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Summary: Most businesses run their boat in the “overburdened sea” which doesn’t allow them to utilize their resources to their full potential. But with the implementation of RPA, they can automate their labor-intensive tasks and free up their resources to focus on value-based tasks. Let’s dive deep into this practical guide and know how RPA can enhance your business efficiency and thrive in the automation landscape.
Thinking how you can streamline your business operations and improve their efficiency in today’s digital age?
Does your business boat sail in an “overburdened sea” and are you worried about how to reach the right destination?
You are not alone! Many conventional businesses sail in this boat.
But, no worries!! To make your business boat free from overburdened tasks, RPA implementation can be a perfect solution!!
Not convinced that RPA can make your business strive in the business landscape?
Let’s look at some of the RPA statistics:
- 53% of businesses already kickstart their RPA journey.
- RPA has the capability to reduce 80% of labor-intensive tasks.
- In the next five years, “global adoption” has been accomplished by RPA.
Let’s dive deeper and understand how RPA implementation help businesses unlock their full potential. But before that, here are some fundamentals that you should know about RPA:
What is Robotic Process Automation (RPA)?
It is a new-age technology that enables businesses to handle labor-intensive, high-volume, and repetitive tasks. RPA leverages the capabilities of machine learning and artificial intelligence to automate business processes and workflows, allowing businesses to avail themselves of many lucrative benefits.
The global market size of RPA in 2019 was $1.40 billion and it is expected to grow by $11 billion by the year 2027.
Is RPA Implementation Meet Business Expectations?
One common question that buzzes every business owner’s mind is whether the implementation of RPA can really help them meet their expectations.
Although different business owners have different doubts regarding RPA, which does not allow them to welcome this one of the fastest-growing technology.
Here are some of the expectations that business owners have:
Expectation 1: No-code RPA
The implementation of no-code RPA can help businesses streamline their processes and efficiently use resources without having any programming skills.
Expectation 2: Simplified process
RPA solution facilitates businesses by simplifying the overall processes by leveraging RPA’s process mining and auto extraction process.
Expectation 3: Expanded capabilities
With the expanded capabilities, it would be easy for businesses to develop more advanced and versatile bots that can perform rule-based tasks and improve overall business efficiency.
[ Also Read: The Game-Changing Potential of RPA in the BPO Industry ]
Business Challenges in the Implementation of RPA Technology
Before heading towards the RPA journey, businesses need to evaluate whether RPA technology can be a good fit for their businesses or not. For this reason, they need to understand their business challenges and how RPA helps to overcome those challenges. Some of the common RPA challenges are listed below:
|Challenge 1||Technological||The organization must have the right skills, technology, and tools to incorporate the digital workforce. Even some organizations face issues such as data privacy and cyber security.|
|Challenge 2||Process standardization||RPA is an automation solution that works best for standardized and well-structured processes. If workflows and processes are inconsistent in any organization, it becomes difficult to harness RPA.|
|Challenge 3||Compliance||The organization must ensure that all regulatory compliance is monitored and managed. The IT team and the organization need to collaborate and proactively give the necessary updates to the RPA support team so that they can make the necessary changes in the production environment.|
|Challenge 4||Organizational||While implementing RPA in an organization, some barriers include resources, talented professionals, and changing management, which can disrupt the processes and make it difficult for the organization to prioritize RPA.|
7 Practical Steps for RPA Implementation
There are several benefits to incorporating RPA in an organization. It provides a well-structured RPA implementation approach so the organization achieves the right results and takes its business to a new horizon.
Step 1: Discovery & Planning
- The primary stage is to understand the business requirements and know the competitors and the business expectations.
- Deploy a successful RPA system; a business needs a clear and comprehensive business plan.
- It ensures that the final output will align with the business expectations and also help an organization fully leverage the advantage of RPA technology.
Step 2: Unleash potential opportunities
In the step of implementation of RPA, a business needs to understand how automation helps them to unlock potential opportunities.
- The primary focus should be on 3 key factors.
- The volume of data: An organization should evaluate the flow of input and output volume and which process must be automated. For instance, if there are large chunks of data, RPA can save tons of time and boost efficiency.
- Standardization: if an organization changes the process frequently, or there are many variations involved in a certain process, it becomes difficult to implement rap as it is meant to work efficiently in the case of standardized processes.
- Potential RPA benefits: it is a stage in which all the potential benefits should be considered during RPA implementation.
- Other factors that can be considered include data security, scalability, and cyber security.
Step 3: Developing POC (proof of concept)
- This is a step in which the idea for the concept can be validated or checked whether they can provide the best results or not before investing the resources in its implementation.
- In this process, the entire focus is on the key elements instead of working on the complete process.
- It can also define whether the RPA tool can execute that idea or not.
Step 4: Deploy a pilot
- Once the concept of proof has been validated, the next step is to deploy a pilot for further RPA implementation testing.
- This step can minimize deployment inefficiencies and test the software’s capability.
- Performance measuring has been initialized in which traditional or manual processes can be compared with the RPA bots to evaluate the efficiencies.
- After analyzing the results, modifications must be done before moving forward with the RPA implementation.
Step 5: Streamline Resources
- In this step, an organization can streamline its resources and project teams.
- It ensures the responsibilities are perfectly in sync with the business goals to avoid confusion.
- Considering the employees’ suggestions can help organizations prepare a well-structured strategy.
- An organization can run training programs so employees can understand its working and execute the RPA technology well.
Step 6: Creating an implementation plan
- A detailed strategy and well-executed implementation plan will be developed to match the desired results.
- This plan can incorporate an entire team, including staff, RPA developers, project managers, and business analysts for successful RPA implementation.
- Establish KPIs to track the process to understand whether or not the RPA system is aligned with the business goals.
Step 7: Run the bots & monitor them.
This is the final step in which the bots can operate and monitor. It gives a detailed overview of the bot’s performance and operating efficiency.
[ Also Read: RPA in Real Estate: Benefits, Use Cases and Applications ]
Factors Considered When Choosing the RPA Vendor
Here are some key factors that can be considered for choosing the right vendor
- Deployment cost and time
Deploying the bots can take a considerable amount and time. Choose the right vendor to deploy bots at competitive pricing with reduced turnaround time.
- Technical expertise
It’s important to verify the technical expertise along with administrative credentials to ensure you get the right RPA implementation solution.
- Data privacy and confidentiality
Data privacy and security is something that no company can ignore it. Therefore, it is crucial to know the vendor’s data encryption and confidentiality provisions.
- Handle complexity
The vendor you can consider for RPA implementation should be well-versed in developing bots that can handle complex processes and transactions.
Six Incredible Benefits of RPA Implementation
Although there are numerous benefits of RPA implementation. Some incredible benefits are listed below:
- Enhanced productivity
An RPA can automate rule-based and mundane tasks, allowing the organization to work more on value-based tasks. Even the statistics show that an organization can improve its productivity by 27% with the implementation of RPA.
- Cost savings
RPA can potentially minimize operational costs by reducing errors, increasing efficiency, and reducing manual labor. According to the Institute of RPA, software bots can reduce costs less than manual labor, such as 1 one-fifth of onshore workers’ costs and one-third of Offshore workers’ costs.
- Enhanced customer experience
RPA automation can accelerate accuracy along with response time which leads to exceptional customer satisfaction.
- Improved compliance
RPA can work on predefined rules, so it would be easy to program the bots with specific guidelines that can follow all the legal processes and regulations, which leads to enhance complaints. An organization can improve its compliance management by 38% by leveraging the RPA implementation.
The intuitive quality of RPA is that it is compatible with almost all software systems. It can seamlessly mimic human actions without any need to change the entire code. This can make businesses highly flexible and adaptable to the latest market trends.
- Data insights
Implementation of RPA provides valuable data insights that enable organizations to streamline their processes identify process bottlenecks recommend how to optimize those processes. RPA can offer different types of data insights-
- Cycle Times: It reflects the time taken to complete the process and gives insights about the steps that lead to those delays.
- Resource utilization: It indicates how much time the employees can take to complete a dedicated task and suggests areas of improvement. This way, it can track resource utilization.
- Error rates: It provides the data that help organizations scrutinize which processes are prone to errors and need urgent attention.
Conclusion: Let’s Reinvent the Business Wheel!
It might be interesting to know that the technology Giants, including IBM, Google, and Microsoft, are harnessing the RPA ecosystem. Even they partner with or acquire RPA service providers, as these companies have seen a promising future for RPA technology.
Wondering how you can move forward with automation and accelerate your digital journey? You have reached the right place. LeadMuster RPA managed services help you successfully implement RPA while leveraging complete automation power.
Why do businesses need to implement RPA?
RPA has the capability to make the process less prone to errors and increase efficiency by automatically the human-intensive task with bots. This can reduce the overall staffing cost.
What are the real-life use cases of RPA?
Implementation of RPA can be done in many projects, including
– Data migration
– Sales and marketing process
– Onboarding employees
– Legal process
– Call Centre operations
– Web scraping
– CRM upgrading
What are the best tools that can be utilized for RPA implementation?
Some of the best RPA tools are listed below:
– Automation Anywhere
– Blue Prism