Business enterprises in the modern age have to deal with intense competition, meaning that they require enhanced efficiency to survive in this highly competitive business environment. Therefore, organizations today need to leverage the latest technologies to drive efficiency and enhance productivity. The best way to do that is by adopting Robotic Process Automation (RPA), as it has the potential to automate various business processes and enhance the productivity of an organization.
Many businesses need to spend a lot of time and resources carrying out different time consuming and repetitive tasks. Such as accessing files and data entry. However, businesses that leverage RPA and automate their processes can seamlessly enhance their productivity while saving both time and money in due course.
What is Robotic Process Automation?
Robotic Process Automation, commonly known as RPA, is an application of a highly advanced technology that leverages business logic and structured inputs for automating different business processes. Businesses can leverage RPA technology to configure the software to interpret applications for manipulating data, processing transactions, communicating with different digital platforms, and triggering responses.
RPA can be used for various purposes, be it as simple as responding to an email or as complex as deploying numerous bots where each bot is specifically programmed to carry out specific jobs in an ERP solution. Further, a business can enhance the capabilities of Robotic Process Automation by combining it with advanced technologies such as machine learning, artificial intelligence, speech recognition, and more.
RPA has provided businesses with an opportunity to enhance their business operations and drive seamless growth. Therefore, one must be smart enough to make the most of this opportunity and enhance the business’s productivity. But what is RPA, and what are the processes that we can automate using RPA? Let us find out.
What types of processes should businesses automate with RPA?
The first thing that we need to be clear about is that RPA is not like business process automation that can extensively transform processes. Instead, RPA can enhance the pace of sorting out the existing workflows. Therefore, let us see the type of processes that should be automate with RPA:
Remember when in school we had to write hundreds of lines as a punishment. That was punishment for a good reason because it is no secret that nobody likes doing repetitive tasks. Therefore, businesses too should not punish their employees by pushing them to carry out different repetitive tasks.
Instead, leave it to the bots, and the productivity and efficiency will certainly come as a shock. RPA can help businesses automate such repetitive tasks by coding, sequencing, and scaling the programs without worrying about encountering any sort of error. Furthermore, businesses can combine RPA with machine learning as this will enable them to forecast workflows, recognize smaller inputs, and execute different business-related tasks.
Processes with Limited and Controlled Exceptions
Businesses must not shy away from leveraging the enhanced capabilities of RPA. Therefore, one must simplify the bot instructions wherever possible.
After implementing RPA, all the tasks that yield lower value should be configure in a conditional pathway using the “if not this, then that” sort of decision mechanism that the stakeholders easily understand throughout the business enterprise. In addition, make sure that all the applications in which RPA is implements must be stable enough so that the business does not have to incur any unnecessary and avoidable costs to modify the setup.
Business enterprises of every scale and from every industry need to send and receive invoices. This process is far more important for the finance departments as this relates to all the business functionalities. Now generally, it is seen that businesses need to process the invoices manually, which becomes very time-intensive, and the chances of encountering an error can increase significantly.
Therefore, businesses should invest in invoicing and payment software to process all the invoices automatically, irrespective if they arrive in physical or digital forms. Everything starting from the input of data, decision-making regarding certain processes involved in invoice processing, or even rectifying and reconciling errors can all be done with RPA.
Managing the accounts payable and accounts receivable can be a huge headache for the finance department of any organization. However, accounts payable is still kind of an interesting business process because of its challenges.
These challenges include outdated systems and processes, receiving invoices through different channels, and being highly time-intensive. Therefore, implementing accounting and inventory software can assist a business in receiving supplier invoices electronically. Further, RPA can help businesses seamlessly deliver data and documents for approval, review, and coding.
Managing Sales Orders
Every business must make a sale because it is the primary characteristic and motivation for running a business, and each sales order is unique. As a result, it is important to generate sales reports as they will help you remove the guesswork from your business decisions by providing you with a clear picture of where your company stands at each stage of the sales process.
Every sale owned by a business must be recorded in the ERP or CRM solutions that the company uses. However, it is not easy to ensure that the data remains consistent throughout the organization. And employees end up spending a lot of time and effort in entering data instead of going out and making a sale. Therefore, businesses can add RPA to the mix to carry out the activities related to the operational sale and automate different time-intensive tasks. Such as invoicing, sales order entry, and more.
Human Resource Management
It is not easy for any business to manage the massive amount of employee data and find out every little detail about them whenever required. In addition, the human resource department has to deal with many paper works that are known for making tasks time-consuming and inefficient.
Businesses can leverage RPA to replace manual processes with automated, digitized processes. Further, businesses can automate the hectic tasks such as maintaining the absence record, managing the timesheet, authorizing leaves and breaks to employees. This will help the business save both time and money while maintaining enhanced compliance and transparency.
Now that we understand the real potential of RPA and the amount of value it can add to the organization. Businesses must be quick to drive RPA implementation in their organization with assistance from the best IT technology consulting companies in the market.