Now is the perfect time to implement robotic process automation (RPA). Consider these robotic process automation applications (use-cases) to improve efficiency.
What The Statistics Show About RPA
A market research company named Adroit published a study recently. The study predicts that the compound annual growth rate of the RPA market will reach 33% by 2025. That is equivalent to $6.22 billion.
That Adroit’s study shows that RPA experiences exponential growth. Moreover, such a trend will continue for years to come.
Know the factors affecting employee performance
Many companies worldwide began investing deep resources into RPA to increase productivity. This is notable, especially in the healthcare industry. Yet, all other industries are following suit. These companies enjoy a competitive advantage thanks to RPA.
Indeed, RPA is the new must of competitive business. Of course, the first thing to do before implementing it is to learn more about it. Learning how it benefits your employees is a great start.
Robotic Process Automation Applications
There are just tons of robotic process automation applications or use-cases. It is impossible to list all of them in this article. Yet, this article lists down some robotic process automation applications that most companies deal with.
Employees see this task as a nightmare. Well, RPA alleviates the stress brought by this tedious task. Software bots have the capacity for basic pattern recognition. Furthermore, they drastically reduce the need for manual data entry. That is because they can convert almost any kind of text into searchable and editable machine-encoded text.
Operational activities in sales
Regardless of a business’s size or industry, sales are a critical aspect. Processes like these are monotonous yet critical:
- Data replication
- Invoice preparation and delivery
- Smooth update of Customer Relationship Management (CRM)
Indeed, these tasks might stress out your employees due to their inefficiency. However, software robots eliminate such bad news. They have the ability to handle these operational activities on their own.
For instance, many companies use RPA bots to enable customers to have invoices much faster than manual performance. This results in earlier customer payments. Moreover, it improves the cash flow. The bottom line? Better customer satisfaction.
Furthermore, bots make no mistakes, unlike humans. Hence, this avoids customer complaints and dissatisfaction. Such problems are often the result of clerical mistakes.
Everyone can agree that the payroll function is one of the most tedious tasks that ever existed. Moreover, achieving an error-free payroll process is crucial. Interchanging salaries is the last thing HR managers need.
Modern payroll software with the aid of RPA reduces the workload of HR professionals. Embracing such software might not come so easily especially if your company relies on legacy systems a lot. However, just imagine how massive the benefits RPA brings.
Auto-generation of reports
Employees often hate regular reports due to their repetitive and time-consuming nature. However, they are crucial in keeping everyone on the same page.
Companies use RPA bots to put necessary data together to prepare these reports. Moreover, RPA bots ensure that everyone reaches those reports promptly. This eases the burden of compliance.