The future of Business with RPA

 

Introduction

Robotic Process Automation (RPA) is the automation of processes that relieves employees from repetitive tasks allowing them to work on much human intelligence demanding tasks. It is an emerging technology in the field of computer science, information technology, electronics and communication, mechanical engineering, and manufacturing which is drawing much attention from corporations in recent times. It is the combination of hardware, software, and several communication networks to automate complex business processes.

RPA systems can do tasks with twice or thrice efficiency when compared to human labor, they are easy to design and the programming is not complex as the typical programming languages and it is non-intrusive, depending on the existing frameworks. It is transforming the way organizations work or operate, streamlining once manual processes and reducing the burden on human employees.

Business applications of RPA

RPA technology communicates with business systems and applications to increase productivity by leveraging a scalable digital workforce. It finds application in various business functions and industries like Human Resources, Auditing, Data governance and security, healthcare, telecom, banking, automobiles, aviation, supply chain management, etc.

RPA in Human Resources

RPA can be used in simplifying all major HR functions like recruitment, onboarding, employee data management, payroll processing, training and development, and employee exit management. The initial step of recruitment is resume screening which is highly time-consuming when done manually. The use of the RPA system i.e., the Applicant tracking systems can scan several such resumes in minimum time using job matching features which will filter out candidates who are suitable for the current job requirements and by activating an automated template for the user account's onboarding workflow, RPA can expedite the entire onboarding process. By using Human Resource information systems, sensitive data of employees can be stored and maintained easily which also helps in employee performance and incentives management, and payroll methodology or processing. These systems have made the lives of HR professionals much easier in recent times.

 

RPA in data governance and security

Data security has become a crucial component of any business infrastructure with the addition of the latest technologies, programs, and networks to business and robotic process automation is one such technological solution that is being embraced by organizations around the globe. As RPA systems are deployed to improve the efficiency and correctness or accuracy of business processes, they should have access to a plethora of confidential business and personal data which comes with the accountability of data security, but with the hybridization of RPA and AI automation, the cyber security threats can be minimized with enhanced data security.

 

RPA in Healthcare

Most of the healthcare industry leaders are now interested in RPA systems as they can reduce administration costs, efficiently increase the speed of patients data processing, and improve the accuracy of outcomes as the healthcare sector involves a humongous amount of data storage and channeling along with first-line patient calls, query solving on the websites which no longer require human intelligence. This will considerably improve the efficiency of the staff along with improved patient satisfaction and timely service provision.

RPA in Auditing

The typical auditing processes are time-consuming and labor-intensive. The commercial audit analytics software and RPA systems can automatically conduct pre-defined audit activities which will free up the time of auditors to take up the high-level task which demands professional judgment such as conflicting evidence analysis and according to the recent survey auditing results of RPA systems are found to be of 99.9% accuracy.

 

RPA in the Aviation industry

At present, RPA is used for revenue management using automated auditing software which simplifies the filing process of Passenger Revenue Accounting (PRA), Cargo Revenue Accounting (CRA), taxes, and employee payrolls. The trend toward contactless passenger experience at airports has been researched for years and the post-COVID-19 pandemic scenario has accelerated the use of contactless check-in and onboard assistance and Etihad airlines are the pioneer in testing 100% automated contactless service mechanism in April 2020. Researchers across the globe are now building autopilot systems based on machine learning and RPA which can easily switch between time zones and this will help the pilots avoid illnesses due to changes in time zone and climate over time.

Conclusion

The connection between technology and humans must evolve for the better in the future and RPA offers a clear path to higher business prospects and optimization across businesses. Every technology has its pros and cons and RPA provides value but limits transformation due to the bots' access requirements to a humongous amount of highly confidential data and high development and maintenance costs. But with time and advancing technologies, these minor inefficiencies can be rectified. With a growing number of business models embracing automation, it will only be a matter of time before the majority of organizations recognize the value of RPA technology in lowering costs, increasing efficiency, and enhancing the overall quality of various products and services and ultimately the entire business process.