Robotic Process Automation(RPA) is a business automation tool that performs a series of repetitive tasks by simulating human actions. RPA is the future of automation technology, enabling business to dramatically reduce operating costs by executing high-volume repetitive tasks with zero error rates.
RPA consists of 3 main concepts:
Robot - a software running on a computer to perform tasks is called a robot.
Process - a process is a series of instructions /steps / tasks to achieve a specific purpose.
Automation - automatic execution of tasks / activities without human intervention.
Therefore, robotic process automation means that robot performs a series of steps or actions to achieve a meaningful task by imitating human behavior without human intervention.
RPA robots are capable of mimicking many–if not all–human user actions. RPA bots can interact with any system or application the same way you do—everything from copy-paste to correcting data to making calculations—so there’s no need to change underlying business systems or applications, or any part of existing business processes in order to automate.
Robotic Process Automation software robots are programmed to follow rules. They never get tired and never make mistakes. They are compliant and consistent.
Once instructed, RPA robots execute reliably, reducing risk. Everything they do is monitored. You have the full control to operate in accordance with existing regulations and standards.
RPA can reduce processing costs by up to 80%. In less than 12 months, most enterprises already have a positive return on investment, and potential further accumulative cost reductions can reach 20% in time.
Employees are the first to appreciate the benefits of RPA as it removes non-value-add activities and relieves them from the rising pressure of work. When every worker has a robot to help with mundane tasks, it frees employees to use time for higher-level work. Workers feel less stressed and become happier and more productive
RPA streamlines processes and uncovers efficiencies making the path to digital transformation fast and cost-effective. Business users build RPA robots in weeks and scale on demand. No need to change any part of the existing business process.
RPA is also non-intrusive in nature and leverages the existing infrastructure without causing disruption to underlying systems, which would be difficult and costly to replace. No need to change your current systems or applications.
It’s not a silver bullet for every problem your business has, but when applied correctly, it can drive significant efficiencies. We’ll discuss the necessary characteristics of process that leverage RPA, as well as the ideal characteristics that would make RPA especially profitable for your organization.
RPA works by getting software robots to follow a precise set of instructions in a closed process cycle. There must be rules the robot can follow for each step of the process. This doesn’t mean the robot must complete all steps for the entire process, however.
This might seem obvious, but the process, or components of a process, you’re looking to automate must be performed on a computer. Think of an RPA robot as a human looking at a screen performing repetitive tasks. If you’re implementing RPA, it might be useful to consider what paper or human-based processes could be digitized and then automated.
As mentioned earlier, RPA robot must be able to follow a precise set of rules. If the process that you're trying to automate is constantly changing, then RPA doesn't help much because it requires constantly re-changing steps to follow the new rules.
Robots are faster than humans, so the gains from automation are highest when the number of transactions is high.
RPA shines when it is used to access multiple programs on your computer.
Some industries, like logistics, have components that operate at all times of day.
For many institutions, regulatory compliance is an important, yet costly necessity of doing business. RPA is accurate in that it follows its instructions without fail and leaves an audit trail for all its steps. This makes it especially useful in ensuring adherence to financial regulations.
One of the chief benefits of RPA is that it automates boring jobs so that humans don’t have to do them and can instead do more interesting, challenging, and rewarding tasks.