RPA – What is it and where to apply?

 

RPA (Robotics Process Automation) is something that definitely creates a difference in your Business and adds more value for your Customers. But what exactly is it? Where can we apply it to achieve maximum efficiency from the project? Read and find the answers here.

The ISSUE

In our interactions with Customers both in Banking and Insurance in CEE and the Middle East, we have surely been able to notice the struggle Companies have, with manual and repetitive processes on costly ERP an BPM that aren’t in a position to respond to their fast-changing needs, especially when talking to internet browsing.

At the end, many of these processes are low or no value added for the customer. However, we believe they are important for the company. The main problem is that they consume a lot of time ( which is cost and Errors affecting Efficiency big time ) even to some of the key roles.

The RPA SOLUTION

Especially relevant and a great solution which can help in solving these issues is RPA (Robotics Process Automation). With RPA you can easily (3 months projects) automate exactly such type of repetitive and predictable processes and tasks. The only requirement is to have a clear logic and decision trees which you can describe. Therefore, tasks an employee performs based on clear rules, with no subjective decision can be automated with RPA.

Areas to improve with RPA

The following areas could be improved 19 % – 27 % ( proven by us in similar projects ) with such an automation:

Routine Workflows – these are everyday activities which an employee performs regularly. They contain similar or equal steps and you can predict them

Data Input and Validation – taking the data from one source and input in another place/system. RPA checks for compliance with certain rules between the extract and the input activities

Rules-Based Transactions – transactions which are subject to pre-defined rules and decision trees

Document Management – activities related to the documents flow and storage

Control & Compliance – execution of different checks and reports to verify the validity and the compliance of the data or process

Summary about RPA

In conclusion, RPA is your virtual workforce your operations teams can control. It sits alongside your existing technology infrastructure and has easy system integration. This means you won’t replace your current systems but you will rather make a bridge between them and on the top only for 3 months (this seems to be a really fast alternative for some integrations that could take you one year and more to integrate). You can scale instantly this automation. In the beggining start with a small process and develop step by step. This will help the cost structure of the investment as well. And the sweetest thing at the end is that once you have implemented RPA you can see the result from the next day… ROI starts immediately…

Read which are the 5 Critical factors to a successful RPA implementation

Do you want to try?

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Written by Milena Ribarova

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