Robotic Process Automation (RPA) is a growing technology nowadays that people are adapting to on a large scale. It refers to a technology that helps in the automation of business processes that are usually repetitive and structured. Robotic Process Automation RPA technology can also be used to disseminate information and communicate with digital systems to perform specific tasks such as retrieving information, transaction processing, data capturing, etc.
There are numerous advantages of RPA due to which many fields, including healthcare, finance, cheap assignment writing UK, manufacturing, and retail, are adopting it. A large number of businesses have moved towards Robotic Process Automation RPA. The major areas where RPA can be applied are business departments like HR, Finance, Sales, data extraction, data entry, and different kinds of industries. Here we have mentioned ten excellent applications of RPA in practice.
1. Scheduling Systems:
A valuable application of Robotic Process Automation RPA is in the scheduling systems. It is because these systems are efficient enough to process all the necessary information and then set a schedule according to that information. For example, in healthcare, RPA tools are used to collect and process patients’ information such as appointment requests, information regarding insurance, location preferences, etc., to schedule patients’ meetings and appointments. Bots collect this information.
2. Call Centre Operations:
Robotic Process Automation RPA is very effective in certain call centre operations. Call centre agents can use them to answer specific calls that involve common queries of customers. It not only improves the experience for customers but also for call centre agents. It removes the downside of the time involved in the information processing of customers. This helps in the identification of customers instantly. It ultimately results in improved customer service as the customers do not have to wait for the agent to load their information and then proceed further. The agent has to make an entry, and the RPA system integrates all the information and data across different fields of the system.
3. Quote-to-cash:
The cost incurred on the business during sales operations is very high. However, selling is an essential function for the survival of a business. It is crucial to make the selling side operations error accessible because they may result in a loss in terms of money. With the help of RPA tools, the selling operations are automated, decreasing the chances of human errors. It also speeds up the cash flow by delivering invoices to customers in less time than ultimately results in earlier payments. Most importantly, it reduces the cost, which results in more profit.
4. Data Migration and Entry:
In legacy systems, employees usually perform the task of pulling out relevant information from the design for the latest procedures. This is a time-consuming and repetitive task that is better if automated. It also has a risk of human error. Robotic Process Automation RPA allows the process of data migration to be flawless and performed in less time. It enables employees to perform other tasks that usually require human cognitive skills.
5. Bank Statement Reconciliation:
Preparing a bank statement reconciliation sheet is crucial in every organisation. This process, if performed manually, involves extracting data from bank statements and from the company’s records to reconcile them and adjust necessary data. Bank reconciliation statements are usually prepared on spreadsheets that are really time-consuming for humans. Comparatively, if this process is automated, it becomes easier and time-effective.
6. Absence Management:
Absence Management System is a crucial function in an organisation that most managers and personnel are unaware of. Moreover, everyone is reluctant to record their absenteeism from work, or most probably they forget about mentioning it. It is better to automate this system using Robotic Process Automation RPA to work effectively. Automating this system will remove human error and help proper maintenance of the system without any discrimination between the employees. A real-life example of this is UiPath.
7. Inventory Control:
Inventory control is one of the most crucial decisions in operations management and plays a pivotal role in making important decisions regarding the production of a specific product. Inventory control applies to all three types of inventory, namely finished goods, work-in-process, and raw materials inventory. Automation in inventory management with the aid of RPA makes it more time effective and efficient. RPA bots keep a check on the inventory in warehouses to see if it meets the required demand level or not. In case the inventory is less than the desired quantity, it alerts the system so that managers can take necessary measures.
8. Responding to Partner Queries:
A large number of businesses depend on independent intermediaries and brokers who help them sell their products and services. These intermediaries or partners also provide information to the company about consumers’ needs, wants, and market trends. In return, they receive valuable information and propagate it further or use it to increase sales. It is, therefore, necessary to respond to them on an urgent basis to prevent any delay in the sales process. Automating response to partners’ queries using RPA saves not only cost and time but also improves sales. The smooth transmitting of information is crucial for any business, and this feature is enabled by RPA automation.
9. Claims Processing:
Insurance companies deal with a large number of claims on a daily basis. The insurance company then processes these claims to check their authenticity, and then it proceeds further for the compensation of customers’ loss. It is therefore crucial that the time involved in the processing of claims should not be so long that the customers become suspicious about the customer service of the company. RPA automation facilitates claim processing on the basis of pre-defined rules programmed in them. They eliminate the risk of human bias and process the claim on purely logical and technical grounds in comparatively less time than enhances customer satisfaction.
10. Updating CRM:
Customer Relations Management CRM is an important marketing concept that plays a crucial role in customer satisfaction and building demand for company offerings. Companies, therefore, maintain and update this system regularly. The update of CRM interactions is really time-consuming and seemingly unproductive; however, they are necessary for a business. Automation of CRM interactions enables a company to integrate communication data like email and calls into the CRM system.
