10 Untold Benefits of Robotic Process Automation

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Businesses in the digital era are reaping the benefits of robotic process automation, which will increase employee productivity and replace manual repetitive tasks, enabling them to focus on more vital and innovative duties. RPA has been a hot topic among organizations in recent years because to its ability to perform repetitive tasks faster and with fewer errors than humans.

Some of the top benefits of robotic process automation are cost saving, improved business operations efficiencies, increased productivity, faster operations, reduced error, enhanced integration with legacy systems, and low technical barrier.

As we shall see later in this article, the benefits of robotic process automation are numerous, and it is an important piece of the intelligent automation puzzle which will ensure that processes are fully automated even if your organization uses legacy systems in its list of business applications.

In 5 years, at the current growth rate, the adoption of RPA will reach almost all companies that will use the technology in some way. In other words, the RPA will reach almost universal adoption sometime in 2023.

Source: Deloitte

According to a recent study, RPA can minimize labor-intensive jobs by as much as 80%. When it comes to completing work quickly and without errors, this readily integrated technology inside your digital ecosystem may make a big difference. One of the advantages of robotic process automation is that software robots are never tired and can accomplish as much work as is required.

The utilization of advanced technologies such as Artificial Intelligence and Machine Learning makes this technology powerful and easy for employees to utilize in recording their daily tasks and allowing robots to execute them.

In this article, we will go through the top ten benefits of robotic process automation and why they are important.

benefits of RPA

What is Robotic Process Automation?

In simple terms, RPA is the usage of computer programs known as software robots with advanced capabilities such as artificial intelligence & machine learning to automate manual and repetitive human activities based on business rules.

Organizations are constantly looking for new ways to increase efficiency and cut costs by digital transformation. The automation of internal systems is one of the most satisfying transformations.

RPA is one of these technologies consisting of software robots to execute tasks usually humans perform by interacting with different digital systems (e.g. ERP, CRM, and other applications).

I strongly recommend reading the below article for full in-depth explanation

What is Robotic Process Automation – RPA? The Complete Guide (theecmconsultant.com)

Top 10 Benefits of Robotic Process Automation

The benefits of robotic process automation are enormous. It can help organizations automate repetitive tasks, which can improve efficiency and reduce costs. In addition, RPA can improve security, system reliability, and compliance.

The top 10 benefits of robotic process automation are:

1- Cost saving

RPA can provide cost savings ranging from 20%–60% of baseline FTE costs for financial services

Source: EY

Among the top benefits of robotic process automation is the ability to save money on operational processes.

By automating previously manually completed repetitive tasks, RPA technology can help you minimize manpower while increasing process accuracy. This technology may be used to automate tasks such as data input, data migration from one system to another, report generation, and so on.

Automation will not displace employees, however, it is expected that 861,000 public sector jobs will be lost to automation by 2030 saving £17 billion off the public sector payments in 2030 compared to 2015.

Source: Deloitte State of the State report

Gartner predicts that by 2024, enterprises will have reduced operational expenses by 30% by integrating hyper-automation technology with improved operational processes.

A decent RPA program should have a minimum ROI of 12 months. According to a Deloitte report, the return on investment in RPA occurs most frequently in less than 12 months, with bots offering an average automation time of roughly 20% of the original process time.

2- Improved consistency

Taking advantage of the benefits of robotic process automation will help organization improve consistency in their business processes.

Routine tasks are carried out in the same way by software bots every time. This will ensure consistency each time the tasks are completed automatically and without mistake.

Consistency is essential for an empowered customer experience, which is important to the growth of any company.

3- Enhanced compliance

38% of managers report compliance improvements are the leading benefit of RPA and it is followed by improved productivity/performance 

Source: Nice

The ability to enhance compliance with different rules and regulations is considered among the top benefits of robotic process automation.

Bots strictly adhere to regulatory compliance regulations and give an audit trail history. In addition they enable access to and processing of confidential data without the intervention of humans, thus lowering the risk of data breach and disclosure.

Failure to follow crucial regulations imposed by laws or industry can cost your organization money in the form of fines, penalties, and litigation cases.

4- Increased productivity

Workers spend 4 hours and 38 minutes per week on average performing duplicate tasks that could be automated

Among the benefits of robotic process automation is the ability to increase employees productivity.

By using robotic process automation software robots to execute time-consuming tasks, employees can leverage the gained time to work on higher important projects and tasks that involve creativity and decision-making.

As a result, this will help organizations increase their ability to react to changes and new business opportunities.

RPA tools have the ability to move companies to the next level of productivity optimization. Don’t forget that robots can work anytime and take on vacation.

5- Low technical barrier

There is no lengthy learning curve that your employees must go through before they can begin configuring bots. To configure a bot, no programming skills are required. Their user-friendly programs make it simple to record manual tasks and customize them so that they may be conducted as needed.

6- Easy Integration with current ecosystem

One of the most huge benefits of robotic process automation is the simplicity with which RPA solutions may be integrated into your organization’s digital environment. To begin harnessing the power it delivers, no big infrastructure changes or the adoption of other digital platforms are required.

This was a major factor in the widespread adoption of RPA technology.

7- Flexible scalability

When the organization’s workload unexpectedly expands, more RPA robots may be simply and affordably installed. Configuring bots is significantly easier and faster than recruiting, onboarding, training, and deploying new employees.

Furthermore, when business slows, you may simply turn off robots rather than laying off workers and incurring the costs associated with this procedure.

8- Reduced errors

Machine and software robots are more accurate and less prone to mistake while doing repeated regular jobs than humans. They carry out our instructions with exceptional precision, delivering consistent results each time.

Allow them to complete these tedious activities in our place so that we may concentrate on more essential and innovative jobs.

9- Improved business operations

When business processes are completely automated, day-to-day operations run as smoothly as feasible. Improving overall company processes will help companies in increasing productivity, lowering expenses, and providing a better customer experience.

Organizations that wish to succeed and be highly competitive must automate their processes. One of the most huge benefits of robotic process automation is the expanded options it provides for process automation.

10- Better resource utilization

When you release your employees’ time from manual repetitive duties, they may be assigned to other jobs and initiatives that are critical to the organization’s success.

Furthermore, it helps them to improve their skill sets, which will assist the company both short and long term.

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