Robotic Process Automation enables enterprises to create true virtual workforces that drive business agility and efficiency. The Definition of RPA is a virtual workforce, comprised of software robots that can execute business tasks on enterprise applications, becomes an integral part of an enterprise’s greater workforce. It is managed just as any other team in the organization and can interact with people just as other employees would interact with one another. Virtual workers (robots) complete business processes, just as a person would, but in less time, with greater accuracy and at a fraction of the cost. RPA stands out for its ability to impact business outcomes, resulting in significant ROI.
According to the Institute for Robotic Process Automation (IRPA), almost any organization that has many different, complicated systems that need to mesh together is a good candidate for RPA. In fact, across nearly every industry – finance, insurance, healthcare, legal, manufacturing, banking and utilities, and others – RPA is being used to create virtual workforces to automate burdensome, high volume, and time-consuming business processes.
What are the Benefits of RPA
Robots work 24/7/365 without breaks and at digital speeds. Business users can offload high-volume, manual tasks to robots enabling them to focus on customers or tasks which require more creative thinking.
Robots complete a process the same way every time, eliminating human error while ensuring compliance, for improved customer satisfaction.
RPA operations can be scaled up quickly and easily. Users can add, change or expand automation processes as needed without incurring any downtime.
RPA saves costs by reducing valuable time spent by employees on mundane, repetitive tasks, and decreasing workforce and training costs. Savings are estimated to be between 3-10 times the cost of RPA implementation.
Back office workers spend up to 80% of their time on repetitive manual tasks, lowering performance and motivation.
RPA tools are up to 65% less expensive than offshore-based fulltime employees.
92% of business leaders want to increase the speed of innovation and improve employee empowerment and engagement.
Investments in RPA may yield savings up to 600-800% on certain tasks
45% of activities individuals are paid to perform - including activities by the highest-paid jobs in the economy such as financial managers, physicians and senior executives – can be automated using current technologies.
Types of Robotic Process Automation
Software robots execute business processes on a virtual machine or in a back-office server. The robots are triggered automatically, work 24/7 without interruption and do not require human intervention. Typically, the processes executed are repetitive, high-volume, logic-based tasks involving the entry or transfer of data across systems. Unattended robots execute processes on applications even if the application is not running, and they respond to changes in processes immediately.
Attended robots are installed on employee desktops assisting users to complete businesses processes more efficiently and accurately. Attended Automation is often deployed in a front office environment where robots complete portions of a process or guide users through a complex process. When robots automate steps of a process, employees enjoy increased productivity and process accuracy while focusing on human interaction and other business critical tasks.
A complete solution for business process automation requires collaboration between humans and robots. Our unique Hybrid Automation combines both unattended and attended automation into a single solution enabling interaction between your human and virtual workforces. Humans can initiate processes then pass certain tasks to robots with full visibility into the status of the task, while robots can pass tasks back to humans when certain input is needed. The result is an end-to-end solution that maximizes process efficiency.