Robotic Process Automation: How it Impact Business Strategies during COVID-19 Crisis?

Contents hide 1 Introduction 1.1 I. Replacement of Specific Workplace Activities with Automation 1.2 II. Re-Defining of the Roles of Work after...

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What is Robotic Process Automation? It is automation software that takes the services of AI and ML to successfully handle tedious and high-volume tasks that were previously managed by the humans working in an organization.

Furthermore, how it is different from traditional IT automation? The answer is that platforms working on enterprise RPA software can adapt them to new situations and circumstances in the best possible way.

Once RPA software is made to train in effective interpreting and capturing the action for a specific process; then manipulating data with the initiation of new actions and communication with other systems occurs simultaneously.

Besides, RPA software tools have been useful for those organizations that work under a complicated system and require frequent interaction.

Thus, it could be well said that RPA is now the backbone of most of the organizations during the difficult time of today (due to ongoing pandemic via COVID-19). In such drastic circumstances, it becomes important to adopt the given RPA automation tool. It is due to it that your business strategies will be going to change forever and that too at your benefit.

There is research conducted by a leading American management consulting firm called Mckinsey. According to it, the RPA software has impacted the four important workplace areas of any business activities that are as follows:

I. Replacement of Specific Workplace Activities with Automation

Various research findings refute the claim that automation will not remove the individual job completely. Instead, it will occupy certain specific jobs that will require automation to enhance their productivity. Besides, another misleading fact that is condemned by them is that routine-based activities are easily automated.

They have pointed to the aspect that RPA will have the least impact on capital and hardware-intensive industries. Why? It is because these industries are slow and need more time to reap benefits from the investment, and hence are expensive to automation.

On the other hand, software-based industries such as financial services will reap the largest benefits of investment in automation systems such as RPA. The reason behind it is that they can create value at a lower cost and shortest period.

II. Re-Defining of the Roles of Work after Automation Takes Over

As it has become evident that automation is going to change the working procedures of employees in the companies, so it requires the redefinition of their roles and responsibilities concerning their profile.

Researchers have pointed out that with the current level of technology; only 5% of the occupation can become completely automated. So, opting for redefining the role will help the employees to take automation in a positive note. Besides, it will also free them ample time to use creativity and focus more on high-value work and allow automation to take care of the repetitive task.

Moreover, collaborating with ML will help RPA to diagnose hidden flaws in any given task that will help in improving the productivity of the given organizations by providing them with a better result. It is thus going to have a great impact on offering the best RPA service solutions to their customers.

III. Great Impact on Administrative Job Rather than Customer-Facing Roles

If you want to offer good customer service; then start giving the customers what they need it. For it to happen, the service rep requires full information about the history of the customers, their problems, and actions taken to mitigate it.

In such a scenario, RPA bots can quickly connect to numerous record systems and provide information to the representatives at that instant successfully. Furthermore, they shift the focus from housekeeping to the software bots, that frees the reps and allow them to focus on taking strategic decisions for effective customer service.

It is the human judgment that makes RPA useful for administration, as the given action once taken cannot be replaced. Thus, employees working in the administrative role will have to make way for the given intelligent machine. On the other hand, employees working in customer-facing roles can collaborate with RPA to offer great services to their customers.

After going through the above-given aspects, the given study will offer in detail some of the areas of impact via RPA that will help business leaders to have better decisions and get access to the maximum gain.

With the widespread havoc occurring due to the current COVID-19 pandemic, RPA has emerged as the better alternative to utilize digital strategies and create a new path towards success. Few areas have seen the impact of the given automation software, and have really accelerated the path of a form to give it real business value. These are:

A. The requirement of Minimum Workforce

Robotic Process Automation software has proved to be a time-reducing system that has paved the way for the firms to reduce cost and deliver savings devoid of a large number of employees. With the present pandemic expanding its footprint to larger areas and not going to stop soon, the emergence of RPA permits the companies to work with only those employees who have upskilled their talent, and help in achieving the higher-value work.

There is a misconception that automation will allow robots to overtake human workers. It is not true. Instead, it is generating a large number of jobs for those skilled workers who have expertise in automation. Thus, a low workforce can create large global output just with the presence of RPA.

B. High Speed Differentiates RPA System with Traditional System

RPA solution has made the traditional software solution somewhat redundant due to its great speed that has scale-up the productivity to a new high. Moreover, it offers new opportunities to obtain new efficiency which helps in reducing the maintenance cost of the company.

There is one notable example from the financial sector, where a leading firm automated its whole operation concerning online transactions. Therefore, the given organization has been able to save a great number of times in the form of 30 seconds per call, which has proved to be a significant achievement for them.

C. Higher Quality has made Majority of Firms to have Faith around RPA

Why automation has gained high fame among the companies? The answer is that it helps them in achieving a high-quality result that they can’t achieve without it. There are various departments in an organization such as finance, accountant, payroll, and many more, where the RPA software bots help in generating and validating invoices to reduce errors.

In such a way, there is an increase in accuracy that helps an organization to lay more focus on completing other important tasks that will help in enhancing the quality of the given project manifold.

D. Great Potential to Deliver, Thanks to New Capabilities

RPA has great potential in offering numerous benefits to any given organization. With assistance from automation, they can develop new processes, tasks, and operations without any direct involvement of the employees. In short, automation helps the companies to achieve what the employees could not offer them.

In the present scenario affected by the COVID-19 crisis, the given automation system will come in handy. For example, a retail store can develop automation via RPA to manage daily health screening to offer assurance to its employees. It will not only save their job, but it will help them to connect with their customers in new ways and thus leading to the creation of long-term loyalty among them.

Wrapping Up

As per the given study, it has been made clear that most of the organizations are facing a similar challenge: how to open the office safety, and how to bring the important business operations back to the track swiftly. In such cases, the role of the RPA service providers comes to the fore.

Although there will be a disruption of business strategies, its impact will be too far and in favor of the companies. RPA automation will help the companies in accomplishing goals, and will offer additional tools via digital strategies to create a perfect solution that will be right for them, especially during the current COVID-19 pandemic.