Do you take advantage of Robotic Process Automation (RPA) in your work? If not, the time has come to take your business to a new level. With the appearance of Artificial Intelligence (AI), many processes got a new life. What used to take hours now requires minutes. Meanwhile, the accuracy has increased trifold.
Robotic Process Automation takes over numerous manual tasks to bring better efficiency and higher profits for your business. If you are still wondering if RPA is worth considering, below benefits are bound to help you make the right decision.
» What is Robotic Process Automation?
Before we go any further, let’s talk about what RPA is. RPA is a program, which can be added to the existing software system without changing its interface. The program mimics a wide variety of human actions, from clicking links to filling out forms.
RPA allows employees to focus on complex tasks while it takes care of the manual data entering, calculations, creating folders, moving files, connecting to system APIs, and much more.
The best part about RPA is the lack of intrusion into your system, which leads to a low learning curve and fast implementation speed. You can always remove the RPA solution from your interface without making any major changes.
» Now, let’s look at the benefits RPA can have for your business.
1. Cutting Costs
The most important benefit of integrating RPA is cost saving. The reasons for saving money are numerous. RPA allows your employees to take care of other tasks, rather than spend time typing in data manually. As a result, the work is completed faster, thus helping you serve more clients and acquire a bigger profit.
Meanwhile, you can reduce the number of employees and save money on salary. With RPA, you eliminate the human factor, thus saving money on rectifying mistakes.
The software can work around the clock at a much lower rate than human employees. Accordingly, you get a bigger output at a lower price.
2. Improving Quality
No matter how experienced and trustworthy your employees are, they are human. Humans make mistakes. Sometimes these mistakes lead to wasted time. Sometimes, they can cost you a formidable amount of money.
When you multiply the possibility of human error by the number of employees working for you, the numbers could be shocking. And so could the price you pay for rectifying these mistakes.
Human error could lead to losing clients and botching the company’s reputation. RPA eliminates human error, thus improving the quality of your products and services.
It’s worth noting that RPA programs can also make certain mistakes. However, their number is incomparable to the number of human errors.
3. Saving Time
Time is money. So when you save time, you cut costs. How long does it take your employees to fill out a form? Such routine tasks as form filling hinder the efficiency of companies working in banking, healthcare, and insurance industries.
These businesses tend to lose clients, who aren’t willing to wait for manual work to be completed. A program can fill out a form in mere seconds, thus saving a company a formidable amount of time.
A simple form could take a human five minutes to complete while an RPA program can do it in two seconds. When you think about how many hours are wasted by your employees performing manual tasks, you can understand the benefits of RPA immediately.
4. Boosting Customer Satisfaction
Did you know that only about 30% of any company’s clients are fully satisfied? One of the reasons why the number is so low is the speed of services. In the fast-paced world of today, people want to get things done fast, especially when they are paying for them.
Lengthy form filling and data processing can make clients frustrated and open to pitches from the competition. RPA allows you to offer your services faster, reduce the waiting time, and boost customer satisfaction while keeping the chances of error to the minimum.
5. Improving Reputation
The number of human errors is rather considerable in large companies that process large volumes of data. While each error can lead to substantial costs, it could also damage the company’s reputation.
Sending parcels to wrong addresses, mistyping last names in insurance claims, emailing offers to the wrong clients, etc. could botch the company’s reputation.
RPA reduces the number of human errors to zero. As a result, the company owner has fewer problems to worry about when trying to maintain an excellent reputation.
The speed of data processing also affects the company’s reputation. With word-of-the-mouth marketing still being one of the strongest approaches to brand awareness, the reputation of a fast-service company can bring you considerable profits.
6. Reducing Learning Time
Experts from software development company in Kansas City share that one of the most important advantages of RPA is the lack of learning curve. Your employees don’t need to have any special technical skills to take advantage of manual work automation.
The program frees up your IT department to deal with other tasks without having to deal with lengthy implementation and employee training. There is no coding or scriptwriting involved. You simply install the program and it starts working within seconds.
If for some reason, you need to stop using RPA programs, you can remove them in several easy steps without changing the overall system interface and distracting your IT team.
7. No Extra Outsourcing
Companies, which are often overwhelmed with manual tasks, have to outsource their work to other parties. Outsourcing could be an excellent solution for some projects. However, in many cases, business owners suffer from a lack of control.
Outsourcing the manual work to a program allows you to maintain control over all tasks without spending extra money on remote specialists.
The more manual tasks your company has to deal with, the more money and time you save by employing RPA rather than outsourcing the process. All the work remains in-house while its speed increases substantially.
8. Enjoying Better Analysis
Analyzing your data is the key to improving your company’s work, eliminating mistakes and boosting profits. RPA allows you to collect, organize, store, track, and analyze the data, which your company deals with on a regular basis.
The ability to have access to organized data helps with analytics, allows you to improve the current operations, solve issues timely, and make accurate forecasts.
RPA offers a wide variety of tools to deal with data and sort it according to your needs. To take advantage of these features, you don’t have to have any special technical skills.
The lack of human error makes the quality of the data you work with much higher. Accordingly, the results of analytics are better as well.
9. Reducing Risks
The majority of system upgrades and new program implementations come with a certain risk. Since RPA is a non-invasive solution, you don’t have to worry about security threats to your systems.
Meanwhile, the cost of RPA programs is often lower than what you usually pay for software upgrades or replacement. As a result, you reduce the risks of exceeding your budget.
10. Improving Employee Satisfaction
Not too many people enjoy entering the same data into different forms over and over again. Usually, they have other tasks they need to complete. IT specialists, HR experts, and other workers view manual data entering as a nuance.
With RPA, you can improve overall employee satisfaction by allowing them to work on urgent tasks. The program can reduce the frustrating workload, thus helping employees achieve better results with other projects.
According to Career Builder, more than 60% of employees feel burned out on their jobs. Routine manual tasks increase this number, making workers unhappier.
11. Increasing Focus
When it comes to certain areas of work, the focus precision dedicates the outcome. Routine tasks reduce focus and overwhelm employees, thus reducing the overall work process efficiency.
RPA can help employees stay focused on tasks at hand without looking back at the frustrating data entry or form review.
12. Reducing the Chances of Fraud
Many companies have to work with sensitive data. When humans process this data manually, the chances of fraud increase.
When you take advantage of the RPA, you don’t have to worry about numerous employees coming into contact with sensitive data. Accordingly, the data is less prone to loss and fraud.
In case some issues regarding fraud or loss arise, with RPA you can review the data entry process and allow a detailed audit.