2021 – The Year For RPA

2021 – The Year For RPA

RPA is emerging as one of the most successful technologies, considering its capability for simplifying various operations in “on-premise” as well as cloud environments. With having advantages such as amplified accuracy, reduced cost, flexibility, and scalability, it is slowly becoming an integral part of the operations of any business.

In addition to this, technological advancements in AI and machine learning have further enhanced the power of RPA to reach greater heights in terms of automating complex business processes with ease.

According to the Gartner Press Release in September 2020, the revenue from global Robotic Process Automation (RPA) is expected to reach USD 1.89 billion in 2021. That accounts for a 19.5% growth rate in a single year, as compared to that in 2020.

The numbers speak for themselves and showcase a huge promise from RPA in terms of providing intelligent automation solutions to transform traditional business processes and provide a substantial impact on various industries. The year 2021 will surely prove as a benchmark for RPA adoption on a global scale.

Let’s look at some of the key applications of RPA in modern day business -

Customer Service
One of the most crucial and primary application of RPA lies in providing an efficient customer service. In the case of a company using RPA to resolve customer complaints: an efficient RPA solution in place can help sort and process the data gathered from the user complaints, along with the data associated with a user’s profile into predetermined categories. Subsequent actions can be taken by the bot to allow faster case resolution and automate various other non-productive tasks as would have been in the case of a human providing the same service.

Invoice Processing
This is one of the most ideal applications of RPA as invoice processing is strictly a rules-based process by itself. An efficient RPA bot can automate various routine tasks as in the case of a human worker such as recognizing files and attachments, extracting and processing key data, and reporting the processed information to the customer, thus saving a lot of time and energy.

Payroll Management
Most of the Payroll processing tasks are mundane and monotonous. At times, it becomes highly tedious and time-consuming for HR professionals to carry out tasks such as employee leave requests, expense management, employee onboarding/offboarding, tax management, etc. RPA bots can be leveraged to automate all the above processes, along with other aspects such as payments, salaries, overtime, commissions, bonuses, raises, wage deduction, etc. This leaves your HR staff with a happy face so that they can focus their attention on more productive tasks.

Check out our article on “Benefits of RPA in Payroll”.

Information Storage
Back in 2017, an article by The Economist mentioned: “The world’s most valuable resource is no longer oil, but data”. We could not agree more as we are seeing organizations investing huge chunks of $$$ in products and solutions that can help them make the most out of their data. The volume of data generated by businesses is growing exponentially which has made it inevitable to pave a way into utilizing this data efficiently. RPA can sift through huge volumes of data seamlessly, error and hassle-free, and can function 24x7. It can help store vital information in central repositories and keep it handy when needed, which is hard for humans to do, error free, consistently.

Data Analytics
Finally, it comes down to applying analytics on the data that resides in disparate systems that can help provide actionable business insights. RPA coupled with analytics and data visualization can help businesses improve core processes and eliminate areas of risk. It also helps increase ROI as the management has access to all micro level information with insights to help generate business opportunities from them.

We at Aress, provide RPA assessment, consulting, and support with the following services:

Process assessment & proposition of UiPath based solution architecture
Robot development, testing, and implementation
Robot maintenance & support
RPA technical support / Help desk support

We have successfully delivered RPA and AI/Analytics solutions for healthcare, financial services, management consulting, retail, manufacturing, and logistics sectors. 

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