Robotic Process Automation (RPA) has been the talk of the town for quite some time. And for a good reason. Almost 70% of organizations today are adopting automation technologies, and one of the most important among them is RPA.
This is because RPA focuses on automating repetitive tasks and streamlining business processes for better efficiency.
But is it the next big thing in process improvement? Let’s find out.
Below we have listed some vital aspects of how RPA works, its impact on process improvement, and some of its most popular use cases. Let’s dig in.
In simpler words, Robotic Process Automation RPA is a process that involves instructing software robots to execute mundane, data-intensive, or repetitive tasks.
But it’s not that simple.
Here’s how an RPA implementation typically works:
With advancements in AI, Machine Learning, and RPA (Robotic Process Automation), process transformation has never been more accessible. But understanding the nuances is crucial to realize its value.
Here’s an overview of how RPA will impact process improvement:
There are several ways companies can use RPA to improve their bottom line. Let’s explore a few examples:
According to a recent case study published by UiPath, Dutch brewing company ‘Heineken’ launched intelligent automation initiatives that include the infusion of AI and RPA to automate various business processes across departments such as finance, procurement and commerce, IT, sales, and more.
The company started its plan by developing a roadmap and creating interdependent teams to ensure end-to-end automation. In doing so, the company successfully saved 14,000 hours each month. By 2025, the company is set to achieve hyper-automation and save a million hours.
As one of the largest Caterpillar dealers of heavy equipment, Mantrac Group was able to accelerate its labor-intensive manual data entry processes and achieved 85% efficiency. As the influx of new suppliers and dealers increased, the company was able to integrate its financial processes with RPA bots and make the invoicing and data entry process fuss-free.
Since the bots were running 24/7, and almost 50% of multi-brand invoices were processed outside business hours, it helped the company save more than 1000+ employee hours.
RPA has made significant inroads globally, but its future looks even more promising. The industry will grow to $16 Billion by 2025, and many niche industries are adopting RPA solutions to maximize capacities.
Here are some potential developments that could shape the future of RPA:
As customer expectations keep growing, businesses must look for new ways to deliver results. Thankfully, RPA is no longer something that seems futuristic. The technology is accessible to organizations of all sizes and guarantees many tangible benefits. So if you haven’t started your RPA journey yet, it’s time to buckle down.
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