There's a scene in "I, Robot," where Will Smith, rather arbitrarily, says: "Robots don't do anyone any good."
It turns out he was right.
Later in the movie, the robots malfunction, get cranky and take over the planet. There are similar premises in "Terminator," "Blade Runner," and "2001: A Space Odyssey." Techno-skepticism. Robot revolution. The end of humankind.
Hollywood's message is as clear as crystal: Don't screw with artificial intelligence.
Robots get a bad rap in the movies, but the reality is far less exciting. There will not be a robot uprising. Robots are not going to steal your job. Or your lunch. Or your kids.
Quite the opposite.
Robots won't supersede humans but support them, taking on business-critical functions in the modern workplace. Robotic Process Automation, or RPA, makes all this possible. It's a trend that's transforming the business landscape: 8 in 10 corporate execs have already implemented RPA, and another 16 percent plan to do so in the next three years.
In this post, learn why you should implement RPA too.
What is RPA?
RPA is a type of business process automation where robots execute rule-based administrative tasks such as data entry, data analytics, service support, predictive maintenance. Essentially all those repetitive tasks that you don't have time for — processing payroll, answering customer complaints, transferring data from one system to another, you name it.
The robots that facilitate all this automation aren't the robots you see in the movies. They don't look like R2-D2. Or Wall-E. These are software robots — or 'bots' — that carry out tasks in the background on computers. They copy data. Paste data. Process forms. Scrape the internet. Process customer orders.
These bots perform all the above without human intervention. So you don't need to code. Once up and running, machine learning and artificial intelligence take care of the rest.
What are the Main Benefits of RPA?
Bots are much faster at handling repetitive tasks than humans, so RPA brims with business benefits:
Reduced Costs
Research shows that RPA saves organizations up to 60 percent in costs. These savings aren't 'robots stealing jobs," but RPA creating new careers. While automation will make some administrative duties obsolete, employers can upskill the personnel who carry out these tasks and cultivate their new skills for business growth.
Fewer Errors
Simple data entry errors, such as accidentally adding a '0' to an invoice, have enormous ramifications for any business. Typical human error rates range from 0.55-3.6 percent, which means, at the very least, one in 20 data entries contains a mistake. RPA dramatically reduces human error, improving data quality across your organization.
Improved Data Compliance
Humans can be careless at times, but not robots. Using RPA processes to expedite data entry improves compliance with data governance frameworks like GDPR and CCPA. There's less chance of data ending up in the wrong place because of human error.
Better Business Insights
Robots extract and process data from almost any computer system — CRPs, ERPs, relational databases, legacy systems, and more. Manually extracting all this data is a chore, but RPA streamlines the entire process. The result? More data for more analytics. When robots collect data, you can perform real-time analysis that generates unparalleled business intelligence you won't find anywhere else.
Reduced Workloads
This is one of the best benefits of RPA. Robots won't replace humans, but they lighten the load by taking care of all those jobs your team doesn't want to do. (Boring repetitive administrative computer-based tasks.) Think of RPA as a personal digital assistant that makes life easier.
What Are Some Examples of RPA?
There are far too many RPA functions to list below, but here are some you need to know:
Manufacturing
RPA automates:
- Supply chain management
- Inventory management
- Production processes
Professional Services
RPA automates:
- Data collection
- Customer relationship management
- Back-office operations
Financial Services
RPA automates:
- Manual accounting/payroll tasks
- Invoice management
- Financial forecasts/analysis
- Customer credit monitoring
- Fraud prevention
How to Get Started With RPA
While most RPA requires no human intervention, implementation and deployment can be difficult if you don't have a roadmap. You need to configure and test RPA bots before automating rule-based tasks, and many IT leaders struggle with this process.
Enrolling in RDA's workshop is the best way to kick-start your RPA journey. You learn industry use cases, define the scope and impact of your RPA strategy, align requirements and evaluation criteria, and plan implementation and deployment. Fill in the form here to schedule your complimentary RPA workshop.
Final Word
Forget everything you've seen in the movies. Robots help humans, not hinder them. RPA will change your business by reducing costs, improving compliance, decreasing errors, lessening workloads, and generating powerful data insights. Are you ready for the robot revolution?
Sign up for a complimentary RPA workshop and learn the business benefits of RPA.
