Robotic Process Automation
Robotic process automation is designed to automate repetitive and rule-based tasks performed across the enterprise. Process areas that were earlier difficult to automate are experiencing newer possibilities after being touched by this technology resulting in higher efficiencies and profitability. The results expected are, elimination of human efforts (FTE Savings), improved turn around and quality. Other developments in the areas of artificial intelligence and machine learning have propelled RPA to a more suitable position within organizations looking to benefit from it.
The difference between RPA and traditional IT automation is the ability to be aware and adapt to changes and exceptions. Once RPA software has been skilled to capture and understand the actions of specific processes in existing software applications, it can then manipulate data, trigger and initiate tasks/activities and communicate with other systems unconventionally. Large, Medium & Small-scale organizations will benefit from RPA by accelerating tasks in a wide range of industries like insurance, human resource, finance, banking, CRM and any other BPO/KPO services. Organizations would usually outsource these kinds of tasks to the vendors/third parties to mitigate the risk factors of Quality, Time & Shortage of employees.
RPA helps not just in eliminating repetitious tasks but allows employees to spend more time and effort in valuable & logical work. RPA helps with repetitive tasks that demand quality processing at any time of the day in a quick and inexpensive way.
As organizations gear up to embrace RPA, there are technologies already in play such as Bots that are facilitating this transition and making decisions easier with proven capabilities. .
RPA technology offers companies an alternative to outsourcing and can ultimately result in lower operating costs, decreased time cycles and increased productivity. Because RPA technology tracks and monitors all the tasks that it automates, it can also help companies to become more audit- and regulatory- compliant. Though it is expected that automation software will replace a number of full-time employees worldwide in the future, many high-quality jobs will be created for those who bring skills in the areas of RPA.
Customer Relationship Management (CRM):
Customer relationship management (CRM) is a term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth. CRM systems are designed to compile information on customers across different channels or points of contact between the customer and the company which could include the company’s website, telephone, live chat, direct mail, marketing materials and social media.
After all, CRM system in business has become mandatory in the recent times to stay connected with customers by tracking their needs, experience, history & issues. Though itis advantageous to have a CRM system, organizations are finding it heavy from the investment stand point. CRM is a platform to stay connected with customers of the organization, but the investment that any organization will have to pool in, to have skilled employee’s who work on this platform is high and never ending.
This is the area where the employees would usually have the simple, repetitious & rule-based tasks with moderate or high volumes making this a case for use of RPA, where a BOT replaces human effort.
At the same time, business leaders are looking for higher productivity in CRM, increasingly so since productivity rates for enterprises as a whole have been flat recently. It is important to ensure swiftness in customer processes that demand quick, consistent and accurate service. Now let’s understand the compatibility between CRM & RPA
CRM will have the tasks that are to be performed by an agent/user which are Repetitions, Rule based, High in volumes with the structured input and few exceptions. On the other hand, RPA can handle activities effectively with huge benefits, which are Repetitions, Rule based & High in volumes.
Now the question should be, is this the idea to introduce RPA into CRM suit and reduce human efforts?
Yes, That’s a right answer. Just refer the image below.
By their very nature, RPA projects can have clear benefits. You are replacing specific human effort by automation. It is common for a bot to replace the equivalent of three to four FTEs when it takes over a process. You can get a clear estimate of man-hour savings, for example, by calculating how long it takes to complete a simple, repetitive task that uses known business rules and structured data. Having a Proof of concept (POC) developed before project kick off is always advisable.
You’ll need to be able to identify allies in your organization as well as resistors to complete your stakeholder analysis. Your allies will include those who want better legal or regulatory compliance. RPA bots chug away at nearly 100% accuracy. That means fewer errors that cause trouble.
Any RPA implementation will/must face the resistance from the employees, who are currently owning the peace of work that is being automated. This is very common factor and this must be handled gently. Leadership teams must ensure that the employees are in line with the organizations long term vision towards technology.
Possible Business Restrictions:
- Monetary Expense – Budget restrictions are among the biggest reasons why businesses opt not to implement RPA as it is going to take all set of new budgets, though it can recover the investments faster compared to other/existing technologies or techniques
- Technical Ability – Many people believe that in order to leverage robotic process automation, the end user must possess significant technical skills. This misconception often holds them back from many benefits that are available to them
- Major Change – Adopting a new technology requires change and the impact of that change is much less noticeable which is rarely understood
- Fear of job loss – Another common concern of those resistant to RPA is the fear that robots will replace human workers, when its main purpose is to actually support humans in the workplace
- Technology standards – In the competition of RPA automations, very few of the available tools in the market have failed in the stability factor that resulted in the fear to change
As already mentioned above, it could be much easier and effective to employ machines that would do all the repetitive yet process critical work for us in a cheaper and better way.
There are already fully functional RPA systems in use, which can automatically complete any repetitive task a human being does, that too in smarter ways using cognitive technology. Due to huge benefits offered by RPA in terms of cost and operations management, a radical shift is expected to take place in business processes very soon.