As businesses strive to gain competitive advantages through automation, RPA adoption has accelerated across a wide range of sectors. In this article, we will explore both the commercial and employee benefits of using RPA in businesses.
Top Benefits of RPA for Business
Increase Productivity
The primary benefit of RPA is higher productivity due to jobs being completed on time. Bots can operate 24/7 without breaks, allowing processes to run continuously for optimal throughput. RPA helps businesses to complete more work in less time and with fewer personnel by automating repetitive operations.
For example, Microsoft cites how RPA allows businesses to automate processes and tasks to save time otherwise spent on mundane activities. Similarly, RPA consulting firm 10xDS notes that RPA is a cost-effective solution that improves output quality by taking over routine work from human employees. Freed from repetitive tasks, employees can focus on more strategic work that leverages human skills and judgment.
Increase ROI
Companies may greatly increase the productivity and efficiency of their workforces by assigning repetitive, routine activities to software robots. For example, a leading global bank was able to reduce account opening time from 60 minutes to just 8 minutes by developing RPA bots to assist the process. This allowed the bank to on-board new customers faster while reassigning human employees to more strategic duties.
Without the high costs associated with expanding full-time employee headcounts, RPA provides a rapid ROI through cost takeout. Automation solves seasonal workload surges in a capital-efficient manner compared to temporary hiring. Over time, as more processes are automated, cumulative cost savings grow quarter over quarter. Many companies achieve ROI within 6-12 months after an initial RPA rollout. As maintenance costs for digital labor are much lower than for people, ROI continues compounding annually through sustained process optimization.
Boost Efficiency
RPA can boost workflow efficiency by increasing the speed and consistency of automated processes. For example, one logistics company was able to reduce invoice processing time from 30 minutes to just 2 minutes per document using RPA bots. This allowed the company to handle 5x the number of invoices with the same headcount. The predictable nature of RPA also ensures tasks are completed accurately according to established standard operating procedures, without human error or variation. For procedures requiring enormous volumes of transactions, strict compliance regulations, or those running round-the-clock, this offers a significant benefit.
Several utility companies have leveraged RPA to streamline meter reading workflows, extracting data from up to 10,000 customer statements per day digitally. Previously this operation involved manual data entry by human staff and could take over a week to complete. With automation, the same workflow is achieved daily with zero errors or delays. This predictable performance allows for seamless management of routine operations according to pre-set SLA timelines.
Improve Customer Experience
RPA can improve the customer service experience by ensuring that operations are efficient and operate smoothly. For example, a leading telecommunications company developed RPA bots to automate new customer onboarding and upgrade requests. This allowed the company to complete these tasks within just 30 minutes, down from several days previously required with manual handling. Customers benefited hugely from this accelerated responsiveness and consistency. According to surveys, customer satisfaction scores increased by 15% following the RPA implementation.
Another example is an insurance provider that was able to reduce claim processing time from 30 days to just 3 days by automating data extraction and validation tasks using RPA. This significantly enhanced the patient’s experience throughout a tough medical procedure.
Develop Actionable Business Insights
Automating repetitive data collection and aggregation tasks across multiple apps and databases allows RPA to consolidate vast amounts of accurate, consistent information into centralized dashboards and reports.
RPA generally aids in converting siloed data into strategic insight. For example, an automotive manufacturer implemented RPA bots to compile real-time production data from its shop floor equipment interfaces, customer relationship management systems, and upstream supply chain data into insightful daily performance management reports. This allowed management to identify inefficiencies, bottlenecks, and future capacity planning needs more objectively. The organization was able to make data-driven choices on capital expenditures, product price improvements, and targeted marketing efforts for greater competitiveness thanks to better insight into enterprise-wide KPIs.
Gain Higher Scalability
RPA delivers an ability to flexibly scale operations up or down in a highly cost-effective manner. For example, during its annual enrollment period, a large healthcare provider experienced workload fluctuations that required thousands of extra temporary staff. With RPA, the company was able to dynamically deploy additional digital workers within a few hours to handle surges, reducing the need for human hiring. Similarly, retailers use RPA bots to handle seasonal peaks in order processing and shipment packing.
As indicated by Microsoft and 10xDS, RPA’s applicability to varied processes means its use can scale both across different business functions as well as through continued expansion over time to take on rising work volumes in a future-proofed manner. This allows organizations to remain agile in meeting changing market demands.
Increase Employee Satisfaction
RPA can successfully raise employee morale and loyalty inside a company. For instance, a leading bank implemented RPA to automate basic data processing involved in mortgage applications. Customer service employees were now free to spend more interesting time helping clients through customized financing choices rather than filling out paperwork. A subsequent survey found that 88% of employees reported higher work satisfaction following the changes.
As Microsoft and 10xDS note, automation creates symbiotic human-robot partnerships where each excels at differentiated tasks. Relieved of soul-draining busy work, knowledge workers find their problem-solving-oriented roles more motivating. With better work experience, employee retention rates also increase, saving valuable time and costs associated with frequent new hiring and retraining. Overall, RPA cultivates a happier and more committed workforce.
Top Benefits of RPA for Employees
Reduce Stress
Performing repetitive, tedious tasks day after day can be stressful and lead to workplace burnout over time. RPA, on the other hand, strives to minimize the everyday workload constraints on people by automating mundane tasks. For example, a global delivery company automated the mapping and address verification steps for new customer orders using RPA. This saved each employee approximately 15-30 minutes per day that was spent on these repetitious activities.
By offloading these stress-inducing tasks to robots, workers reported having fewer mental distractions and felt more in control of their schedules. The time savings also allowed for better work-life integration as employees had more flexibility in completing other tasks according to their preferences each day.
Empower Job Scope
RPA enables staff to devote more of their time and expertise to more important tasks that benefit from human judgment and decision-making by automating repetitive manual operations. For example, a legal team automated document review using RPA, freeing up lawyers to work on complex contract negotiations rather than spending 30% of their time on basic document processing.
The attorneys were allowed to regularly learn new skills, such as data analytics and client consulting, thanks to this enhanced job. Some were able to transition into specialized legal advisor roles within 2 years of these changes. Generally speaking, automating lower-value work allows on-the-job learning, broadening a person’s talents and ultimately making employment more interesting and significant over time.
Gain Improved Work-Life Balance
Juggling job responsibilities with personal commitments outside work can often be challenging for employees. However, RPA aims to ease this imbalance by automating tasks that previously contributed to long work hours or weekend duties. For example, a marketing firm deployed RPA bots to handle after-hours social media monitoring and reporting functions. This allowed the digital marketing team to wrap up work each evening at a consistent time, rather than periodically working into the night. Employees reported less stress managing work-life blending, leading to higher morale. The project also noticed a 20% decrease in overtime costs as employees were able to better separate work from personal time through automation supporting their overall well-being.
Wrap-up
Automation is a trending concept in the fast-paced society. In addition to increasing employee productivity, it has the potential to transform businesses. And there are only a few of its advantages. Using it in your business will reveal more surprises. Try Octoparse RPA today, and make your business smarter!