RPA (Robotic Process Automation) is a cutting-edge technology created to optimize, boost, and improve various business processes performed by your employees.
What used to be a tedious, time-consuming, and error-prone activity for your employees is now an optimized autonomous process that saves time instead of consuming it. Here, we’ll find the best processes for automation and talk about the industries in which they’re represented the most.
Is an RPA-Powered Digital Teammate Applicable for my Industry?
RPA, or Robotic Process Automation, is a technology that focuses on processes instead of industries, as long as those processes are:
- Handling structured data
Thus, the higher the frequency, the faster the ROI is. We can find such processes across every industry and department.
However, some industries have many processes that comply with the mentioned criteria, especially finances, insurance, manufacturing, hospitality, and retail.
Below, we’ll cover some of them and give an example of the best processes your Digital Teammate can take over.
Finance and Banking
Software robots are a perfect addition to your back-office team and can relieve your employees from mundane tasks. Above all, Digital Teammates will execute the processes faster and without human-made errors. They can work with any legacy application on the User Interface Level.
A great example of their utilization are:
- Invoice processing
- Accounts payable and accounts receivable
- Bank reconciliation
- Master data management
- Vendor and customer account creation
In the financial sector, it’s crucial to have accurate data available to provide top-quality service to your customers without delays.
A Digital Teammate is a highly beneficial addition to your team, as you’ll be able to handle more customers’ requests in a shorter time.
In the Insurance industry, employees handle an enormous amount of sensitive data every day. Their work requires speed and accuracy while trying to avoid human-made errors that inevitably occur.
A great example of the processes you can consider automating are:
- Claims Registration and Processing
- Regulatory Compliance
- Process and Business Analytics
- Policy Admin and Servicing
- Form Registration
- Policy Cancellation
- Sales and Distribution
- Finance and Accounts
- Integration with Legacy Applications
Telecoms can easily automate a majority of back-office activities, improve the quality of your employee’s tasks, and allow them to focus more on improving customer satisfaction.
For example, some of the process candidates for automation are:
- Database management
- Customer service management
- Purchase order management
- IT and infrastructure services, etc.
By utilizing the RPA-powered Digital Teammate, retailers can easily:
- Boost efficiency in existing operations
- Improve customer engagement across channels
- Reduce costs by refocusing staff on high-value tasks
- Improve customer experience
- Improve speed, quality, and accuracy of data
Even reports can be built faster, with more accuracy and agility for improved decision-making. That way, you’ll accurately handle more data in less time while reducing your operational time.
Even the Utility Industry has many processes that would be beneficial to automate by implementing an RPA-powered Digital Teammate. Some of them are:
- Regulatory reporting
- Invoicing and settlement
- Billing & Dunning
- Contract management
- Credit/Debt Management
- Customer Service
- KPI monitoring
With higher demand, manufacturers must invest in business modernization to keep on delivering on time. Other than investing in hardware, software robots are an essential investment, too.
Some of the perfect processes for automation in this industry are:
- Bill of Materials
- Administration and reporting
- Data migration
- Invoice processing
- Inventory control
- Regulatory compliance
Logistics Industry handles an enormous amount of data that must be accurate, up-to-date, and available across various platforms.
Some processes that are perfect candidates for an RPA-powered Digital Teammate are:
- Data entry automation
- Predictive maintenance
- Logistics management
- After-sales service
- Initiating purchase orders
- Order management
- Supply chain diversity
In the hospitality industry, the focus is on your guests, and every activity that occupies your employees’ attention more than necessary can affect the overall customer satisfaction.
To free up their time, here’s a list of activities a Digital Teammate can help with:
- Room reservations
- Front desk operations
- Room service and billing requests
- Automated check-in and check-out
- Online reservations management
- Concierge recommendation
- Customer reviews analysis
Other than that, you can automate processes in HR, Finances, Maintenance, Logistics, etc., to make all of your operations faster and smoother.
Even though RPA is industry-agnostic, some sectors are leaders in implementing new technologies, such as RPA.
However, there is always more room for automation, depending on the level of digitalization in the company. Additionally, other than increased ROI, efficiency, and customer satisfaction, you’re improving employee satisfaction, too, leading to better employee retention. Consequently, such investment will reflect in all segments of your work – from the financial aspect to employees and customer satisfaction.