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Robotic Process Automation
What is Robotic Process Automation?
Robotic Process Automation (in short, RPA) is the digital technology that uses software robots (or “bots”) to automate daily business tasks. With this technology, organizations can easily create and deploy bots that can perform routine and repetitive tasks (previously performed by humans).
How does RPA enable bots to perform human tasks? By allowing them to observe and learn from human actions. RPA bots can perform tasks quickly and efficiently – around the clock (without having to take “coffee breaks”).
What can RPA do for me?
Robotic Process Automation or RPA-powered bots can interact with any existing system or applications (just like a human resource with digital skills). Here are a few things that RPA software bots can do:
- Copy-paste or transfer files and documents.
- Open and send business emails.
- Extract and organize unstructured data from the web.
- Perform tax or accounting calculations.
- Confirm customer information.
- Sign into web applications or programs.
- Connect to third-party applications through APIs.
Enhance process insight
What’s more? RPA is easy to configure and use for any business process. You can customize and schedule RPA to execute business processes across the organization. RPA bots can also adapt to existing workflows; thus, you don’t need to modify the existing systems, applications, or processes for a successful RPA implementation.
What are the business benefits of RPA?
Robotic Process Automation or RPA can benefit organizations in many ways including the following:
- Enables end-to-end business process automation across the organization.
- Accelerates the pace and speed of digital transformation.
- Reduces business costs by optimizing critical processes and business metrics.
- Reduces the costs of human errors or manual processes through business automation.
- Improves compliance with industry regulations.
- Boosts employee productivity by enabling them to perform high-value work.
- Improves the employee experience and engagement by automating manual tasks.
- Improves business agility and flexibility by enabling organizations to scale quickly to demand spikes.
Who is using RPA?
Here is how Robotic Process Automation is being used across industry domains:
RPA for Insurance
- New business & underwriting
- Automatic claims processing
- Regulatory compliance
- Business & process analytics
RPA for Finance
- Foreign exchange payments
- Automating account openings
- Invoice processing
- Account reconciliation
RPA for Banking
- Customer onboarding
- Anti-money laundering
- Loan application processing
- Credit card processing
RPA for Healthcare
- Patient records management
- Insurance claims processing
- Appointment scheduling
- Patient discharge processing
RPA for Telecommunications
- Customer onboarding
- First call resolution
- Invoice and purchase order processing
- Network management
Frequently Asked Questions About RPA
What are examples of Robotic Process Automation?
Here are some real-life examples of RPA technology:
- RPA process mining and website scraping
- Automating call center operations
- Meeting compliance requirements
Is Robotic Process Automation an AI?
RPA is different from AI although both can “mimic” human abilities. While AI is the “brain” behind task automation, RPA is the “hand” that performs the tasks.
What are the three types of RPA?
There are three types of RPA namely:
- Attended automation bots are invoked by the user.
- Unattended automation bots execute batch processes or tasks in the background.
- Hybrid RPA combines both attended and unattended RPA to provide automation.
Where is RPA used?
The Robotic Process Automation platform is being in a variety of applications including customer servicing, financial accounting, sales & marketing, and human resource management.
What is the difference between RPA and automation?
Robotic Process Automation focuses on automating manual or repetitive tasks performed by humans. Automation includes intelligent automation that leverages AI and machine learning technologies.
What are two types of RPA bots?
The two types of RPA bots include:
- Attended bots or virtual assistants are used to automate front-office tasks.
- Unattended bots are used to complete back-office tasks without any human involvement.