Robotic Process Automation

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 What is a Robotic Process Automation?

Robotic Process Automation (RPA) is the use of software with artificial intelligence (AI) and machine learning (MI) capabilities to handle high-volume , repeatable tasks that previously required humans to perform. These tasks can include queries, calculations and maintenance of records and transactions.
RPA technology, sometimes called a software robot or bot, mimics a human worker, logging into applications, entering data, calculating and completing tasks and logging out. RPA software is not part of an organization's IT infrastructure. instead, it site on top of it, enabling a company to implement the technology quickly and efficiently--all without changing the existing infrastructure and system. 

                                                 


Robotic Process Automation Implementation
  • Cognitive automation using AI/ML
  • Bot development
  • Workflow orchestration and governance
  • Roll out validation and planning
  • Business continuity and scaling



Application of RPA


Some of the top application of RPA include:
  • Customer service:- RPA can help companies offer better customer service by automating contact center tasks, including verifying e-signature, uploading scanned documents and verifying information for automatic approvals or rejections.

  • Accounting:- Organization can use RPA for general accounting , operational accounting, transaction reporting and budgeting.

  • Financial services:- Companies in the financial services industry can use RPA for foreign exchange payments, automating account openings and closings, managing audit requests and processing insurance claims.

  • Health care:- Medical organizations can use RPA for handling patient records, claims, customer support, accounting management , billing, reporting and analytics.

  • Human resources:- RPA can automate HR tasks, including on boarding and off boarding, updating employee information and time sheet submission processes. 

  • Supply chain management:- RPA can be used for procurement, automating order processing and payments, monitoring inventory levels and tracking shipments.

                                                 


 Evolution of RPA
  • Although the term "robotics process automation" can be traced to the early 2000s, it had been developing for a number of years previously.

  • RPA evolved from three key technologies: screen scraping , Workflow automation and artificial intelligence.

  • Screen scraping is the process of collecting screen display data from a legacy application so that the data can be displayed by a more modern user interface.

  • The advantage of workflow automation software which eliminates the need for manual data entry and increases order fulfillment rates , include increased speed , efficiency and accuracy.

  • Lastly , artificial intelligence involves the ability of computer system to perform task that normally require human intervention and intelligence.
                                                     



Benefits of RPA

Robotic Process Automation technology can help organization on their digital transformation journeys by:
  1. Enabling better customer service.
  2. Ensuring business operations and processes comply with regulations and standards.
  3. Allowing processes to be completed much more rapidly.
  4. Providing improved efficiency by digitizing and auditing process data.
  5. Creating cost savings for manual and repetitive tasks.
  6. Enabling employees to be more productive.
                                                    



Conclusion

Robotic Process Automation is not only automation solution for HR. However, this list of use cases makes it clear that it represents a feasible approach for expanding businesses. In order to become more competitive, companies will have to adapt to a growing number of employees , and to a growing amount of data and paperwork. RPA deployment promises a more efficient data management, and consequently it streamlines rule-based HR processes. it also has good premises for improving employees satisfaction with their work.  




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Blog contributed by: Priya Agarwal
 
                                                                              
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