Benefits of RPA
Robotic Process Automation (RPA) is the use of software known as “bots” that perform tasks traditionally performed by a person. These bots take the repetitive and mundane tasks that no one wants to do, and perform them without complaint.
In the simplest of terms, the primary benefits that process automation offers businesses are:
- Increased efficiency
- Decreased human error
- Reduced labour costs
The benefits of RPA can affect all areas of your business.
With new advances in technology, businesses have a hard time keeping up with all the changes. Many companies are still using technology dated back to the early part of the 21st century. Technology has vastly changed since then, and businesses using current tools including automation, and Artificial Intelligence (AI), have a competitive advantage over their peers.
At Thrive Automation, our developers are specialized in programming and customizing bots to do specific jobs that humans traditionally perform. The bots can perform these tasks faster and more efficiently, without the risk of human error. Our bots are taught different workflows with a range of steps, such as to:
- Receive & verify input coming from customers, suppliers, and partners.
- Take action in internal systems on the basis of received and verified inputs.
- Notify users through various channels. (e.g. email or file updates)
- Take action in customer, supplier, and partner systems as required (e.g. pay a supplier through EFT, or search for potential employees on LinkedIn based on specific qualifications & years of experience).
Workflows are based on your company’s processes and are customized to meet your company’s requirements and objectives.
When your company is ready, we can deploy artificial intelligence to enable the bots to do even more!
Robotic Process Automation (RPA) is the use of software known as “bots” that perform tasks traditionally performed by a person. These bots take the repetitive and mundane tasks that no one wants to do, and perform them without complaint.
In the simplest of terms, the primary benefits that process automation offers businesses are:
- Increased efficiency
- Decreased human error
- Reduced labour costs
These benefits can affect all areas of your business.
With new advances in technology, businesses have a hard time keeping up with all the changes. Many companies are still using technology dated back to the early part of the 21st century. Technology has vastly changed since then, and businesses using current tools including automation, and Artificial Intelligence (AI), have a competitive advantage over their peers.
At Thrive Automation, our developers are specialized in programming and customizing bots to do specific jobs that humans traditionally perform. The bots can perform these tasks faster and more efficiently, without the risk of human error. Our bots are taught different workflows with a range of steps, such as to:
- Receive & verify input coming from customers, suppliers, and partners.
- Take action in internal systems on the basis of received and verified inputs.
- Notify users through various channels. (e.g. email or file updates)
- Take action in customer, supplier, and partner systems as required (e.g. pay a supplier through EFT, or search for potential employees on LinkedIn based on specific qualifications & years of experience).
Workflows are based on your company’s processes and are customized to meet your company’s requirements and objectives.
When your company is ready, we can deploy artificial intelligence to enable the bots to do even more!
Here are some of the detailed benefits to be experienced through the implementation of RPA:
Reduced Costs
Having an automation capability can significantly lower company expenses and save businesses 40-70% in labour per business process, over time. The reason for this is that RPA eliminates the need for excess staff to perform manual processes, and allows your business to operate more efficiently.
Build a Scalable Business
RPA enables your business to scale rapidly as needed. By reducing costs, improving processes, and increasing output, amongst other benefits, RPA gives your business the tools it needs to effectively scale without the growing pains experienced by organizations without automation tools.
Human Value
In any business, there are manual business processes that must be manually carried out by human staff. These processes can be incredibly time-consuming, and in the long run, will cost your business money.
RPA eliminates the need for employees to spend excess amounts of time on monotonous, repetitive tasks, allowing your team to focus on higher-value activity within the business. Being able to focus on important, valuable tasks, in turn, helps improve employee satisfaction and engagement. Here’s why:
When staff are able to focus on high-value tasks, they tend to have more pride and satisfaction in their work.
Work Faster
Software bots work at an exceptionally fast pace relative to humans. They are extremely resilient, because they operate in a virtual environment. They are always available and able to perform the work for which they were built. They don’t take sick days or vacations, and always show up to work on time. Work can be done 24/7/365 without worry of fatigue, decreased performance, or human error that would normally occur in humans.
RPA bots can perform a task that would normally take a human hours, such as data entry or creating reports, in just minutes, saving hours over time. Our bots can calculate, click and navigate through the screen in a few seconds.
Simply put, automation enables you to increase your output without sacrificing quality.
This can also lead to the improvement of internal processes, as it allows for faster and more efficient internal reporting, on-boarding, and other internal activities.
Consistency
The great thing about robots is that they can effectively duplicate tasks with little to no variability, ensuring that tasks are handled consistently without errors over long periods of time. This allows processes to be fine-tuned and carried out with accuracy 100% of the time.
Reduce Human Error
RPA reduces the rate of errors because robots make less mistakes. Bots are efficient and capable of extracting information and executing instructions with fewer errors than humans. They can also discover patterns and learn to be more precise, helping with analytics and reporting.
Reducing the rate of human error that would typically occur due to fatigue or deviation from processes also produces a lower level of operational risk.
Flexibility & Adaptability
RPA offers flexibility to adapt to any situation. RPA systems have the capacity to adapt to certain conditions and make modifications that can improve business processes, and make them more flexible and scalable. As an example, during the COVID-19 pandemic, many of our customers updated their accounts payable bots to allow for automatic processing and payment of bills with a higher value.
Enhanced Customer Service
One of the benefits of RPA is the significant effect on customer satisfaction, as it improves an organization’s ability to respond quickly to customer inquiries. RPA can be used to instantly fulfill customer service requests, without having to pass the request along to a human employee.
Improved Data Collection
With fewer errors caused by manual data entry, businesses have access to higher quality data that can be extracted more easily, allowing for more accurate data analysis.
RPA can also collect data in a way that may not be feasible for humans to do, giving a business access to a wider amount of data, and leading to more comprehensive insights.
Security
Automation software is more secure than any human operators. The RPA will never forget a password or forget to log out of accounts, and is not subject to social engineering hacks.
Managing IT security for RPA robots is also incredibly simple as they never change roles, leave the company, or retire, and don’t have the capability to hack your data.