Robotic process automation might be a newer technological term for your company. While it may be unfamiliar, there isn’t any reason to fear what it can do for you. Automation itself is an outstanding tool that will improve productivity for you and your employees.
You can define RPA as any kind of software that automates overly repetitive tasks. Sometimes it’s known as software robotics due to its use of technologies like artificial intelligence to make the automation occur across applications.
Let’s take a look at these six major benefits of RPA:
1. Creates a Faster Workflow
No doubt you’ve experienced how human employees often make mistakes when pressured to do repetitive work. Tedious tasks in any job can also bore employees to a point where they feel unfulfilled in their jobs. This can only lead to a crisis point of excessive turnover.
Using RPA eliminates all those menial tasks and frees up your employees to work on things that are more important for your company. In turn, this creates faster workflows, something possible using the right RPA platform.
2. Eliminates Paperwork From Your Company
Are you still relying on paper to create and store documents? We all know by now that the use of paper is not the greatest for our environment. Beyond that, it’s easy to lose important information when you have thousands of documents you need to file away.
All those years of having to dig through file folders to find a paper document can end using RPA. Capacity will help your company automate every task so it goes into a digital database for easy retrieval.
What this does for creating a future knowledge base is also important. In this context, it means being able to have information available when it’s needed. When new hires come on board, they can rely on this information for answers to critical questions.
Looking ahead, though, other benefits exist beyond work efficiency and into the realm of finances and company profitability.
3. Better Long-Term ROI
The ROI of using this technology is exponential. You can look at it as a short-term and long-term investment thanks to the use of one particular type of technology: machine learning, or ML.
With ML, you’re allowing artificial intelligence to learn over time based on the information it’s given. Data may come from chat inquiries, or simply by entering information into documents.
You’ll start to see the ROI benefits of automating all those monotonous tasks your employees used to do instantly, and the results will continue to get better over time. Your team members will have more time to focus on ways to make your company more profitable, and you’ll notice a difference in your financial reports.
Allow some time to let machine learning assimilate your company’s work habits, and then see how much money you can save throughout the rest of the year and beyond.
4. Simplifies Training Processes
A knowledge base is essential to keeping employees in the loop about constantly evolving information. Policy guidelines in HR, for example, are constantly changing, making RPA a necessary tool to keep things stored digitally and continually updated.
For training, RPA becomes all the more useful thanks to providing information to new hires when they need questions answered fast. Training new team members takes considerable time and resources that often result in productivity slowdowns.
The use of RPA in this area means AI can take over and train new hires much of the time. From the support end, this is good for them so they aren’t bombarded with questions every time you expand your team.
In turn, it means RPA and AI working together as a powerful new technological combination. Capacity is already leading the way of the future for companies around the world.
5. Keeps Up On Changing Regulations
Your company may be one constantly trying to keep up with new regulations every year. Highly regulated industries once took on many of the above tasks manually, leading to substantial mistakes and fines. The financial industry is already facing higher regulatory costs by next year unless they take on digital transformation.
RPA is available now to help industries like this stay on top of regulations as they evolve. Capacity’s platform is able to take that information and turn it into “Guided Conversations” so anyone can find answers to regulatory changes through chatbots or while using specific business apps.
Your employees will save time when they no longer have to manually research new regulations. AI is now smarter than ever and easy to use.
6. Grows the Talents of Your Valuable Employees
Taking your employees away from mundane tasks has likely been a dream of yours for years. Now RPA makes that dream come true and also enhances your visions of bringing real innovation.
True innovation requires time for employees to focus. Bogging them down with menial tasks only stifles creativity.
Regardless, this doesn’t mean you’ll have to rely on artificial intelligence for everything. Instead, you can use Human in the Loop technology to route employees (or customers) to a human when AI can’t answer a particular question.
The value of humans is ultimately taken to a new level when employees can focus on innovation as well as tasks that require critical thinking.