Several reports point out that RPA, a nascent technology till 2016, is now looking at investments of over $3 billion by 2021. Also, according to a Forrester report, the number of software bots at the workplace will grow to more than 4 million by 2021.
Robotic Process Automation refers to the use of software bots to carry out complicated tasks to be done by humans. RPA solutions are preferred mostly for three things:
Efficiency – Higher productivity in less time
Accuracy – 100% error-free outcomes
Speed – Faster execution of complex tasks
How Does RPA Act As A Game Changer For Modern Businesses?
Let’s have a look at how RPA acted as a game-changer in the following industries:
Healthcare – RPA is being used here to automate manual tasks such as data entry of patients’ details, sending responses to patients’ requests, and much more. It is also being used to improve the care cycle and enhance data confidentiality.
Insurance - RPA software is employed to easily gather data from different sources, stick to the compliance standards, blend new technologies with existing systems, automate manual data entry processes, and much more.
Retail – RPA helps the retail industry automate sales analytics, analyze store organization to fit customers’ expectations, improve product categorizations, empower ERP management, and much more.
How Can You Get Started With Your RPA Plans?
Successfully implementing RPA is a completed process, and improper planning could lead to expensive failure. Here is a step to step guide to lead the way:
Step 1 – Identify the right process to automate
Get a deep insight into every function and process of your organization. Analyze, interpret, and identify the areas which could benefit more from automation. Make an informed decision by studying elements like cost savings, accuracy, manual efforts, and so on.
Step 2 – Hre the right RPA vendor
Do thorough research on vendors who are specialized in providing end-to-end RPA services. Select the one that suits your business needs and then work closely with the team to define the work scope and develop a detailed implementation plan.
Step 3 – Develop slowly but effectively
Start small; experiment, learn, and unlearn till you get what you were looking for.
Step 4 – Test it in the real environment
After extracting all the actionable insights from the pilot phase, it is time to test your RPA solution in the real completive world. Release it to limited markets to start with, learn from the feedback and responses you receive, meet the gaps, and eventually expand the reach of your solution across all markets.
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