Trending Impact Of Robotic Process Automation(RPA) In Today’s Business World

As we have dedicated our blogs in trying to educate you on most of the technological trends that have taken center hold in our world today, it’s quite fun having the brainwave of these technological inventions transform our word driving us to the peak of buzzing excitement. One of such technology that shouldn’t be omitted is Robotic Process Automation as this single invention is singlehandedly changing the business world today. 

#What then is Robotic Process Automation RPA

 Like the name suggests it involves automation, this has to do with a robot following your daily routine in the office, most people call it an act of automating the white collar job; let’s create a scenario where your daily routine each day is broken into these steps.

Step 1. You come to work every morning and by 9.am, you have to reply emails from clients using an email reply format.

Step 2: once it is 12pm you have to draft the financial records in a worksheet 

Step3: Yes, certainly at the end of the day maybe by 2pm, you should submit the financial calculation record to the email of your superior.

These tasks are repetitive in nature and hey I promise the monotony can sap the little strength you have and drown you in the depth of boredom and that’s where RPA comes in, RPA involves making use of software and machine learning capabilities to handle high volume repetitive tasks which previously involves human. 

This is a technological application governed by business logics and structured inputs and its aim is to automate most of business processes. The RPA have the tendency of mimicking human processes, understanding how humans interact with computers and following the exact pattern with high degree of speed and accuracy. Just record the steps you take in carrying out your daily routine in the workplace and create a software, a virtual worker that follows the same steps achieving much more accurate results at even faster time. These bots are not humanoids; they are not shiny metal hardware robots looking like humans rather they are Machine Language software. 

# The mode of operation of RPA 

The mode of operation of the RPA can be summarized in

mode1: Trigger: for the robot to start work, something must trigger it, it can be a time alarm or a sound of email reception. 

Mode2: Operation: once the bot is triggered by whatever mechanism it is, it starts work immediately following chorographically the steps of operation and delivering the much desired results.

# Trending impacts/benefits of RPA to the business word of today

The impact of this awesome disruptive tech is quite numerous as it has left its profound effect in the daily activities of most businesses and such can be summarized below thus:

#1 Low cost implementation impact: as complex as the concept of RPA sounds, the implementation cost happens to be very low, and so many companies have been able to maximize this awesome technology in achieving a great ROI in businesses while spending just a little in the course of setting up RPA. The idea is that companies are bound on finding the best way to deliver first class services to customers at a very low expenditure. Luckily, Robotic Process Automation gives them a very nice platform for such as low value tasks can now be automated, this has yielded a positive impact to most companies and today’s business world at large.

#2 Reduction in staffing costs: before the emergence of this disruptive technology, most companies were known to hire staffs to carry out such low value tasks as emailing, financial calculations and so on. The cost of hiring staffs which fill in these positions is quite a big one but these bots can do these works accurately without supervision hence the impact is that the cost of hiring staffs is taken away from the equation. Analyses have it that 18 bots can run 13 processes, handling 1.5million requests per year. And the above can be carried out by a ballpark figure of 200 full time employees. 

It is presumed that in the years to come, these bots will reduce the number of staffs by over 60%.

#Real life applications of RPA

#1. Retail Services: most companies have turned in a whole lot into RPA all in an effort to achieve awesome customer services, fraud detection and customer feedback and the positive outcome has been huge.

#2 Accounting: accounting companies happen to be the early adopters of this technology; most of them make use of these bots in handling issues of billings, payment notifications and reconciliations.

#3. RPA has also found tremendous applications in companies that render services which include invoice and procurement managements.

Most big companies like Walmart and Digiweb Developers have found the usage of this awesome technology as a ground breaking development and it is believed that in the nearest future Robotic Process Automation will overhaul the modus operandi of the business world.

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