Robotic Process Automation: A Revolution In Business Technology

Over the past 10 years, the ongoing rise of information technology has promised to transform the workplace. One must only look at the rising trends of digital nomads and online freelancers to see that the nature of work is changing. Combine these trends with the exponential rise of remote work in the wake of COVID-19, and it's easy to see how technology has improved the way we work. After all, without tools like Zoom and Microsoft Teams, businesses worldwide would currently be at a standstill.

However, work in the digital era has also led to a rise in tedious, time-consuming tasks. The modern workday is now a flurry of clicks, cuts, copy-and-paste, which can make even the most exciting professions feel mundane. Thankfully, the rise of business automation is changing this trend for the better.

While we often hear about the sexier side of machine learning and artificial intelligence in the news, these technologies aren't only about self-driving cars or digital assistants. In recent years, one of the most impactful (yet lesser well known) developments in these fields has been the rise of robotic process automation. This exciting technology, which can be viewed as the lesser-known cousin of artificial intelligence, has the potential to fundamentally change how today's businesses operate.

While it doesn’t get much attention in the press, it’s essential to understand what robotic process information is and how it can provide numerous benefits for today’s enterprises.

What is Robotic Process Automation?

By definition, robotic process automation (RPA) refers to software packages that can be programmed to automate basic business tasks. In other words, RPA is a form of process automation that allows businesses and employees alike to streamline workflows and focus on more pressing tasks. While the term "robotic" conjures visions of superhuman, Terminator-like machines, in this context, it is much different. With RPA, a number of software bots, sometimes referred to as digital workers, execute tasks that are both mundane and extremely time-consuming for humans to perform.

For example, leading use cases of RPA include generating invoices, processing returns, or comparing prices. Outside of requiring plenty of mind-numbing man-hours to perform, all of these tasks are well-defined, rule-based processes that must be completed often throughout almost every organization. This is where RPA really shines, as it is an excellent solution for situations where:

●     Processes have defined inputs and outputs

●     Tasks must be completed hundreds (or even thousands) of times per day

●     Procedures are repeated at predictable intervals or have a well-defined trigger.

Generally, the utility of RPA is only limited by the expertise and creativity of the user. RPA has been shown to be successful in areas ranging from health care and information technology to customer service and warehouse management. The widespread use of this technology is a result of the many benefits it provides.

Highlighting Key Business Benefits of RPA

With each passing day, RPA is gaining more traction in businesses around the world. This is due in large part to the numerous benefits provided by RPA. In fact, entire books have been written on this subject alone. With this in mind, here are some of the key business benefits provided by robotic process automation:

●     Cost Savings: In today’s marketplace, the bottom line is everything for a business. One of the most significant advantages offered by RPA is the considerable reduction in expenses. When business tasks are automated, they get completed fasted with zero errors. Such improvements lead to nearly instant cost savings.

●     Greater Control: Many large enterprises are known to outsource sensitive tasks (think quarterly expense reports) to external third-parties. As a result, many companies are exposing themselves to greater risks without even realizing it. Adopting RPA ensures that such work remains in-house, which enables organizations to maintain greater control.

●     Insight Through Analytics: Learning from past trends is one of the best ways to make informed decisions about the future. RPA software offers businesses the opportunity to gather, track, organize, and analyze mountains of useful data in one central location. In turn, this data can be used to improve ongoing operations, address issues before they arise, and develop better business approaches as the marketplace changes over time.

●     Maximize Employee Potential: As a manager, would you rather have your best employees working on mind-numbing, repetitive tasks or tackling your organization’s most significant challenges? Implementing RPA enables employees to focus on maximizing skillsets to pursue meaningful goals. Furthermore, after an RPA system is up-and-running it requires little-to-no upkeep, which frees up IT to focus on more important projects.

●     Simple and Adaptable: While RPA is a high-tech solution, it requires no coding experience. This allows for rule-based processes to be transferred from human to bot with no friction. Better yet, automated workflows can be adapted on the fly, which enables organizations to maximize opportunity while keeping aloft in today’s rapidly changing business environment.

These are just a few of the many benefits that organizations reap after adding robotic process automation to their existing workflows.

Robotic Process Automation: A Solution For Business Inefficiency

Whether or not we’d like to admit it, many of the tasks we do at work could likely be automated. Implementing RPA software throughout today’s organizations could be the solution to this problem. When selecting the RPA software that is right for your use case, consider opting for a leading solution.

As of this writing, some of the top RPA software providers include Blue Prism, Automation Anywhere, and UIPath. Additionally, consider utilizing resources such as Gartner PeerInsights, which aggregates reviews to help companies find the right software for their needs.

Most importantly, remember that RPA is only a tool. Like any tool, robotic process automation is only effective if used properly. Robotic process automation promises to solve many of today’s most annoying business inefficiencies. However, it is up to the end-user to ensure a successful implementation. If the right RPA software is combined with the appropriate use cases, an organization is guaranteed to experience its benefits of process automation immediately.