Modern RPA is one step closer to make a lean business process. It is the new wave of future technologies that have escalated service automation. Though many are skeptical about the potential of the top RPA tools, early adopters have achieved multi-faceted business results.
“RPA allows enterprise-safe end-to-end process automation”
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Nearly 30% of data will be critical to people’s daily lives in 2025.
Approximately 10% to 20% of human work hours are spent on repetitive and dull tasks that can be easily automated by RPA.
PWC’s Big Decision Survey 2016 revealed that 92% of global businesses are already somewhat or highly data-driven. Being a cross-functional and cross-application macros, RPA solutions create an environment where robotic and human tasks complement each other. However, RPA can more efficiently tackle data-driven tasks. I see RPA as a cost-effective and non-invasive way of automating the mundane business process without having to modify the existing custom software.
How big companies are utilizing RPA for data entry?
Earlier, the companies who have started the journey, are utilizing RPA tools like Kapow, Blueprism and UiPath to increase the efficiency of their internal processes. As RPA can easily automate the highly manual, rule-based and high volume of data, hence using it for data entry and management is the right choice for any large-scale firm.
Big giants like Google, Microsoft, Amazon, Netflix, LinkedIn, and Intel are using RPA to tackle all the rule-based data entry jobs. Their large scale of unstructured data like invoices, declarations, certificates, and other transactions are now easily managed by RPA techniques. This indeed increases the level of accuracy and speed of the tasks.
Besides, companies like Xerox, WhirlPool, Deloitte, KPMG are no less in enjoying the fruit of RPA’s labor. Being large-scale firms, RPA works for them on a minute-to-minute basis automation for data extraction, migration, and entry.
Even, RPA is already trending in the banking industry not only because it yields rapid ROI, but also it generates data that can make banks stand out from their competitors.
“RPA offers 43% time reduction for processes like billing, collections, credit, etc.”
What is there for your business?
Perhaps all businesses can get benefited by some form of RPA approach. The crucial consideration is the strategy. Here you require a design thinking approach to identify your desired outcomes and implement solutions for end-to-end automation.
Majority of the companies agreed that data entry is the most time-consuming job. While strategizing you have to thoroughly discuss with your RPA service provider for realizing the outcomes.
How it can support?
- Scraping data from the web
- Extracting structured data from documents
- Copy & paste data
- Filling in forms
- Read and write from databases
- Make calculations
- Collects statistic from different social media platforms
With the help of tools like UiPath, Blue Prism or Kofax Kapow, you can begin with ensemble data management with other process automation to improve the workflow creating scope for a better revenue generation.
It is fair not to keep any unrealistic expectations. Instead, you take time and talk to any top RPA service provider about the pain areas in the existing process in your workflow to make your data management smooth.
RPA is becoming a priority for modern businesses as it offers:
- Cost savings of 25-50%
- Higher staff productivity (service & capacity) of 35-50%
- 100% accurate data
- 30-50% faster processing times
Time Ahead
As the amount of work and types of data grows, RPA offers interesting solutions for improving outcomes in all analytics area. RPA along with machine learning improves the data management quality.
The prediction that the RPA market is about to reach $5.1 billion by 2025, shows the willingness to use the RPA tools for more business processes.
Gaining advantage through RPA
All things considered, you need to do an analysis of your existing process, identify the outcomes that matter most and then develop an RPA strategy. Using attended automation for automating repetitive task helps in earning faster ROI, whereas for automating integration to data, apps & legacy systems, unattended automation is the right choice.
