What is the business value of RPA?
The value is huge and there are numerous articles and studies that cover it. The key takeaways are usually as follows:
✓ Enhanced productivity. RPA works around the clock 24/7/365 with no holidays, sick leaves, etc. This means that a single robot has much more working time than a human. Putting processes on autopilot allows companies to focus on more value-adding activities and boost growth.
✓ Higher efficiency. RPA achieves more with less amount of resources consumed. While their speed often depends on the process itself, but it is estimated that a software robot is usually at least 5 times faster than humans and they also improve production quality with error-free operations.
✓ Improved customer experience. Customer queries and orders are handled much faster and without making mistakes, which makes them a lot happier.
✓ Standard operational procedures. RPA provides greater transparency and detailed auditing. Automated processes are always run according to standard procedures, which improves compliance with regulatory procedures.
✓ Cost reduction. With automation of repetitive manual processes, administrative costs are significantly reduced and the need for back-office resources is eliminated.
✓ Scalability. RPA solutions are easy to adjust, fit into multiple processes and scale throughout the whole organization. This helps organizations deal with a continually changing workload, as well as facilitate business growth.
✓ Greater agility. RPA solutions can be effortlessly retrained to adapt to new demands and changes in your organization. Agile business management is often the major factor of success.