Robotic Process Automation (RPA)

The worldwide market for Robotic Process Automation (RPA) services will reach $7.7 billion next year and will grow to $12 billion in 2023, “propelled by a need to establish governance and operating models around RPA platforms,” says Forrester.

Organizations today are increasingly adopting new age technologies such as IoT, cognitive computing and task-level Robotic Process Automation (RPA) to overcome challenges faced such as reducing Total Cost of Ownership (TCO), increasing workforce efficiency, minimizing human error and so on. RPA can automate repetitive tasks that previously required human effort.

Where can RPA be applied?

RPA can be applied for the automation of rule-based, redundant and repetitive tasks where structured data and clear predefined rules and parameters are used. The solutions are cost-effective, and can be designed, implemented and tested quickly and easily.

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    RPA Checklist

    1. Identify a process which is rule based and not dependent on human judgement. 2. Build a simple flow diagram of the task starting from the data coming from a system to an application 3. The process should be functioning and initiated by a digital trigger 4. The bigger the volume of data for executions of the process, the better suited is the process for RPA

    Why Automate Repetitive Tasks?

    Automating mundane tasks saves time and money. However, the benefits are not limited to saving time or money. Automation also improves reliability and remove human error from the equation.

    Benefits of RPA

    Traditionally, the IT industry has been thriving on the arbitrage model. Offshore outsourcing of IT requirements has been the preferred business strategy of most for ensuring reduced operational cost. RPA has proven to optimize operational costs by 50%.

    Analytical Capabilities

    Whenever a process is executed through RPA, a process log is generated. This log contains wealth of operational Information which can be further analyzed to derive insights and accelerate decision-making. It will also enable businesses to improve processes and optimize their operations.

    Regulatory Adherence

    Regulatory compliance is a crucial aspect for companies that are going global. A fully RPA-enabled process would empower organizations to keep track of every operational aspect and also ensure thorough documentation. This would result in organizations being better compliant with industry and regional regulations.

    Better Efficiency

    With RPA, a business can have automated processes functioning 24x7x365. Along with high availability, it also ensures a lesser TAT, zero errors and 100% efficiency. Certainly, a dream employee that every business wants.

    Employee Productivity

    With repetitive and mundane tasks been taken care of, organizations can leverage their employees for more complicated and intelligent tasks. Employees can intervene in scenarios of escalations, customer interactions and also when human analytical expertise is required. This also lets employees take up more analytical roles and facilitate better decision-making.

    Customer Delight

    With RPA working round the clock, it would result in delighted customers who would receive instant response/information and that too at their convenient time. RPA would take customer experience to a whole new level with error-free processing and also provide more time to employees for customer interactions and relationship building.

    Where can RPA be applied?

    Common business processes and activities such as:

    Sales

    Quote Generation, Invoice Creation and Distribution etc.

    Customer Relationship Management

    Registering new accounts and contacts, querying information from CRM, help desk and case management

    Support Function Activities

    Tech support, HR and mundane tasks in day-to-day operations

    RPA across Industries

    RPA finds applicability across industries and business functions. Its core capability of eliminating human intervention and speeding-up a process with 100% accuracy makes it an apt solution for most industries.
    bank

    Banks

    •  Account details retrieval
    •  Product & Services     Information
    •  Requests & Services

    travel

    Travel

    •  Tour Enquiries
    •  Ticket Booking
    •  Fetching Passengers Details

    computer (1)

    Finance

    •  Intake of Vendor Invoices
    •  Auto-assign Invoices

    policy

    Insurance

    •  Premium and Policy     Information
    •  Claim Processing
    •  Policy Clearance

    delivery-truck

    Logistics

    •  Order Tracking & Status
    •  Payment Status
    •  Inventory Updates

    Latest Trends in RPA

    Hyperautomation

    The year 2020 marks the beginning of the era of something new, which takes automation to another level, infusing more intelligence to automation – Gartner calls it Hyperautomation

    Hyperautomation permits organizations to automate more complex work. Where automation can be the simple optimization of task processes (where you set up a bot to perform a series of tasks) hyperautomation has an extra layer of robotic ‘intelligence’ that makes the processes even smarter.

     

    Cognitive Automation

    Cognitive automation, unlike other types of artificial intelligence, is designed to imitate the way humans think. Cognitive automation mimics human behavior, which is in many ways more complex than the actions and tasks mimicked by RPA processes. 

     

    Why Clover Infotech as an RPA service provider?

    • Clover Infotech has extensive experience across application services and infrastructure management
    • Clover Infotech is a preferred managed services partner for reputed organizations and ensures that the processes run seamlessly
    • The company comes with a deep understanding of creation, implementation, and support with respect to critical processes and underlying infrastructure
    • The Clover Infotech team comprises experts who have worked across multiple RPA tools and frameworks for customers across industry verticals
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