Faster Implementations of BOTs for Business Processes in 2021

The COVID-19 pandemic has led to more and more businesses implementing digital transformation to revolutionize their customer communication systems and augment internal processes. Artificial Intelligence (AI) is playing a fundamental role in 2021 as it is being adopted by large-scale as well as small businesses and enterprises. Many businesses across industries are planning to adopt or have already adopted a digital-first business strategy for growth and scale.

With the implementation of any new technology, it takes a while for businesses to truly accrue its benefits. With Robotic Process Automation (RPA), software users develop software robots, or "bots", that can learn, imitate, and then execute algorithm-based business processes thereby creating a systematic structure and reducing errors. RPA automation allows users or companies to develop bots by capturing monotonous human actions.

RPA can support in bringing about digital transformation in the areas of operational efficiency and consumer engagement by automating a huge amount of business processes.RPA software bots also can interact and coordinate with any application the same way humans do—except that RPA bots can operate 24*7, nonstop, much faster, and with 100% reliability and precision thereby minimizing errors.

RPA can assist in keeping business processes up-to-date and service levels buoyant. RPA which is also referred to as smart or intelligent automation refers fundamentally to advanced technology that can be programmed to perform multiple tasks, such as collating data, generating responses, and establishing suitable contact with other processes and systems that formerly needed human interaction. Additionally, Robotic Process Automation (RPA) can be deployed in different businesses and divisions to automate various procedures, such as onboarding, payroll processing, order processing, data management, and report aggregation. For example, for various business deals or for even onboarding a new employee, digital signing can come in handy, especially in such times.

A sudden increase in the implementation of bots (that lead to faster RPA) in business processes!

As companies prepare for a Covid free world, RPA is playing a vital role in refining productivity, upholding efficient workflows, and supporting customer-facing activities. Automated bots can scale easily within process frameworks and reduce errors in no time. It is the most flexible way to accomplish repetitive, manual tasks usually performed by people, and assigning more value-added work.

Besides, as companies will hopefully later in the year or early next year get back to a normal working environment, they will need ways to manage the backlog of work caused due to the pandemic-driven workforce reductions. RPA bots can accelerate the setup and adoption of new working models and serve as a support infrastructure for the growing number of employees working from home. Bots from RPA implementations have privileged access to data sources and can mine and deploy that data to employees which might not have the ability (or authority) to access it. It is a safer way to lessen data breaches and eradicate compliance and audit apprehensions.

Benefits of using faster BOTs (leading to faster RPA) implementation for business can help in the following manner

1. Cost Savings

Since it's highly automated, RPA increases the quantity and quality of work executed, giving human resources time to focus on direct customer contact and accomplish work that needs more attention.

2. Speed and Productivity

RPA reduces the time necessary to complete manual tasks by orders of magnitude, which has been of grave importance during the pandemic. RPA bots can help healthcare institutions, for example, project the number of ventilators needed and quickly decide whether they should be redirected to sites with the higher requirements.

3. Dependable data

RPA robot performs tasks with accuracy and precision, without manual errors in process flow and data management. This offers support to the automation agenda to manage and minimize risk. RPA has the skill to perform types of exception management tasks, where typically humans are making repetitive simple decisions based on basic data or criteria.

4. Minimizing Cyber-threats:

Thanks to RPA, sensitive data can be protected with layers of security. The masking of data can be made stronger with the use of a security automation tool.

A new world of different working models is upon us. Millennials and Gen Z are digital natives and naturally comfortable with rapidly evolving technology.  So, for this generation and those to follow, eventually leading to higher engagement, better performance, and greater innovations.

Companies that are not already considering BOTs that include RPA and other automation as a component of a broader work ecosystem might miss significant opportunities for efficiency, enhancing the quality of work, risk mitigation, and ultimately growth.

To summarize, RPA can be used as a tool to increase engagement and satisfaction and is an enabler of ongoing transformation that touches upon many dimensions in the workforce. It, therefore, needs to be connected to a broader talent strategy, and companies will need to change their operating models to maximize value and ROI.

Author

Mr. Niraj Hutheesing, Founder & Managing Director, Cygnet Infotech