Robotic process automation (RPA) is a growing trend that is helping companies across a variety of industries improve their efficiency and productivity. Being able to automate repetitive tasks that previously took up valuable time and effort is a major win for any business.
Learn more about this technological trend and how it could help your organization.
What Is Robotic Process Automation?
RPA uses modern technology to partially or completely automate tasks that would otherwise be completed manually. In a 2020 global survey of business executives, 73 percent of respondents said their organizations have "embarked on a path to intelligent automation."
RPA may sound futuristic, but it’s helping companies right now achieve more efficiency. Of course, there are many tasks that only humans can do best. But RPA can work well for any type of task or workflow that is rule-based and repetitive.
Examples of RPA in Action
Now that we have an answer to “What is robotic process automation?” we can dive into specific use cases. Some examples of tasks you can automate with RPA include:
Processing invoices and matching the information they contain with other documents to ensure accuracy can be a time-consuming process. With RPA along with a records management system, you can automate these steps to improve efficiency and accuracy.
HR processes like onboarding involve a lot of repetitive paperwork. Imagine the communication between an HR rep and newly hired employee, and the difference between emailing back and forth with reading materials and documents to sign versus an online system that automatically walks new hires through all the necessary paperwork. This solution is more convenient for employees and saves HR departments significant time.
Manually entering inventory data and checking in on inventory levels to determine when you need to reorder can be an ongoing hassle. An RPA system for inventory management can automatically detect when items need to be reordered and can connect to other systems to adjust inventory levels with each sale.
While customers appreciate working with a human customer service rep in some instances, certain requests can easily be handled by automation software. Chatbots are one example of how RPA and artificial intelligence (AI) can come together to respond to customers’ queries with the appropriate answer or instructions.
Industries Revolutionized by Robotic Process Automation
Many industries are discovering how valuable RPA can be for improving their internal processes and helping them deliver a better experience for their customers and clients.
One of the biggest examples is the banking and finance sector. According to Grand View Research, the banking and financial services industries were market leaders in RPA adoption in 2019, accounting for 29 percent share of global revenue.
Some other industries that are embracing RPA include:
- Human resources
- And more
Trends in RPA
Over the years, people have innovated continuously impressive forms of robotic process automation. Today, there are a few trends we see shaping the use of RPA, including:
Using machine learning, RPA software can get “smarter” and become better and better at completing tasks like optical character recognition without the need for human intervention.
As software handles tasks automatically, it can also provide live reporting and create analytics reports from the data it collects over time. This enables companies to find patterns and generate new insights from repetitive tasks.
Don’t expect to see too many RPA software solutions installed on-premises. The cloud allows for remote access, expansive storage, automatic updates, and other benefits, making cloud deployment a popular choice for modern RPA solutions, just as it is for other types of software.
Partner with CPI to Optimize Your Business Processes
Now that you have a solid idea of what robotic process automation is and how it can benefit your business, CPI can evaluate your needs to determine the specific RPA solutions to enhance your efficiency and productivity. We help companies like yours obtain what they need to succeed, whether that’s new office equipment, managed services or software solutions. Request a quote or consultation to get started.