Why Companies Should Implement Robotic Process Automation
Robotic Process Automation (RPaa) is fast becoming one of the hottest propositions to promise quantum increases to GBS organizations and the wider enterprise, in terms of both cost savings and increased productivity. It is true that Robotic Process Automation has played a crucial role in the development of various breakthrough technologies, including artificial intelligence, digital signal processing, information systems, manufacturing automation and much more. But in the past few years, Robotic Process Automation has assumed a new significance as it evolved to address the challenges of handling the ever-increasing stream of data flowing through the enterprise. In particular, with the proliferation of large enterprise RPAaaS – or software as a service – there has been an increased focus on the integration of these systems with enterprise-level data management tools such as ERP/SOA systems, and their eventual use as a general platform across multiple applications.
Robotic Process Automation is one way to achieve this goal. Robotic Process Automation or RPA, starts with the development of artificial intelligence that enables machines or other devices to perform specific tasks, even if they are not trained for that purpose. The basic idea behind this technology is to leverage the benefits of current computing technologies, such as artificial intelligence, digital signal processing, and other digital technologies to provide a robust solution for tasks that may not necessarily require human intervention. However, this type of technology has often been associated with tasks that involve the use of computers, such as financial processing and customer service, rather than with activities that are performed by people, such as human medical transcription.
Robotic Process Automation is typically implemented in processes that involve multiple users and sophisticated technologies. In fact, the largest Robotic Process Automation implementations are often used in health care facilities, finance-related institutions, and consumer focused industries. These implementations can also be used for other purposes, but these are the most common today. One of the primary benefits of utilizing robotic process automation is that it helps businesses focus on their core competencies rather than on completing peripheral tasks that require minimal input from the human team members.
There are two types of Robotic Process Automation: real-time and batch. Real-time means that the computer algorithm will actually execute the programmed task during the actual time when the customer or the client is still online. Batch processes, on the other hand, are more flexible. Rather than having the computer to perform a certain task every time it is triggered, the system can run through a series of pre-programmed processes that can be executed in parallel with each other in order to save on computer resources. Both types of robots may use different types of scheduling algorithms.
In a recent successful implementation of Robotic Process Automation at Starbucks, robots took over repetitive and boring tasks in the kitchen. Workers were no longer required stacking plastic cups and manually fill them with cream, sugar, and coffee beans, all of which is very tedious as well as unrewarding because there is no real competition for such tasks. Instead, automated machines can now handle such jobs just by simply pushing a button. Likewise, when purchasing items from the coffee shop’s inventory, customers no longer have to visit the store again in order to purchase their favorite drink. This saved a lot of money and time for the owners and employees as well.
Some industries that have seen great results from Robotic Process Automation are financial, manufacturing, healthcare, and service sectors. CIOs around the world can now eliminate redundant tasks and increase efficiency just by investing in such systems. The systems can also improve business processes and overall profitability by reducing payroll expenses, eliminating late fees, and increasing profit margins. Such systems have been known to boost employee productivity and increase retention rates. For businesses who are looking for a way to cut costs and increase profits, they should really consider implementing robotic process automation into their business plans.