These eight things account for some of the primary benefits of robotic process automation.
What is Robotic Process Automation?
Do you often wonder: what is robotic process automation? Scan-Optics explains what RPA is and provides examples of its applications.
Robotic Process Automation has been a trending topic for the last few years, but discussions of it are often inaccessible to most people. Robotic Process Automation itself, however, is not inaccessible. It has the potential to be highly beneficial to many people and businesses, not just a select few. So? What is it?
What Is Robotic Process Automation?
Robotic Process Automation, often referred to simply as RPA, is a software technology that relies on artificial intelligence (AI) to function. Its purpose is to automate business processes that would otherwise be executed by a human worker. RPA employs software robots to imitate human workflows and processes. For example, software robots can assess information to find its meaning and value, determine what action needs to be taken per that information, and then complete the adjudged task to achieve a successful outcome.
What Are Its Benefits?
While software robots are able to do the same work as human employees, even seamlessly navigating from system to system, they can also do a lot of things that humans can’t.
Bots are able to work reliably 24/7 with no risk of human error. Since they don’t require pay or time off, they’re highly cost-effective as compared to traditional human labor. For businesses that have to adhere to strict regulatory compliance standards, Robotic Process Automation can be an incredible investment because bots are able to adhere precisely to compliance codes and regulations.
Bots also promote increased uniformity of work output. With employees, people will have different work styles, schedules, and processes that can lead to slight variations in the work they produce, even when they’re following strict guidelines. Because bots do everything the exact same way every single time, they’re able to operate in uniformity.
What are its Applications?
The applications of Robotic Process Automation are manifold and range from niche to widespread relevance. One of the more commonplace applications of RPA is on financial systems and processes such as accounting. RPA is successful at automating accounts payable, accounts receivable, invoicing, and payroll.
RPA is also great for automating mundane and menial tasks in processes like onboarding, whether that means onboarding a new client, system, or employee. Similarly, RPA can be applied to tasks like inventory management, software installations and updates, and employee record maintenance. And this list is far from exhaustive.
Not only can RPA be applied to innumerable processes, it’s also applicable to a range of industries. Robotic Process Automation isn’t only for technology and finance companies. It can be implemented in government offices, institutions of higher education, research institutes, manufacturing businesses, insurance companies, and so on.
How Can It Work In Conjunction With Other Digitization Solutions?
Robotic Process Automation is only one of the digitization solutions available to companies looking to begin their digital transformation journey. RPA can be an incredible resource during the undertaking of digitization solutions such as document scanning and digital archiving. Additionally, once an organization has digitized all of its data via document scanning, RPA can be used to organize and utilize that data effectively.
If you’re interested in learning more about RPA and seeing if it’s right for your business, contact our team of experts today.