In today’s fast-changing technology environment there are competing ideas, products and technologies that make it difficult to understand the benefits a solution addresses.
So, the lack of awareness around robotic process automation (RPA) isn’t that surprising.
But the technology itself is simple to understand. RPA mimics the actions of your most consistent and detail-obsessed employees – and at a fraction of the cost – for repetitive activities.
There are so many benefits of the technology that every company with repetitive tasks today needs to have it on their radar. Here are a few practical examples to give you food for thought.
- Supply chain processes: These involve high volumes of structured data (rather than incoming free text emails) and a flow of ‘if/then actions’ to process data for later use. These qualities make them well suited to algorithm-based RPA.
- Comparison of one data set to another.
- Procurement is a good candidate due to a high repetition. Spend compliance, vendor rationalisation and warranty cost reduction are all juicy targets.
- Planning, inventory and order management functions are also prime candidates. RPA can easily automate the creation of high-volume, critical (yet mundane) metrics, such as inventory turns and forecast accuracy while managing order diagnoses and disputes or tracking order complaint management.
- Logistics can drive down transportation costs by tracking, comparing, auditing, and analysing data that would require hours of employee time filtering and making pivot tables. RPA can do these tasks reliably and with ease 24/7.
RPA is fast emerging as a key differentiator for business in all sectors. Organisations that deploy the technology will benefit from lower costs, more accurate results and an engaged workforce that’s focused on higher-value tasks to improve business performance. Those that don’t run the risk of being left behind.
Make sure that your company is at the vanguard of this exciting new development.