Robotic Process Automation (RPA) 101

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Robotic process automation, or RPA, is a relatively new and emerging technology field so it’s not uncommon for business managers to be confused or intimidated when they hear the term. Fortunately, however, RPA is actually here to help. In a nutshell, RPA improves digital business processes by deploying automation software to take care of the time-consuming repetitive tasks. This frees up human employees to spend more of their time on more impactful and higher value tasks.  

 

Misconceptions about RPA 

When people first hear the term, their minds may jump to questions about robots and concerns about artificial intelligence. So, let’s set the record straight. 

  • Don’t let the “robotic” mislead you, there are no physical robots involved. The “robotic” actually refers to digital applications, or bots, that automate tasks. 

  • These bots do not possess artificial intelligence or the ability to operate with your permission. There’s no need to worry about giving rise to Skynet and starting Terminator in real life. 

  • RPA’s goals do not include replacing humans. Instead, it allows humans to make better use of their time. 

 

Criteria to Consider Before RPA Implementation 

Implementation can produce benefits like cost savings, error reduction, and increased processing time, but not every process is a great candidate. Here are some tips to keep in mind when considering a process for automation. 

  • The digital process needs to have a significant pain point. For example, a certain task area could be taking too much employee time or experiencing too many errors. Without an issue to help remedy, RPA is unlikely to have a notable effect.  

  • The process in question should be standardized within the organization.  If multiple employees complete the same process in a different manner, applied changes won’t have a consistent effect.  

  • RPA is much better suited for processes featuring rule-based activities with a low number of exceptions or handling procedures. Discretionary and subjective judgment activities should stay reserved for human employees. While RPA is designed to replicate human actions, high-level and open-ended decisions need to remain under human employee oversight.  

 

Common Processes for RPA 

Many business departments have processes that can benefit from implementation. We’ve listed a handful of examples below. 

Information Technology 

  • Cybersecurity operations 

  • Email processing and distribution 

  • Password resetting 

Customer Service 

  • Account setup 

  • Document processing 

Supply Chain Management 

  • Inventory management 

  • Freight management 

Finance & Accounting 

  • Payment processing 

  • Credit management 

  • Bank reconciliations 

Human Resources 

  • Payroll 

  • Time and attendance management 

  • Education and training 

 

Have additional questions about robotic process automation? Explore our implementation process or contact the Vergence team to learn more. 

Loan Document Processing Automation

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