What Are the Benefits of RPA for Businesses?

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The advent of RPA as a service has greatly simplified the task of business leaders. You no longer need to hire an entire development department on the staff. It is enough to attract specialists for project work. In this article, we will explain how does RPA work?

Introduction of new technologies into business

Benefits of RPA:

Reduced costs and faster work.
Increase in employee productivity.
Reducing the routine burden on employees and their development.
Identification of weaknesses in business processes.
Reduced human error.
Introduction of innovative technologies.
Optimization of human and production resources.
Increased customer satisfaction.

These were some of the most relevant benefits of automation in the workplace. There may be other pros based on the needs of each specific client.

Economical effect

The project implementation period can take from 2 months for small businesses. It often takes a year to fully automate a plant. Full payback after completion of the project starts from 6 months for small firms. Business owners see immediate economic impact. Unlimited scaling allows the technology to be implemented in both small firms and large corporations. You can test the system on small business processes. This allows managers to evaluate the effect of those managers who are hesitant and afraid to invest in automation.

Optimization is already widespread in the following industries:

Accounting (up to 20%);
Personnel management (up to 15%);
Tax accounting (up to 15%);
IT and other areas (up to 10%).

Areas of RPA application and real economic benefits

The most popular processes subject to automation are:

Personnel management.

Management of payments.
Recruitment of personnel.
Accounting for personnel changes in various systems.
Tracking of working hours and attendance.

Supply chain.

Management of TMZ.
Analysis of supply and demand.
Management of contracts and accounts.
Processing returns.

IT services.

Help-desk and access control.
Monitoring of systems.
Management of credentials and systems.
Management of systems through terminal access.

Accounting.

Reconciliation of paper and electronic versions of documents.
Document recognition (OCR).
Work with providers.
Payment processing.

The experience of companies using RPA

Robotization is widely used for data entry for hiring and invoicing for clients. Also, for several years now, the technology has been successfully implemented to perform accounting operations within the framework of the month-end closing. Robotization of the process of verification of insurance premiums and the search for job candidates is still less common due to the need for more detailed preparation. Also, in the latter case, the participation of the head is required at the last stage.

RPA implementation

Robotic process automation consulting is essential in order to properly plan an integrated approach.

Diagnostics of business processes:

Conducting interviews with process owners or business leaders.
Collecting information on business processes and conducting questionnaires.

Assessment of attractiveness:

Assessment of the attractiveness and applicability of robotization to business processes.
Selection of business processes for robotization.

Choice of implementation platform:

Analysis of platform criteria for robotization of selected business processes.
Development of a feasibility study / financial model of robotization based on the analysis of business processes and the cost of the chosen platform.

Roadmap for robotization:

Estimating the timing of the implementation of potential robotization initiatives.
Drawing up a resource plan.
Prioritizing proposed initiatives.
Development of a roadmap for the implementation of the proposed initiatives.