Did you know that nearly 50% of the tasks performed by employees are considered mundane, administrative and labor-intensive? Yes, it is according to a report by Deloitte.
So, how about a world with “machines” as colleagues to share the burden? No, it is not about a physical robot writing mails or typing documents, but RPA or otherwise called robotic process automation. RPA is the use of specialized software robots, programmed to perform manual, monotonous tasks typically done by humans. In short, RPA bots automate repetitive tasks so that employees are freed to focus on other value-adding or creative tasks.
Another survey, by Deloitte, of over 100 Shared Service leaders, revealed that 74% of the respondents plan to investigate the technology. It further added that 22% of them have already piloted or fully implemented.
Companies can reap the benefits of RPA to automate business processes in the most cost-effective and innovative way.
In this article, let’s dive deeper on the best ways of how a business can benefit from RPA solution.
RPA Customer Experience
Customer service is at the heart of every business. Customers are looking for instant responses and smart solutions.
Imagine when a customer connects with a call centre agent, in a traditional system, the representative first understands the concerns, identifies the profile from the CRM, pulls out info from multiple systems, checks out if there are past interactions and corresponding notes, and then offers a solution. The result? Unhappy customer, delayed response, loss of brand reputation.
RPA offers an intuitive approach to data integration and workflow. Your representatives don’t have to juggle between multiple applications. RPA automates every step of validating the data from the customer’s profile and integrates it as necessary.
Customer service contains several rule-based processes that could be streamlined, automated. For instance, RPA bots can categorize the queries and send them to the right department, like technical support or sales without having a representative to make a call transfer.
One of the major bottlenecks of finance departments is invoice processing. It’s never been easier. With numerous time-consuming, repetitive tasks, an oops here or a slip up there might result in a huge blow.
The challenges lie in excessive email and paper-based work, too many disparate systems, different invoice formats like PDFs, image files, paper copies, MS Word Docs, etc. Financial analysts may have to manually analyse and consolidate the data, and transfer them into a single, centralized financial database that the company uses.
In RPA it is simple. RPA bots release the burden of your finance teams by automatically processing the invoices received in both paper and electronic formats. It uses optical character recognition technology to read information from different sources and automatically enter the data into the system.
In an automated environment, upon receipt of an invoice, the RPA bot extracts details like ordered items, bank account no.; verifies the invoice against purchase order number; checks for any duplicate entries; decides whether it requires any human intervention. RPA automates the entire process, from receipt-to payment in just a couple of minutes. Automation thus reduces chances of errors and increases cost-savings.
RPA HR and Payroll
A report by Ernst & Young concludes that 93% of an HR employee’s work hours are spent on repetitive tasks of which 65% could be easily automated saving costs and employees’ valuable time. It further reveals that RPA can unlock up to 35% in potential savings.
True to the report, from hire-to-retire, the responsibilities of HR spanning, screening of candidates, onboarding, induction & training, managing employee records, processing payroll, and a plethora of other laborious tasks. In addition, during the end of every month, payroll executives may run from pillar to post coordinating with the finance team to process salaries, bonuses, tax deductions, etc.
How can RPA be of help here? For example, consider an employee onboarding process which involves – setting up a new user account, creating an IT request for workstation, access rights to important applications and more.
By implementing RPA, you can automate the entire onboarding workflow by assigning business rules for specific user profiles. Based on these rules the bots take the decision. For example, granting rights to the appropriate application, sending out the necessary documents, forms, manuals, and other info.
Similarly, in payroll processing, RPA reduces processing time, increases accuracy, auto-generates payslips, validates employee data in the payroll system against the data in ERP system, automatically produces and tracks invoice reconciliation such as reimbursements, rewards, etc.
Sales & Marketing
Like any other department, Sales & Marketing teams too spend a significant amount of time on tedious tasks like gathering customers’ data, identifying lead opportunities, nurturing the leads, and much more.
Some of the notable use cases of RPA in Marketing include:
- Effective data management:
Manually collating data from a multitude of external and internal sources such as websites, purchase orders, refunds, cancellations, updated database, from other incoming correspondence, etc., is a Herculean task. These data then need to be classified and analysed for creating reports which can lead to errors
- Social media monitoring:
Social media is one of the most powerful and effective mediums used by marketers. RPA helps companies stay on top of their social media counterparts. Instead of spending on resources, by deploying an RPA solution, it is possible to identify the posts that garner the most number of likes and engagement; to automate instant responses to feedback or complaints that customers raise on social media; to analyze the company’s mentions. Through these insights team members can analyze the performance and make modifications to profile and posts, if needed.
- Transitioning from legacy systems
There couldn’t be any better solution than RPA for facilitating a smooth migration from legacy systems. Without any manual effort and risk for errors, RPA can feed the data from an older system, say a CRM, into the new system in minimum time.
Analytics and Insights
Data is the most precious asset for a business and the amount of data generated from various sources is astronomical. Analyzing these data manually to identify trends, unlock opportunities, and make decisions are painstakingly difficult and prone to human error. This is where RPA steps in. Without just being a tool for automation, RPA can effectively sift through huge amounts of data for business leaders to generate accurate and precise reports, extract measurable insights, and optimize the data for forecasting user behavior.
Further, organizations can leverage these data for various kinds of data analysis approaches like machine learning, process mining and process simulation.
To conclude, RPA is set to witness exponential growth in the coming years. Now it’s the time for the organizations to start implementing it. Connect with Vuram experts for helping you embark on the automation journey. Write to email@example.com for more information.