“There’s a lot of automation that can happen that isn’t a replacement of humans but of mind-numbing behavior.”
— Stewart Butterfield
Robotic Process Automation (RPA). Such a buzzword!
RPA is disrupting every industry and for the good. The fear that RPA will cause humans to lose their jobs stems from a grave misunderstanding about what RPA is and what it can do. To reiterate what Stewart Butterfield said, it is just going to replace the repetitive, manual, mind-numbing tasks humans do, freeing up brain space for something bigger and better.
While everyone has heard about ‘RPA’, what does it exactly do and how can it be used? That’s precisely why we wrote this article. We are going to tell you about some interesting use cases of RPA so you can understand what EXACTLY it can do. Here goes.
What is RPA?
To put it simply, Robotic Process Automation (RPA) is when Artificial Intelligence is used to increase the operational efficiency and accuracy of the tasks otherwise performed by human employees and decrease the time taken to do so.
RPA Use Cases For Diverse Industries
Before you read this, keep in mind that along with all the benefits that these use cases portray by using automation — the most obvious one is that everything can be done AUTOMATICALLY.
- Better claim management
- Quicker and more accurate patient registration and scheduling
- Faster payment processing
- Document management
- Stricter regulatory compliance
- Finance & Banking
- Faster processing and reviewing claims and applications by comparing set parameters
- Better, error-free accounting and statements
- Accurate, swifter data entry
- Quicker credit checks
- Lower loan processing time
- Stricter regulatory compliance
- Faster client onboarding
- Data-driven investment management
- Faster taxation-related processes like filing returns, analyzing statements, calculating income, expenditure, payable taxes, etc.
- Accurate, real-time production reporting
- Efficient administration of inventory
- Error-free invoice generation
- Enhanced customer experience
- Auto report generation and dissemination for connectivity issues, management problems, etc.
- Easy query forwarding and responding
- Number portability
- Competitor price tracking
- Better First Call Resolution (FCR)
- Product categorization by extracting SKU data
- Swifter delivery tracking and returns processes
- Better customer services through chatbots
- Auto inventory management and monitoring
- Faster data collection and analysis for marketing campaigns
- Automated checkout and order management
RPA is Your Ladder to Success
These are just a handful of use cases of RPA and give only a partial view of what you can do with this technology. RPA can find use in all the industries that exist on this planet. It is here to stay.
Quick Fact: Did you know that it has been almost 2,000 years since humans started using automation machines in some way or the other? The Britannica Encyclopedia says the Chinese developed trip-hammers that were powered by flowing water and water wheels using the basic principles of automation. The Greeks weren’t left behind. They experimented with simple reaction motors powered by steam!
Adopt RPA today with NGenious Solutions! By 2024, Gartner has predicted that organizations will be able to reduce operational costs by 30% using RPA! The pandemic has only accelerated the RPA adoption journey for organizations across the globe. It’s time for you to get RPA too! Get in touch with our experts for more!