Continuously evolving advancements in science and technology is ushering in new frontiers never before deemed possible. New technology is changing the way everything works. One of these technologies is Robotic Process Automation or RPA. It is a type of automated business operation that uses robots to reduce human intervention.
The tremendous potential of RPA
It is interesting to note that these are not necessarily physical robots. These robots are virtual ones and are software-based. These software robots are effective and can be beneficial in those processes where repetitive and regulation oriented works are done. RPA may never replace humans but is used by humans to do an efficient and precision-based job.
RPA can do data entry works like order documenting, invoice or order preparing, template designing, managing customer feedback via telephonic conversation, run and download reports and documents, read and reply automated email, etc. RPA can only work if the processes are rule-based, repetitive, and have a guideline with lots of structured data.
Why need RPA
Robotic Process Automation has a lot of benefits. These robots are deemed to be a better option than hiring manpower for routine tasks and can be operated 24*7. They work fast, have lower error rates, and are flexible. They can be customized according to requirements. You can easily engage your employees in other skill-based work while you use RPA for simple and mundane tasks.
Customer Relationship Management or CRM is one such area where RPA has amazing potential. Typically, a CRM manages the interactions and relationship between your business and your potential / existing customers. A lot of manpower and effort is needed to maintain this process.
Robotic Process Automation can prove to be a game-changer in this case. RPA gives a great ROI. According to reports, RPA return in investment can give you up to 200% return in a single year. But often experts say that not only financial, it can benefit your employees also. Employees welcome the idea of using RPA for boring tasks and it also helps employees with taking a lot of workload from their shoulder.
The main changes that is seen in CRM due to use of RPA –
- Higher Efficiency
Agents and employees can now perform automating, recurring, and time-consuming processes in CRM faster and more efficiently with the help of RPA.
- Increased workflow
RPA manages a lot of workloads. Hence, workers can now freely do other works and interact with customers easily.
- More scalability
Companies now need to interact and engage with their customers more freely and frequently. This is only possible with some automation. Hence, RPA can be effective and beneficial.
- Better experience for customers
With RPA, customers can now get certain services more easily and faster. This makes the customers happy and happy customers mean more profits.
- Easy operation of newer channels
RPA takes of the smallest burdens from the employees. This in return makes the employees available for customer interaction through different channels like live chat or SMS or via telephone.
You can easily jump-start a futuristic company with excellent manpower and robotic system with RPA. To ensure that the RPA works fine – your company needs an expert who will deal with these robots or chatbots. This person will work like a team leader of the RPA system.
Also Read: RPA to Improve Contact Center Performance
ERP is also benefiting from RPA
ERP or enterprise resource planning can also benefit from RPA. The fact is Robotic Process Automation or RPA comes handy for managing daily business activities like accounting, procurement, project management, risk management and supply chain operations. It effectively bridges the gap between legacy ERP methods and modern automation technology. It makes less error and can perform hectic and time-consuming tasks faster than the human labor-intensive process optimization used in a global organization.
How Robotic Process Automation is transforming ERP?
- Bank Reconciliation
The banking sector includes multiple numbers of transactions and payment methods across different locations in a different time slot. Often accountants spend long hours to check to match the transaction data. But RPA can perform this time-consuming job very easily. With RPA, banks now can allow the customers to log in to their bank accounts without any help from bank staffs. The robots also can generate perfect and accurate ledger in a very short time and can cross-check the ledger in need.
- Online business sector
ERP alone cannot manage the huge database in any type of business. Especially the online business. RPA or Robotic Process Automation is often a great tool that can help in sending invoices, collecting information, and cross-checking the transactions. It may also allow check-outs self-driven payments. These small tasks are often boring and time-consuming. Hence, RPA can boost the employee sector and also make them work more efficiently.
The key thing to remember there is RPA cannot deliver on the stated outcomes alone by itself. Hence, you need a trained expert who will direct the robots and manage them. Once the groundwork is done, RPA can be used to propel efficiencies and generate phenomenal ROI.