Robotic Process Automation (RPA) Explained

Robotic Process Automation (or RPA for short) can be used to automate every-day, rules-based tasks.  RPA software solutions, often referred to as ‘bots’, can be configured to manage mundane business activities independently and in many cases, with little or no human intervention.

RPA Explained

Typical Processes that can benefit from Robotic Automation

RPA is best suited to automating tasks that are stable, standardised and repetitive, some examples of processes that would benefit from RPA adoption may include:

Finance

  • Accounts Receivable Automation
  • Accounts Payable Automation
  • Accounts Recon Automation
  • Invoicing & Remittance
  • Purchase to Purchase Payment
  • Purchase Requisition
  • Travel & Expense Processing
  • Data Extraction and Reporting
  • Fraud Detection
  • Intercompany Recharging

 Human Resources

  • Application & CV Processing
  • Interview & Feedback Notifications
  • Employee On-Boarding
  • File & Data Management
  • Employee Induction & Training
  • Monthly Payroll Automation
  • Company Survey’s/Employee Surveys
  • Attendance Records & Time-Keeping
  • Criminal Checks & Referencing

Customer Services

  • Contract Renewals
  • SLA Management
  • Underwriting and Account Creation
  • Order Processing
  • Record Amendments

 

IT

  • Diagnose Technical problems
  • Issue Resolution, eg. Password Reset
  • Manage Support Tickets
  • Data Back-Ups
  • Data Cleansing

Operations

  • Project Management Reporting
  • Supply Chain Cost Calculation
  • Contract Initiation & Cancellation

The Benefits of RPA

Automation using RPA software can yield many benefits to an organisation looking to optimise its business processes:

Quick Productivity Gains

Because RPA software interfaces with existing applications and systems, it can be rolled out rapidly, with minimal business disruption. At the same time, bots are typically applied to existing processes, so productivity gains can be realised in a short timeframe (sometimes only weeks). When implemented effectively, this technology can increase productivity levels quickly. Once bots are up and running, they can work around the clock as they do not need sick days or annual leave

Reduced Labour Expenses

By delegating labour-intensive processes to RPA, companies can cut costs such as salaries, overheads and so forth, while adding more flexibility into the labour pool (because RPA resources are highly scalable). Because RPA software interfaces with existing applications and systems, it can be rolled out rapidly, with minimal business disruption. At the same time, bots are typically applied to existing processes, so productivity gains can be realised in a short timeframe (sometimes only weeks). Unlike outsourcing or offshoring, RPA keeps the work in-house. This means companies can manage the ‘workforce’ more closely; while those in regulated industries are also able to comply with data privacy and residency regulations, prove governance standards and so forth.

East To Measure ROI

Research firm Forrester has pointed out that ROI is easy to prove, because the cost of a bot ranges from USD 5,000 to USD 10,000 annually; and this can be directly compared to the expenses associated with workers who are replaced or re-assigned due to the technology.

Consistent, accurate output

RPA technology is designed to carry out the type of routine tasks that people are usually responsible for. Because this work is digitised and automated, the risk of human error and its potential costly consequences are reduced. At the same time, tasks are processed the same way every time, which enhances consistency and the quality of output.

Data Compliance and Analytics

With everything handled digitally, the firm has access to metadata that provides process oversight and supports regulatory compliance. When the software logs every action, it’s easy to monitor progress and prove the who, what and how of processes – should this information be required by internal or external auditors.

Data processing

Many industries are data-driven. Their processes rely on large volumes of documents and data, as well as multiple legacy systems that store and manage this information. RPA can reach across these systems to retrieve and collate data for reports, customer on-boarding processes and other process outputs.

Scaling for Growth

With the ability to work 24/7 and scale quickly to meet demand, RPA allows companies to increase output and expand operations or react rapidly to new business opportunities. Whether organisations want to increase the lifetime value of customers or explore new income opportunities, bots provide the efficiency and agility required to support these business goals.

Velocity IT – the go-to RPA partner

Request a RPA Demo

We have many live examples of every-day business processes that demonstrate the tangible benefits of implementing RPA.   Alternatively,  If you have already identified a business-specific use case that you are looking to improve with RPA, then we’d be happy to personalise your demo to your exact requirements.

Discover exactly what Velocity IT can help you achieve with RPA – contact our experts to arrange 1:1 demo.

 

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OUR WORK

Our clients span multiple industries and scale the world. Our use case studies demonstrate how we provide process automation and optimisation solutions to aid businesses on their journey to digital transformation.

Get started with a process first approach to RPA

It’s clear that RPA can add a lot of business value, and at a rapid pace, so when adopting this type of automation solution it is essential to consider the technical foundations of your core systems, your security policies and of course the processes themselves – at Velocity IT we can help you adopt a process first approach in readiness for harnessing the full potential of software robotics – get in-touch to arrange a call with one of our RPA specialists today.

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