Robotic Process Automation technology or RPA is a relatively new technology. Even though it has not been around for long, it has already managed to gain an increasingly high amount of attention among the corporate world recently. Many businesses are starting to take notice of how RPA and AI improve customer experience. The technology allows for software robots to learn how to mimic human behavior.
As an example, the RPA technology is able to navigate enterprise software systems such as FSM software, ERP systems and service management tools. It accomplishes this by using each application interface as a human would. The only exception is that a robot can perform the work at a much faster pace and more efficiently without the need of taking breaks or slowing down.
As with all technology, however, there are still some limits to the use of artificial intelligence, RPA software, and machine learning. Even still, RPA and AI improve Customer Experience and can boost your sales.
How the Use of RPA Makes Sense in A Corporate Environment
Recently, research was conducted with finance and accounting professionals on the benefits of using RPA software. The study concluded that the robotics process automation helped to eliminate much of the repetitive, time-consuming manual processes that professionals in these industries take on each day. RPA can help improve efficiency in the workplace and deliver intelligence data that is more accurate. It can also offer real-time access to financial data with analytics and reporting capabilities. Since the boom of Big Data, the amount of financial data has been exponentially increasing. The only way professionals in finance are able to keep up is with the use of this type of technology. RPA and AI can add real value not only to customer experience to the operational level but also to the workplace from a strategic viewpoint and can help a company’s bottom line.
Advantages of Using RPA Software In The Workplace
The RPA approach can streamline a company’s internal processes by combining technology and employees. It can also enable insights and trends to be found quicker to allow businesses to take on more opportunities. RPA works better with common tasks that are rule-based and require manual inputs. Once set up, the software robot will use other application interfaces. Generally, only a few modifications will be required to implement the robot. In some cases, no modifications will be necessary when it is set up properly from the beginning. Below are some of the top benefits a company can gain from implementing RPA software.
1. Reduction in Costs
When a company can automate some of their most time-consuming tasks, the savings can be of 40 percent to 75 percent and upwards of 30-percent the cost of paying an employee to do the same tasks. Software robots typically cost much less than a full-time employee.
2. Improved Customer Experiences
When a company deploys an RPA, it will free up more time for employees to put high-value resources back on the company’s front lines to help define customer success.
3. Lower Operational Risks
RPA software can help reduce the number of problems caused by human error. Human errors occur due to a lack of knowledge, tiredness, and confusion. When a company can successfully reduce their rate of errors, it will end up lowering their level of operational risk.
4. Internal Processes Improved
For a company to leverage RPA and artificial intelligence, they have to clearly define governance procedures. Accomplishing this will allow for quicker internal reporting, better onboarding and more efficient internal activities. When implemented properly, the use of an RPA system can increase employee engagement and improve customer experience.
5. Current IT Systems Will Not Need Replacing
Many companies are afraid to implement an RPA system because they are worried, they will have to replace the existing IT systems. Thankfully, one of the biggest advantages of a virtual workforce is that it will not require the replacement of your existing systems. Instead, the RPA bots will help leverage the systems you currently have in place, the same way human employees can leverage current systems.
6. Boosting Employee Engagement
Employee retention is important for the success of many businesses. Many workers are unhappy with their jobs when much of their day consists of time-consuming and menial tasks. Implementing RPA bot solutions helps provide employees with meaningful and engaging work. Entry-level and millennial workers have reported higher levels of unhappiness and boredom while working. Many have stated they are more likely to leave their current job if they feel they’re performing tasks that have no meaning. RPA and AI are the keys to keeping employees engaged and happy. According to a McKinsey report, RPA and AI improve customer experience by enabling the automation of many repetitive tasks, a fact that allows employees more time to focus on creativeness and deep thinking. This allows businesses to retain and attract more talent.
Many enterprises implement RPA and Al in Customer Service Automation tools. AI helps modern jobs in many industries become more fluid and allows employees more freedom from many of their mundane and inefficient administrative tasks. With more free time, employees can spend more time driving innovation and other key performance areas of the business such as product development and customer service to help contribute to the company’s bottom line.
Caryl Anne Crowne is a contributing writer and media specialist for Allegra Network. She often produces content for a variety of digital platform blogs.