Software development for Startup

Robotic Process Automation

Does my business need RPA?

Author : Komal Bajaj
January 18, 2021

Does my business need RPA?

Do you want to reduce costs?
Do you want to save business time for critical business tasks?
Are routine repetitive tasks resulting in human errors?
Is compliance affecting your productivity?

If the answers to all the above questions is a resounding YES, then yes your business needs RPA. Let’s understand what RPA is.

Top use cases of automation in insurance

What is RPA?

Robotic Process Automation is a crucial tool for those businesses which are seeking to scale. If you are looking to get the job done at the right time always, assuring the accuracy of repetitive tasks, then RPA is the thing for you. The capabilities of RPA benefit every department in a business no matter what the industry is. Bots add to your existing workforce because it takes away inefficiency and saves up time for core tasks because it automates rule-based business processes.

RPA makes use of software bots which is a great alternative to human intervention. It is of great use especially when there is a need to transfer data from a legacy system to another modernized version. It runs on any device apart from a laptop and seconds as a human interface.

RPA is that approach that also lets employees shape their workflows and there are organizations that help you with it. So in short, it helps,

  • Improving the accuracy
  • Connect discordant applications
  • Improve overall work satisfaction
  • Scalability grow

Interesting research

  • RPA is growing steadily as Forrester predicts it will grow from $250 million in 2016 to $2.9 billion in 2021
  • Grand View Research looks at a growth figure of $3.11 billion in 2025.
  • As per Deloitte’s third annual RPA survey, 53% of the respondents are starting their RPA journey. Amongst the respondents who are implementing is 78% of them plan to invest more in it for the next three years.

How RPA should not be used

  1. While it is important for businesses RPA should not be used for processes that haven’t been standardized or optimized meaning bots and humans should be able to resolve inconsistencies created through inefficient processes.
  2. It will be a mistake to consider RP as a technology-only solution. Organization leaders should take note that all ‘stacked solutions’ use other tools such as workflow and API in sync with RPA. Hence it is better to work with a partner who knows the realities and limitations of RPA.
  3. Another mistake that should be avoided is when they do not consider end-to-end processes. Often it is seen that RPA is used to address data errors or inconsistencies which are cheaper to remedy.

Difference between Robotics and automation

Whenever we talk about software automation we intermingle robotics and automation when in reality they are different. Robotic Process Automation (RPA) is a technology that allows software robots to use any application’s UI to conduct human actions without any need for human intervention or system modification. RPA is often an approach that is used for automating rule-based tasks that use structured digital data.

Intelligent automation automates the business process that uses RPA. It automates complex business processes that are not rule-based but more judgment-based with the use of both unstructured and non-digital data sources. Software automation is using the software to perform different tasks with the help of software, physical machines, and other technologies.

How is RPA different from AI?

AI(Artificial Intelligence) tries to mimic humans in solving a problem RPA uses a set of rules and algos to automate the task and give it structure
It focuses on doing human-level tasks RPA reduces human efforts
AI is a dynamic solution and capable of changing with time RPA is more static in nature
AI has the intelligence to decipher the messages and act on its own RPA denotes the execution of processes that are repeatable
AI’s own component ML has intellectual power which can replace humans to make decisions that require thinking For those applications wherein no human judgment or intervention is required RPA is a great fit

 

Operational Analytics in automation

In automation, Operational analytics represents a set of tools and techniques that come in handy for the discovery, interpretation of crucial patterns in data. This throws light on the performance and health of automated business processes. Such discovered patterns of data can be used to make decisions about what changes are in demand and how improvements can be made in the existing automated solutions. Using operational analytics with automation allows businesses to identify roadblocks and correct them instantly.

How does RPA in Business help?

RPA has indeed taken a huge leap right from when it started. Businesses are now able to involve more of their workforce on important tasks because mundane tasks get automated. RPA in businesses have several benefits that include:

  • Optimized use of resources
  • More adaptability and flexibility to the process
  • Better communication and reduced costs
  • It helps in gaining valuable insights and analytics with error-free operations humans are capable of
  • RPA can be integrated with multiple applications to enhance the security of enterprise data
  • Improved customer service and compliance

Going a step ahead – RPA 2.0

AI is at a place where algos can think and improvise existing processes. In this way, computer programs need not have to just follow the rules and repeat the same tasks again. Robots are also smart enough to make decisions for humans but they lack the program tools to perform tasks. Maciej Karpicz, CTO at DLabs.AI says,

“RPA focuses on recreating simple, repetitive activities that humans typically perform. Still, in the final stages, a human will make the last decision because it will often require expert knowledge, which robots don’t have.”

He further says that RPA 2.0 replaces the human decision-making human with ML that leaves the robots to make the final decision. Humans can verify it also when it is needed. It allows businesses to achieve business continuity. With any crisis situation in play especially situations such as COVID-19, automated machines can work continuously and can still handle system and process changes.

The right RPA implementation partner should be in a position to advise on the scalability of RPA for your business. It will help you if they extract insights from process data to help predict and suggest the next move for your organization.

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