8 Real World Use Cases of Robotic Process Automation

Robotic Process Automation (RPA) uses software robots to automate routine and repetitive tasks to increase productivity, efficiency, and accuracy. RPA services have rapidly gained popularity in recent years due to its ability to streamline business processes. Besides, it also reduces operational costs and improves customer satisfaction.

In this blog, we will explore the world of RPA, its benefits, and how it is transforming businesses across industries. We will discuss the basics of RPA and its applications. Additionally, we will identify a factor that accelerates business ROI with RPA.

So, let’s dive in and explore the exciting world of RPA!

Incredible RPA advantages that will boost your business

Why Is RPA Technology Trending?

Modern RPA systems are capable of a wide range of tasks, including:

• Open and interact with applications.
• Copy the information and paste it into the appropriate cells.
• Navigate websites, enter data into web forms, and click buttons.
• Text recognition.
• Load data from multiple sources into one, and copy data from one to several.
• Compare and validate the data.
• Use an instant messenger to communicate (chatbots).

Factors that accelerate business ROI with Robotic process automation

The RPA robots have the following key features:

User-Interface Interaction: RPA bots can mimic human interaction by entering data into fields, jumping the cursor, pressing buttons, etc. The robot’s script includes rules and conditions that simulate actual user behavior. Businesses can work with bot developers to create scripts. They may also use RPA technology to record directly on the system.

Process Execution: The RPA robot can execute processes like humans, including user interface interaction.

Handling Huge Data: The RPA bot can handle large amounts of data in the user interface and process interaction. They transfer and use data from a user interface or external storage.

Here are 8 real-world use cases of robotic process automation.

Supply chain and logistics

RPA can boost supply logistics and supply chain management by automating time-consuming repetitive tasks like data entry, which improves workflows. RPA extracts information from a single program and pastes it into another using automated software robots, or bots.

7 ways that businesses are incorporating RPA into logistics and supply chain workflows.

• Data entry automation
• Predictive maintenance
• Logistics management
• After-sales service
• Initiating purchase orders
• Order management
• Supply chain diversity

Healthcare

In healthcare, RPA is used to streamline several administrative tasks. This includes patient registration, appointment scheduling, processing claims, and billing. By automating these tasks, healthcare organizations can reduce errors, minimize wait times, and improve patient outcomes.

Banking and Financial Services

Next, in banking and financial services, RPA automates back-office tasks, including data entry, account reconciliation, as well as compliance monitoring. As a result, it helps financial institutions to reduce operational costs, minimize errors, and increase efficiency.

However, by using automation, accounting sectors boost accuracy by 95%, and overall expenditures can be reduced by up to 80%.

Retail

In retail industry, RPA automates inventory management, supply chain management, and customer service. By automating these processes, retailers can optimize inventory levels, reduce out-of-stock situations, also improve customer satisfaction.

According to an Everest Group study, automation can boost product categorization reliability by 98.5 %. In short, using RPA for retail can assist in correctly categorizing several products based on user-related factors.

Manufacturing

RPA is not only hitting the Manufacturing sectors , but also, quality control, inventory, and supply chain management. Because this assists manufacturers in reducing errors, it improves productivity, as well as increasing efficiency.

Insurance

Furthermore, the use of RPA can automate the process of processing claims, underwriting policies, as well as monitoring compliance. As a result, a company can reduce the time it takes to process a claim, prevent errors, and provide better customer satisfaction by automating these processes.

Government

3 types of RPA Bots are employed in the government sector: Task bots, Medabots, and IQ bots.

RPA automates tasks in the government sector, including transcribe data, document management, as well as compliance monitoring. So, this helps government organizations to reduce operational budgets, minimize mistakes, and increase productivity. 

Human Resources

In HR, RPA is being used to automate tasks in case of employee onboarding, performance evaluation, and payroll processing. By automating these tasks, HR departments can reduce errors, minimize manual intervention, and increase efficiency.

According to Deloitte Global RPA Survey, “78% of the organization that has already incorporated RPA is projected to boost their investment in RPA significantly for the next 3 years”.

Conclusion

To conclude, RPA transforms various industries by automating repetitive, as well as routine tasks, improving efficiency, and reducing operational costs. Despite the financial strains brought on by the COVID-19 pandemic, it is also estimated that the RPA sectors will expand at double−digit rates till 2024. As RPA technology continues to evolve, it is expected to become even more prevalent in the coming years. Which will lead to further automation of business processes and increased productivity.