Robotics Process Automation: The Big technological leap for mankind

There are umpteen applications of Robotics Process Automation across different businesses

For the past few decades organizations have been trying to get the perfect solution for flawless workforce productivity. This quest has lead them to pin their hopes on the revolutionary concept of digitized workforce which would catapult productivity, streamline back office operations, increase accuracy, reduce turnaround time and set new standards for industries across the globe.

Robotics Process Automation (RPA) is a big milestone in the way to get an automated and self reliable solution for getting work done in organizations. RPA has the capability to replace rule based task with minimal human inputs. RPA is also capable of optimizing operational costs, speed up the work process and eliminating errors. It also helps in linking business applications through workflow based connects in a non intrusive manner at the User Interface (UI) level.

RPA an intelligent alternate to human skills

There are umpteen applications of RPA across different businesses which include back office operations, basic administration, resolving financial and non financial requests of the consumers. Recently, NIIT technology clients in the banking and financial sector have witnessed a 70% reduction on the time spent for carrying out monetary transactions with minimal effort and easy work procedures, perhaps all this became possible due to the implementation of RPA.

As global markets witness a surge in the number of consumers, the pressure on human workforce is quite visible in the form of increased errors, training procedures and added costs of human resources. RPA is the most viable alternative to human workforce and is set to take over work processes in few years.

Organizations and individuals can enjoy numerous benefits of RPA which are constantly engaged in executing repeated tasks, decision making through complex algorithms, accessing multiple systems and tasks involving human interaction.

How RPA helps in easing work processes across industries?

RPA is easy to use and extremely fast in implementation, for example an IT automation project would require months to implement, whereas RPA can be implemented in few weeks and is much easy to learn and use. RPA can execute operations and tasks with much ease, flexibility and accuracy. It can capture data, send responses, interact with digital systems, create logs, acknowledge mails and analyze data.

The dynamism which RPA can show across various industries is as follows:

Travel and Transportation

The baseline of travel and transportation sector is to provide friendly and personalized experience to the consumer at the right time. RPA can help in enhancing efficiency and cutting down the costs involved in ticketing, cancellation, refunds, invoicing and scheduling changes.

Insurance   

The insurance sector has earlier utilized techniques like Six Sigma, lean methodologies and re engineering in order to increase efficiency and business growth. But still they have been bearing the blunt of lack of implementation of modern technologies, increasingly competitive environment and volume fluctuations. RPA can play a significant role in streamlining processes like policy endorsements, underwriting support and compliance checks.

Finance and banking

RPA if implemented in the banking and financial sector will help in reducing the work stress due to increasing competition, inaccurate reporting and workflow disconnects. RPA can be implemented in processes like fraud detection, accrual support, multiple data entry and data movement, mortgage approval, account reconciliation, report generation across systems, e-form extraction, credit note accounting entry, and processing credit cards.  

Media

With the humungous growth of media industry there has been a rising pressure to stay out of the league and cost effective. RPA can help in streamlining business operations within the media industry and also freeing up resources to focus more on building the digital business. RPA can be utilized in operations like ad order entry and ad booking, finance and accounting operations, database cleansing, high volume data entry, error review, and back-end automation.

Harnessing maximum benefits of RPA

RPA is taking the technology world by storm; perhaps, it is creating a new world where robots will have a complete control of work processes by having access to databases, communication resources, UIs, and cognitive computing powers. RPA solution providers are providing engagement platforms to develop a deep relation between the vendor and the RPA. This for sure will reap maximum benefits for the organizations which will rely on the capabilities of RPA to drive their business. One such engagement framework is NIIT Technologies’ TESS.

NIIT’s TESS: An end-to-end engagement framework

NIIT Technologies’ engagement framework is built on the pillars Transform, Enable, Standardize and Scale. NIIT believes that the RPA technology is moving from isolated robot deployment mode to centre of excellence mode (COE), where a consumer expects from an overall large scale value.

The framework provides tools, methodologies and domain experts which comes as a complete package in order to equip the client or consumer to avail the benefits of the COE model.

The core idea behind the NIIT framework is make sure that the client moves from the ‘Per Bot’ model to the ‘Gain Share’ model and thus maximize the benefits of RPA implementation.       

Conclusion

RPA is going to be a game changer in technology applications across all verticals. The prime reason behind this is machine oriented automation in place of human skill and efforts. RPA will not only save the necessary time and money but will also diversify skilled human workforce to take jobs which really require human thinking. Certainly, for enterprises across the globe RPA is the future.