RPA: Which industries is this technology having an impact on?

In .Consumer Products & Retail, .Financial Services, .Natural Resources, .Software, Blogfest-en, Uncategorized by Baufest

In the context of the Fourth Industrial Revolution, all industries must tend to bring in automation technological solutions.

Tuesday 18 - August - 2020

In this sense, there are processes which can be automated such as administrative, operating and back office processes, as well as those related to interaction with clients, just to mention a few. This is how collaborators can devote themselves to more valuable activities with the aim of increasing productivity, innovation capacity and efficiency, among others.

This way, lots of companies are bringing in robotic process automation. This is software automation with artificial intelligence so that collaborators do not need to carry out manual repetitive tasks.  Among other characteristics, bringing in process automation allows it to be deployed without the need to make important changes in critical technological services in companies. Besides, it can be quickly and easily brought in, while there is proof that it provides measurable and immediate results.  

It is very popular nowadays to bring in RPA as bots for customer service. This avoids the need to hire staff, reduces the amount of human error and allows the collection of data from all real time interactions to make more assertive decisions. These chatbots work 24/7 and can simultaneously tend to several customers, in all the desired languages. 

Among others, with RPA software firms can work with data from beginning to end, including automatic data collection, processing, analysis and storage. Besides, this technology allows them to carry out marketing campaigns which are integrated in the CRM, and make quick progress with the development of financial reports. Given its advantages, there are studies, like the one by consultancy firm Deloitte, which can accurately determine RPA efficiency percentages. In turn, according to an international report, the size of the global RPA market was valued in 1.1 billion in 2019 and it is expected to witness a 33.6% growth between 2020 and 2027. Even IDC consultancy firm anticipated that the global RPA software market will grow at a compound annual rate of 49.3% during the 2017-2020 period, and this last year it will reach a USD 3.7 billion level. 

Use cases

As mentioned above, it is possible to bring robotic process automation in any industry and in countless tasks in several areas; for instance, it has great applicability potential in human resources management, finance and supply chain processes, as well as interactions with clients. It is also applicable in oil & gas industries connected to the exploration and production of wells and the integration of industrial automation, operating reports, optimized compliance with and performance of drilling, etc.

Meanwhile, in retail, RPA is useful to create connection channels among provider applications and applications of the business itself. Likewise, it is also useful to have complete audits with real time information, helping retailers and providers. It can also be used in the health area, this being one of the most demanding industries, since medical assistance benefits from the RPA technology in tasks like patient appointment scheduling, claims processing, data entry and invoicing. For its part, the bank & insurance area turns to these technological services to optimize claims processing, while public services organizations turn to them to replace time-consuming regulating reports. 

RPA benefits

Automation software has numerous clear advantages, among which we can mention:

  • Increase in productivity.
  • Reduction of human error.
  • Improvement of collaborators satisfaction, since they do not need to carry out repetitive tasks.
  • Alarm system for early detection of problems.
  • Cost-saving.

All industries may become more efficient when using RPA in processes. All of this in a quick simple way, with measurable results in the short term.

Is there any process which could be automated in your company? We would love to know, so here is a space for you to comment on your doubts!