Robotic Process Automation
According to a study by McKinsey and Company, businesses that implement RPA – or robotic process automation – see a return on investment between 30 and 200 percent in just the first year.
RPA removes those easily defined, mundane, repetitive tasks from the workflow of your back office knowledge workers, and assigns them to robust programs that mimic human activity instead.
Financial returns on RPA result from two related – but different – business impacts. Initially, RPA allows for the completion of routine tasks with clearly defined inputs and processes with greater accuracy and in less time. RPA does not need a “brain break” to continue with tasks humans view as boring and monotonous. As a result, there are both reduced error rates and faster completion times, resulting in lower administrative and quality costs.
Additionally, by removing those routine, repetitive and boring tasks from your employees, you free them up to do higher value work that requires human judgment, emotional intelligence and interpersonal communication skills – the very things at which they excel. This work is often more engaging and less easily defined by predetermined protocols. By making such a transition, you get better employee attention, effort and retention, leading to better business results.
Not all tasks are suitable for RPA. The ones most successfully converted to some degree of automation contain the following characteristics:
• The process is repeatable
• The process requires consistency
• The process requires accuracy and subsequent error checking
• The process uses structured data which is easily sortable
• The process is rules based
Examples of successful RPA projects in the business environment include:
• Financial Services: trade capture, break check, validation, valuation and customer onboarding
• Human Resources: frictionless employee process, payroll, and IT provisioning.
• Accounts Payable: vendor enrollment, invoice submission, e-payments to vendors
• IT Support: user query response (ie: password resets), task monitoring (detection of system anomalies, automatic ticket creation for detected issues, automated simple fixes), simple maintenance tasks, notification of detected issues and fraud detection
SRI Infotech has extensive experience helping global corporations transition to automated processes in general, and in the use of RPA platforms UiPath and Appian. Our certified technicians can assist with planning, programming, implementation and maintenance, while also providing excellent customer care. With SRI you get the professional capabilities of a large consulting firm with the personal touch of a boutique. All at a fraction of the cost of the typical cost.
Contact us today to learn how SRI can assist you with your robotic process automation project.