Imagine a situation where a person keeps doing the same work the entire day.
The same typing, the same thinking, the same challenges and the same steps in the same volume.
Do you believe that this boring, taxing job that's not only hard to perform daily but also has high chances of error and missing deadlines?
These scenarios are not new in our corporate world. It is, in fact, a tradition that is long-running.
But here is the interesting part! We have something in the market today that can help us get rid of these problems easily and with minimal cost. Lesser even then what it takes to make these manual tasks happen! This technology is not new nor experimental. Many renowned companies are using this technology extensively and getting excellent outputs in return. Are you going to be the next?
Robotic Process Automation is a technology which many of you might have already heard about. This technology came into the picture about a decade ago. It's not correct to say that there was no automation before RPA, but the thing that makes RPA different from other methods of automation is its scope and reliability. RPA is a revolution in the IT industry for all repeated and manual tasks.
An organisation having a well-defined RPA practice can process more volumes than they were before. If a human can process one transaction in about 10 minutes a software robot will take not more than 2-4 minutes (based on the scenario) to process that particular transaction without giving you a single point of error!
Let us consider the following scenario. A banking organisation at the end of the financial year or at a peak time where they are getting more invoices than a normal day might have to pay their employees overtime while the employees work under pressure leading to oversight and errors. This task could easily be dealt with using RPA. All that has to be done is to increase the frequency of the bot execution. A bot can even run 24/7 and complete all the transactions even at a peak time.
Some other benefits of RPA are:
1. Reduction in cost:
Instead of 10 people performing a job daily, with the help of a robot this task can be done by 2 people so an organisation can save the cost of 8 Full-time Equivalent (FTE’s).
2. Improvement in quality:
If a process is being performed by a person, there are chances of error which can decrease the quality of the overall process and outcome. On the contrary, with the help of a robot, the task will always be performed as designed negating any chance of error.
3. Increased Security:
Amongst the most important benefit of using RPA is an increase in security. If a person is manually processing a transaction, there are chances of data theft and data manipulation. But if a robot is performing a task it does not allow any single person to act manually on that process, eliminating any chance of error.
RPA automates the manual activity which a person might conduct while processing any transaction. But there are few limitations as well in RPA. During any process, there are situations where human intelligence is required. In these situations, a robot cannot perform the task. But it doesn’t mean that robots cannot automate that particular process. In designing robotic processes, there are two scenarios - "Happy path" and "Exception path."
If the case is such that all the steps are rule-based and as per the procedure, and the robot is performing an end to end process, we call it a Happy Path. Alternatively, if there is a case that is rule-based but it requires some human intelligence at specific points in the process, the bot will automatically send these cases out for manual handling. Hence, automation need not be 100%. Automation is heavily dependant on the scenario and process that is in question but the aim always is to automate as much as we can.
To put it simply;
“There’s a lot of automation that can happen that isn’t a replacement of humans but of mind-numbing behavior.”
- Anuj Sinha, Technical Specialist at WarpDrive Tech Works
Psst, For more insights like this, Anuj is hosting a webinar on 12th November, 2019 about Robotic Process Automation and how it can work for your business!
Register here and join us!