Robotic process automation (RPA) is the use of software with artificial intelligence (AI) and machine learning capabilities to handle high-volume; repeatable tasks that previously required humans to perform. These tasks can include queries, calculations and maintenance of records and transactions.
RPA technology consists of software robots (bots) that can mimic a human worker. RPA bots can log into applications, enter data, calculate and complete tasks and then log out.
Applications Of RPA
Supply Chain Management
Benefits Of RPA
Reduced cost: By automating tasks, cost savings of nearly 30% can be achieved. Software robots also cost less than a full-time employee.
Better customer experience: Deploying RPA frees up your high-value resources to be put back on the front line ensuring your customer success.
Lower operational risk:By eliminating human errors such as tiredness or lack of knowledge, RPA reduces the rate of errors thereby providing a lower level of operational risk.
Improved internal processes:In order to leverage AI and RPA, companies are forced to define clear governance procedures. This, in turn, allows for faster internal reporting, on-boarding and other internal activities.
It does not replace existing IT systems:One of the biggest advantages of using a virtual workforce, or an RPA bot is that it does not require you to replace your existing systems. Instead, RPA can leverage your existing systems, the same way a human employee can.