Robotic Process Automation (or RPA) as a technological innovation started in the 1990s, however, the term ‘RPA’ as an acronym got recognized in the beginning 2000s. Since, RPA Automation or ‘bots’ is a merger of many technologies it follows three basic process in its module:

• Data entry – from various form
• Data extraction – from its secured database
• Routine and repetitive process – requiring no human handling

RPA adaptation in the initial years and after covid-19

The digital era required businesses to produce accurate output at a rapid pace. Achieving accuracy at a rapid pace is difficult for humans due to humongous data and limitations on their time. This led to erroneous recording of information and the mistakes started to creep in. This is when the emergence of robotic process automation happened. RPA not only addressed accuracy and rapidity, but it also brought in cost reduction, better compliance, and confidentiality.

When Industries saw the benefits of RPA, they started onboarding RPA in their work culture. It was gaining some momentum, but covid-19 accelerated that momentum.  The pandemic forced many businesses to adopt remote working or work from home, and many new issues such as compliance/confidentiality started to creep in. RPA can easily address these issues and hence companies started to adopt RPA at a much faster pace after the pandemic.

Many RPA vendors are now in the market and they have several readymade and customisable automation solutions. Albeit, the success of RPA automation is subjected upon the right vendor, types of services it offers, affordable pricing and after deployment services.

The Information era changed the mind set in doing business collectively even as a small firm to stay afloat.

Why should your firm start to automate business Process?

The Information era changed the mind set in doing business.The businesses need to revisit the way repetitive, laborious, and manual intensive tasks are handled.Robotic Process Automation comes handy to help your company sustain the digital revolution. Let us look at some areas where RPA comes in handy.

1. Customer care and quality assurance:

The service we provide to customers assures us there is a 'repeat audience' due to customer satisfaction. This is achieved through reliable and assured deliverables. Through RPA, time consuming and routine tasks can get automated, leaving a wider scope for standardization of services.

2. Cost savings and reduction of manual errors

With automation, management gets guarantees of 'cost savings' and 'hassles of recruitment & training' at lower skill set levels. Areas where accounting automation is used, the accountant is relieved from the stress of overload of invoice payment cycles, data entry errors and meeting clients' deadlines.

3. Task allocation and accountability

Automation of repetitive tasks frees management to deviate employees on innovation and productive tasks. Further, RPA deployment helps in tracking the progress of the tasks allocated. Through this, it helps to monitor deviations and bring accountability in the work.

4. Reduced work cycle and synchronized communication

RPA Automation allows identifying and restructuring work cycles. Especially, calibrated through accounting automation, the results will be astounding from the production, supply, accounts payable and accounts receivable divisions. Due to reduction in turnaround time, there is customer satisfaction and boost in employee morale. Further, the communication process gets aligned, giving us the satisfaction of 'paperless' workspaces.

5. Rapidity and consistency

RPA without any debate is typically faster than humans. They are capable of handling additional two human’s tasks. Apart from this, RPA 'bots', gives consistent performance in its working capacity. Unlike humans, they do not have any attendance or personnel issues. They practically work non-stop all day along.

6. Competitive edge and better governance

An enterprise through adopting in its practices RPA automation, takes an edge amongst its competitors. The business insight helps in utilizing their resources towards expansion, better customer experience, employee retention and incremental sales figures.

Many industries have already embarked on their automation journey. The one sector taking huge strides are accounting, financial and banking Industries. With the onset of the pandemic, the latest addition is the healthcare sector.

Like the above-mentioned sectors, are you interested to be part of the RPA automation journey? We are delighted to showcase our multiple automation process and client specific too. All you need to do is schedule accounting automation demo, our experts will get in touch with you and get all your questions clarified about implementing robotic automation at your organization.