Leveraging RPA technology to drive business growth during an economic crisis

The world is changing, resulting in the need for new and advanced technologies. Impending recession and the economic crisis have impacted multiple businesses and industries. Companies are laying off employees to save costs. Several businesses are shutting down as a result of the tough landscape. In such circumstances, brands need to innovate and stay on the top with the help of new-gen technologies. RPA is one of the most helpful tools to automate business operations and save costs. What is RPA? RPA or robotic process automation is nothing but the use of bots and artificial intelligence to automate repetitive, time-taking and manual tasks. With RPA technology, companies can optimize their business operations to become recession-proof.

The COVID-19 pandemic has transformed the business environment. Brick and mortar stores have lost their importance due to the new normal of social distancing. Companies with traditional business models have been forced to either cut down on their costs drastically or shut down completely. Brands have rapidly adopted remote working and the adoption of digital methods of work. However, this new working style comes with its own range of challenges and obstacles. RPA helps in overcoming problems in engaging customers. With several organizations working with only 50% of their human resources, companies are using RPA tools to reduce the workload while guaranteeing omnichannel customer engagement.

How can RPA technology drive business growth?

A common question amongst critics is: Can RPA technology drive business growth? RPA tools offer several benefits that can save companies during an economic crisis and drive business growth. During recession-like conditions, companies are often forced to reduce their workforce. However, the service being provided to the customers must always be superior to that provided by competitors. A small workforce makes this difficult. This is where RPA comes in. The main objective of RPA is to make the human resources of a company more efficient. This is done by automating simplistic, non-core functions which otherwise take up a lot of unnecessary time on the part of the employees. While RPA tools execute these functions, the human resources can prioritize and focus on the core business operations. For instance, you can use RPA to handle HR functions like new employee joining formalities, payroll processing and hiring shortlisted candidates. This will free up time which HR managers can use for more important activities like finding, interviewing and training candidates.

Customer journey transformation requires time and effort. Employees play a vital role in optimizing the end-to-end customer journey. However, current economic situations have impacted the earning capacities of companies with a reduced workforce. The focus is on lowering expenditures. The cost of executing an RPA platform is much lesser than hiring human resources with the necessary skill sets. This helps companies lower their staffing costs while simultaneously providing the same level of service to customers.

How can RPA technology drive business growth?

Until a few weeks back, remote working and working from home were unknown and scarcely used terminologies for several companies. Now, these are the new normal. The world health pandemic has ensured that people work from their homes. Working from home, however, has its own set of challenges. What are the challenges of working from home? Communication issues and technical glitches can result in a fall in business functionality. Lack of human-to-human contact can affect the understanding of complex issues. This increases the time taken to get work done, having a negative impact on customer satisfaction. RPA technology can make the work from home process easier. For instance, you can use RPA to resolve conflicts, automatically send meeting reminders, distribute notes and more. 

Customers expect a consistent and superior service, irrespective of economic issues. Remote working, lesser staff etc. should not have an impact on the customer journey. To ensure customer journey transformation, businesses must work towards optimizing and enhancing their offerings. One of the easiest ways to cement customer loyalty is by providing an omnichannel experience to customers. This is especially true during the current times when several companies are moving from offline channels to online channels. RPA integration allows marketers to standardize all the channels of communication. Use RPA to enable the translation of structured and unstructured data from different channels, thereby enabling agents to understand the needs of customers and provide an enhanced experience.

Almost all industries have realized the significance of RPA technology. Amongst these, the benefits of RPA for the medical industry are manifold. Due to the COVID-19 crisis, hospitals and medical clinics have been overwhelmed with patients. By using RPA, medical institutions have managed to streamline their operations and cope with the influx of patients. RPA has helped in processing COVID-19 testing kits and receive coronavirus results in minutes, as opposed to hours and days. Several hospitals worldwide have used RPA tools to automate monotonous functions like registering patients, entering their data etc., which was previously performed by human staff. RPA-driven robots will soon be used in COVID-19 isolation wards, to protect the medical staff from positive cases. Robotic process automation is also being used to conduct coronavirus-related data analysis.

The only way to keep up with a rapidly changing business environment is by staying updated with innovative technologies. The impending economic slowdown is bound to affect every business owner. The key to cementing business continuity is keeping customers happy and satisfied. With RPA, marketers can ensure omnichannel customer engagement at minimal costs. Low costs and high value to customers can safeguard a company from recession.

At Talisma, we have optimized our RPA solutions to include elements like a contextual engine, layout designer and workflow automation, at affordable costs. Our RPA technology can help your employees work more efficiently from their homes. In addition, Talisma RPA will also remove all bottlenecks from the digital customer journey, ensure faster resolution of customer queries and lower costs through workflow automation. Get in touch with us to know more about our RPA framework and how we can help you overcome the economic crisis.

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2020-05-08T04:18:28-05:00

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