5 Benefits of Robotic Process Automation
1) Efficiency gains
Not just in cost per transaction using Digital labor instead of human labor, but also lower cost to automate
2) Speed to market and operational agility
Ability to rapidly and safely automate new processes when responding to market dynamics. Improvements in operational latency
3) Accuracy and improvement in right-first-time processing
Many of today’s robots are transactional robots, rather than decision support robots. They self-validate and have complex exception management strategies. This is important, as the Robots have to be trusted to execute transactions accurately and reliably.
4) HR staff freed up to do higher value work
In HR we are seeing improvements in speed-to-service and right-first-time employee on-boarding and off-boarding. Improvements are driven through all stages of the HCM cycle where robots are being used to improve access and self-service. For instance, a large HRO has built an employee self-service portal powered by software robots that allow employees to change a whole host of their personal details (like healthcare provider and pension plan) without human intervention. Labor hours are being freed up for HR professionals to offer higher value services as the transactional part of their job (which is not a good use of human skills) is automated through RPA.
5) F&A controls virtual workforce
In F&A we are seeing a whole host of processes automated across the spectrum from P2P to R2R. Common benefits have been increased straight-through processing (STP) and automation of exceptions from ERP systems. The benefits are lower cost per transaction, improvements in accuracy and RFT processing, and local control. This is an important attribute of RPA in that captive shared services are now in control of their own Virtual Workforce, which they own and control – and they own the IP!
A very interesting trend at the moment is one where service providers are being required by customers to offer portable Automation IP at contract end. Of course, this is impossible with provider specific proprietary RPA technology (which is often basic scripting technology passed off as RPA).
Source: SSON spoke with BluePrism