What is RPA?

“The key driver for RPA projects is their ability to improve process quality, speed, and productivity, each of which is increasingly important as organizations try to meet the demands of cost reduction during COVID-19,” said Fabrizio Biscotti, research vice president at Gartner.

If you've been around RPA for a while you might acknowledge that RPA (Robotic process automation) is best implemented to manual, repetitive actions that a human would otherwise complete with a computer. According to Gartner's study in 2019, found that the average amount of avoidable rework in accounting departments can take up to 30% of a full-time employee’s overall time. This also means deploying RPA has saved the finance department 25,000 hours annually at $878,000 for a company with 40 full-time accounting staff. This quite fascinating isn't it?!?

RPA all across industries

For the past years, RPA has been adapted to cross-company functions such as Finance and accounting, human resources, logistics and has become a norm across multiple industries. AIIM 2020’s study shows that key RPA process targets are Logistic 34%, HR 29%, and finance 28% so, we’ve collected some use case in some of the industries to give you a better aspect of the benefit from adapted RPA, for example

BFSI or Banking, Finance service, and insurance application is the leader of RPA adoption in 2019 according to Grand View Research with a 29% share of the global revenue. These are some of the use cases:

• Insurance is one of the industries that generally known for a high volume of repetitive tasks from claims processing through to updates to underwriting and payouts. Some of the companies realize they should invest in digital transformation. For example,

  • Claim Data Management: Bots automated claim data collection, analysis, and validation. With successfully implemented RPA had increase customer satisfaction, reduce turn-around time from claim intake to payment and also reduce manual.

  • Application & Underwriting Process: Bots automated the entire e-application process for future and existing policyholders. This has benefited them to deliver quicker turn-around and higher quote-to-close ratio and also Increased cross-product sales leading to increased revenue.

All the above use cases are provided by Automation Anywhere, one of the leading RPA platforms recently awarded as a leader in Gartner Magic Quadrant for RPA 2020. Now, you may wonder who is Automation Anywhere? I believe this blog about Automation Anywhere will have all answers to your curiosity.

RPA is not a human replacement but a digital workforce

A digital workforce that could do the task alongside humans, will increase employee productivity and enhance employees’ efficiency to deliver more impactful work to the organization. You can check for more idea on how RPA significantly improve your day to day process from the video below specifically in HR operation.

We’re more than happy to help you automate!

For more in-depth about HR automation and other function, or to explore more RPA capability, feel free to reach out to our team from the contact details provided below. We're excited to hear more about your digital transformation story!