
There are other responsibilities to mention, in which the humans interact directly with applications associated with CRM, accounting, supply chain systems and databases. With this in mind, the automation by RPA can be of immense help in areas such as Accounting, Human Resources, Life Sciences, Healthcare, Call Centers, Banking, Insurance and Finance, and Insurance, to mention a few of the available options where you can rely on RPA. Sounds fair enough?
The next frontier
Automation can also be joint with artificial intelligence (AI) and Machine Learning (ML). Together they create new capabilities for the bots to provide additional features like processing unstructured data.
Ordinary bots are limited, as they can process structured data by repeating actions they’ve learned previously. In those cases, they work with standardized and recognized formats, such as spreadsheets, databases, or APIs.
With the addition of AI, bots can handle more complicated responsibilities. In this new scenario, it’s possible to recognize patterns in data that only humans were capable of understanding before. At the same time, they can filter the most relevant data within both semi-structured and unstructured data.
With AI, bots can handle ambiguity and make decisions similar to their human counterparts. They will do so from their experiences and interactions with humans and other machines. Let’s see the list of benefits when Cognitive Automation is working on bots:
- They can understand better documents no matter the format.
- Automatization can occur in a virtual environment.
- Bots behave in a versatile and robust way, even in changing situations, as they learn spontaneously based on environmental factors. As a result, they understand and get faster and wiser with each use.
- They can create other bots: There are solutions capable of empowering them to identify their actual tasks, so they develop bots to replicate those tasks. Therefore, productivity and quality increase.
Bots need us too
Bots will identify specific instances where they better call a human to ensure proper processing.
Human intervention will still be needed in some instances. That happens when a critical decision is required to complete the process. The system will notify the user if they need help on what to do next.
For example, one task may start when the employee reaches the bot to fetch information from various sources; then, it will be capable of auto-approving claims aligned with pre-set guidelines. After finishing the task, the employee will look if there are some exceptions to handle independently. Afterward, after the collaborative process closes, the job can be counted as successfully finished.
When a company implements RPA, employees will say goodbye to repetitive tasks. At the same time, they will be able to add more value to more specialized, intuitive and creative responsibilities.
In the end, the RPA delivers, ensuring compliance of 100%, improving the whole process.
Next September CRG, with our partner Automation Anywhere, will offer a webinar to go in-depth into every aspect of RPA. So prepare your questions and join us for further information about this automation opportunity. Let us be your trusted advisor in your journey to RPA.
Written by: Arturo Prado