5 indicators of processes that need to be automated
Robotic Process Automation allows separate units within the organization quickly streamline business processes and delivering impressive and sustainable cost savings in short timeframes.
Everest group survey of 350 CFO’s from US and Canada shows that robotic process automation key benefit is increased business productivity, 80% of companies said that RPA delivers huge time savings and cuts operational cost. If You take those numbers in mind it becomes obvious that robotic process automation brings massive improvements in operations.
RPA can be applied to a wide range of processes, but basic processes should be automated first and more complex processes should be applied only when the companies have tested the automation concept.
To understand what business processes are the perfect candidates for automation, let’s try to understand the key factors that can help You choose which processes are well-suited for RPA and what are the benefits.
There are a lot of business processes that will benefit from automation. Those should be time-consuming and require lots of employee involvement and attention, as suggested by Cudato since 90% of companies still rely on the manual performance of repetitive tasks. Typical tasks that involve lots of employees are order-to-cash and inputting data into multiple systems. Employees that will now be free of manual tasks will be able to focus on interacting with customers.
Robotic Process Automation is able to automate tasks ranging from simple copy-pasting or typing in data to complex accounts payable automation. Process complexity is defined by the number of steps and systems integration between which takes place.
If automation of simple tasks will be easier on companies budget, complex automation will more likely bring greater impact on operations, although will require more time to implement. By starting small, companies will be able to test different automation concepts and learn the possibilities of the RPA provider. After the initial success is achieved it is time to move to automating complex processes to optimize operations.
Most service providers and online businesses have the high volume of requests and orders that come 24/7. If a company relies solely on human workers, it will only process tasks when they are in office which leaves you with a large gap in productivity. RPA is a perfect solution for these tasks since robots perform 24/7/365.
While front office automation is possible it is very challenging to define the rules due to inconsistency. Back-office tasks are more repetitive and transactional as a result more suitable for automation. Back-office activities include account opening and claim processing automation. Lots of business processes in financial services are a subject of regulatory compliance which makes them hard to outsource to BPO providers. Robotic Process Automation is a great alternative to outsourcing since organizations can control processes internally. Software robots save their actions into logs that can be monitored.