About the Speaker: -
Mr. Abhinav Sabharwal conducted this session on “Robotic Process Automation”. He is serving as Sr. Business Analyst at RPA Infotech India Pvt Ltd. He is passionate about helping people to learn RPA skills. He has 13 years of overall experience in various domains like supply chain management, transport management, CRM &ERP implementation. He is well versed with various SDLC methodologies like waterfall, agile.
What is RPA: -
- RPA is a software technique that makes it simple to create, deploy, and manage software robots that mimic human movements while dealing with digital systems and software.
- Software robots can interpret what's on a screen, type the correct keystrokes, traverse systems, locate and extract data, and do a wide range of predetermined operations, just like people.
- Software robots, on the other hand, can do it faster and more consistently than humans, without having to stand up and stretch or take a coffee break.
- We can also say that, RPA technology mimics a human worker like logging into applications , entering the data , calculating and completing tasks and logging out.
Business Benefits of RPA?
- Organizations become more lucrative, flexible, and responsive as a result of robotic process automation. It also boosts employee satisfaction, engagement, and productivity by removing tedious chores from their daily routines.
- RPA is non-intrusive and may be applied quickly to speed up digital transformation. It's also great for automating operations with legacy systems that don't even have APIs, virtual desktop infrastructures (VDIs), or database access.
- Accelerated transformation
- Major cost savings
- Greater resilience
- Higher accuracy
- Improved compliance
- Boosted productivity
- More value from personnel
- Happier employees
Why RPA is transformative: -
- RPA technology is transforming the way people operate around the world.
- Logging into applications and systems, transferring files and folders, extracting, copying, and inserting data, filling in forms, and generating routine analysis and reports are all tasks that software robots execute instead of people.
- Powerful robots can even execute cognitive tasks such as deciphering language, participating in chats and conversations, comprehending unstructured data, and making complicated decisions using advanced machine learning models.
- Humans are freed to focus on the things they do best and enjoy more when robots perform these types of repetitive, high-volume tasks: developing, collaborating, producing, and interacting with customers. Businesses benefit as well, with increased production, efficiency, and resilience. I
- t's no surprise that RPA is changing the way we work.
- Important features & capabilities: -
- To create and manage an enterprise-wide RPA Programme, you need technology that can do more than just automate a single process.
- You require a platform that can assist you in creating and managing a new enterprise-wide capability as well as assisting you in becoming a fully automated enterprise.
- Your RPA technology must support you from start to finish, from identifying great automation opportunities everywhere to quickly building high-performance robots and managing thousands of automated workflows.
- Following are the parameters responsible for the “Why is RPA the fastest-growing enterprise software in the world?”
- Rapid, significant return on investment (ROI)
- Minimal upfront investment
- No disruption to underlying systems
- Low-code build environment
- Scalable and enterprise-ready
- RPA can assist many different industries in addressing their specific operational issues in novel and powerful ways.
- RPA improves many processes, yielding higher capacity, faster throughput, and fewer errors for key processes, according to leaders in functional areas ranging from finance to customer service to marketing to human resources and beyond.
- From the perspective of a CFO, an investment in RPA technology yields rapid ROI and requires minimal upfront investment when compared to other enterprise technology.
- RPA, according to IT executives, can be implemented with minimal disruption. RPA has also become a key enabler for digital transformation because software robots can easily access and work within legacy systems. Furthermore, modern RPA technology provides scalable, enterprise-ready platforms.
- Employees find it simple to integrate robotic assistants into their workdays, and RPA's low-code approach enables them to become citizen developers capable of creating their own simple automations.
- RPA in various industries: -
- Payment processing: A significant RPA in healthcare case studies evolves in the payment department of RCM facilities. Hospitals can automate payment processing to reduce staff workload.
- Claims management: Insurance claims management frequently entangles patients and hospitals. RPA software bots can automate claims management by collecting claims data using predefined parameters.
- Patient registration: Patient registration, which takes a long time, is one of the best RPA trends in healthcare. RPA bots can quickly fill in the details and prepare the patient registration form.
Manufacturing Industry: -
- Administration and reporting: One of the primary advantages of RPA in manufacturing is its ability to generate accurate production reports and present a clear picture of the status. It allows for more effective decision-making and a faster response to production needs.
- Inventory management: RPA in inventory management can be used to automate emails, digitize paperwork, and monitor inventory levels and product demand.
- Bills of material: – RPA case studies in manufacturing demonstrate how software bots can automate bills of material by extracting data and ensuring data accuracy, resulting in fewer errors and transactional issues.
- Account verification: Telecom companies must perform an account verification on users who choose postpaid accounts. It necessitates the manual processing of documentation.
- Report generation: Operators must manually generate and send reports on connectivity issues based on severity to executives. RPA is the best tool for automating report generation.
- RPA bots can receive emails from users and other stakeholders and automatically forward them to the appropriate people based on a few parameters.
- Customer number porting is one of the best robotic process automation examples in telecom, as it is a simple process that can be automated.
Banking and Finance: -
- Credit Checks: RPA software bots can now run credit checks on loan prospects to determine whether or not they meet the loan disbursement parameters. It has significantly reduced loan processing time.
- Data entry: Bankers were required to manually enter customer information from documents. RPA bots can automatically fill data into forms by extracting it from documents using document scraping.
- Review applications: Companies such as United Overseas Bank automated their credit card application review process, increasing speed and response time.
- Onboarding of new customers: Another excellent application of Robotic Process Automation in banking is account opening and customer onboarding, which is a time-consuming process that can be automated.
Retail Industry: -
- Product categorization: RPA bots can extract SKU data to assist businesses in categorizing products and determining market share in various regions. It will allow you to save countless hours of work.
- Product returns: Returning a product necessitates a great deal of paperwork and formalities. RPA bots make it possible to check the purchase record and speed up the entire return process.
- Inventory management: It is yet another excellent RPA case study in retail. Robotic Process Automation bots can provide key item data and alert the system if there is a shortage or overflow.
Administration Processes: -
- Invoice processing: RPA can be used to automate paper-based invoices via OCR, extract data, and send it to the appropriate stakeholders. Speak with our RPA experts for the best invoice automation services.
- Data input: Probably the most common robotic process automation use case, RPA allows businesses to quickly input data into excel or CRM, reducing processing time.
- Storing customer information: RPA software bots can easily store and present customer information from the initial forms that they fill.