Robotic Process Automation (RPA) plays a significant role in the recovery after a pandemic.
Understanding the areas of impact will help business leaders prioritize their decisions and maximize their potential for success.
Let us see the five areas of impact of RPA and see how they can help accelerate the path towards real business value.
1. Less employees
Automation of time-consuming tasks is a proven method to cut costs and provide employer-based savings. RPA can help employees reskill and upskill to take on more valuable work as we recover from the COVID-19 pandemic.
The old belief that robots would replace humans is a common misconception. On the contrary, automation can save jobs and create new ones, especially when it makes a difference in helping businesses reopen.
2. Scaled capabilities
This is where the power of automation can be used to expand access to a specific capability and deliver new benefits across the company.
Let’s take, for instance, automation used to help a financial service provider deal with a surge in mortgage hold requests. By making automation available to all employees, allowed them to improve customer service and streamline processes.
3. Higher speed
Automating tedious tasks can speed up work and increase productivity. Automation is now a competitive advantage of every user company. It offers the opportunity to increase efficiency, decrease costs and improve the overall performance.
4. Higher quality
Automation can help companies achieve higher quality results that couldn’t be achieved without it.
This is particularly true for accounting, accounts payables, finance, payroll, and other departments. Software robots can run account reconciliations, generate, and validate invoices. They can also flag timesheet errors or omissions. When organizations implement RPA, accuracy increases, considerably reducing the mistakes. This allows the entire company to concentrate on more valuable tasks.
5. The development of new capabilities
Developing new capabilities can bring substantial benefits to an organization. Automation can create innovative algorithms, new processes, and operations that no employee is currently working on.
This is crucial for the COVID-19 crisis. For example, a major retailer can open its stores and franchises quicker than expected by creating automation that could manage daily health screenings, wellness tracking, assurance for employees, and more. This not only saved jobs but also helped the retailer build relationships with customers and provide new experiences that would drive long-term loyalty.
We all face the same problem: How to safely reopen and get business operations back on track? Automation is an effective way to achieve these goals. The five key areas that automation impacts can give business leaders additional insights and tools to help them develop digital strategies and solutions that work for them.