Robotic Process Automation is the Game changer of Business Processes today. Know how.

By POOJA BISHT |Email | May 15, 2019 | 8961 Views

Often confused with Physical robots, Robotic Process Automation is the use of software robots by businesses today to carry out complex tasks which are complex to be done by humans. Many of the business processes and tasks involve working with so many complex steps that are harder to be done by humans. In fact, time-consuming as well. The complex tasks, if done also will take a huge amount of time which can be processed in seconds using RPA.

An RPA works on 3 factors:
  • Efficiency
  • Cost saving
  • Faster Execution
  • Minimal Human Errors

Faster execution of the complex tasks involving minimal human errors and low costs are the salient features of using an RPA technology, and so adopted by many of the businesses today. And its true, businesses which will be failed to adopt RPA will be left behind.
A list of Industries I have mentioned here using RPA to the full potential to maximize business operations and profits.

Read the below part of the article how  Robotic Process Automation is the Game changer of Business Processes in the following industries:

Healthcare
The big lines in Hospitals for billing, data entry of patients' details and for various general processes often take a huge time resulting in long queues which are frustrating.  At the times of emergencies and chronic disease diagnosis, the queues and a long time in processing and billing make the process tiresome for the patient and its family members. Using RPA tools in these data entry, billing and in general processes could easily handle the long queues in hospitals and solve the big problem of patients.

Manufacturing
Most of the Manufacturing industries are switching to RPA for more streamlined operations across the value chain and in cost savings. Physical Robots are already in usage by the Manufacturing industries and now the usage of software robots is prominent.  Processes at the back office such as communicating with a customer, procurement, inventory management, and payment processing are often complex and take a lot of time by the human workforce to manage. These processes are easily handled by using RPA leading to cost savings and time-saving.

Retail: 
For big retail companies and small retail shops having a large number of customer and stakeholders to deal with sending emails, tracking shipments, managing orders are the daily tasks to manage with which time are taking. Using an RPA tool, retail companies easily manage their different orders, shipments, and bill processing using RPA. The process has become from a cumbersome to easier and faster-using RPA now. 

Banking
Banks are the heart of an economy. They need to be smarter and efficient for managing the different operations that it needs to undertake in the economy. The entire population of a country depends on the banking system and the security is obviously a major issue concerned with it. The back to back tasks of the entire day is hard to control and manage using the conventional methods of processing the data. Using RPA tools, the processing of the day to day information along with the security of the credentials of the populations is managed effectively. The whole processes of a banking system become more efficient using an RPA tool.

Insurance
Feeding up the necessary details in insurance claims and the various work processes that were earlier done using conventional methods and used to take a lot of time are done in steps using RPA tool. Every of the insurance company now deploys RPA tools to effectively process its customers' data and in increasing the efficiency of the processes.

Telecommunications
Fraud data management and updating the customers' data 
is the utmost priority of the Telecommunications Sector which is done by using RPA tools by the sector. The telecommunication sector is growing day by day with the number of active mobile users increasing rapidly. Faster execution of the customer data entry and concerning with different processes involved in maintaining customer data and security of the personal data is required. All these tasks are efficiently controlled by RPA in minutes and with lesser costs involved.

Source: HOB