3 Benefits of Utilising Robotic Process Automation
In the rapidly evolving business world, productivity and efficiency play an increasingly critical role in an organisation’s survival. Robotic process automation is thrust into the limelight as an effective means to achieve more with less. Questions may arise as to what robotic process automation is and how robotic process automation works.
Robotic process automation is software that helps a company to automate specific tasks. Its goal is to perform time-consuming tasks in place of employees so they can focus on their core competencies. This is achieved through bots that work directly from a user interface by imitating human behaviour. Robotic process automation can co-exist within any existing process and speed it up. This makes it an excellent tactical tool to complement any organisation’s strategy of streamlining overall operations.
Practical Applications of Robotic Process Automation
As robotic process automation gains traction, its application scenarios increase and some of the top practical applications are as follows:
1. Call Centre Operations
In many other cases, customers’ queries tend to be complex, and their calls are often routed to different places until it is eventually resolved. As such, call centre agents may not know all the information about a specific customer’s case and the previous follow-up actions taken. However, robotic process automation can integrate data across all platforms and systems, enabling different agents to track the progress of specific issues easily. This saves time that otherwise would have been spent on getting customers to repeat previously shared information. As a result, call centres can address concerns more quickly and avoid aggravating customer frustration, increasing their satisfaction.
2. Compliance Reporting
In compliance reporting, a significant amount of time is often spent navigating large volumes of data. The compliance team may also need to perform many tests involving several steps. This can be especially time-consuming and tedious for large companies where the number of tests is multiplied. However, with robotic process automation, data can be pulled from different sources quickly, increasing reporting efficiency.
3. Analytics
Data is a gateway for companies to gain valuable insights that help enhance business processes and facilitate better decision-making. However, employees may face increasingly greater difficulty trawling through ever-growing volumes of data. In contrast, bots are unparalleled in sieving through data without errors and can take a much shorter time. When deployed, robotic process automation can free up employees’ time, enabling them to work on other tasks that add more value to the company.
3 Reasons to Automate Your Business Processes
More businesses in New Zealand and abroad are taking advantage of robotic process automation. This is reflected in a Deloitte survey, which showed that 78% of firms in New Zealand integrated robotic process automation into business operations. By adopting robotic process automation, companies can place themselves in a more favourable position to stay ahead of the competition on the domestic and international stages.
Two excellent examples of enterprises that have leveraged robotic process automation to improve their business processes are Trustpower, a power company, and Xero, an accounting software. In Trustpower's case, the firm has been able to improve customer service and turnaround time by implementing robotic process automation across a wide range of business processes. This includes new account creation, billing, and collections. Xero, on the other hand, has used robotic process automation for automating its payroll processes. This has resulted in greater accuracy and efficiency in the payroll function while also freeing up employees' time to focus on more strategic tasks.
The benefits of robotic process automation can never be overstated, and the top three are as follows:
1. Greater Efficiency and Savings
When bots take on tasks in place of human employees in robotic process automation, the released human capacity can focus on higher-level tasks that may be more profitable for organisations. Robotic process automation can also fill in staffing needs for large jobs with tight deadlines. This enables firms to save on money that would otherwise be spent on overtime pay or cost incurred from recruiting temporary staff. This is proven in a Deloitte study, which showed that robotic process automation can help companies reduce costs by 59%. Similarly, a study by McKinsey has noted a 200% increase in return on investment within the first year of companies’ investment in robotic process automation.
2. Improved Analytics
With robotic process automation, organisations can gather data from disparate platforms and applications conveniently, facilitating the ease of data analysis. As a bonus, bots can also be deployed to continuously check for data anomalies and enhance consistency. This helps organisations to save time on data cleansing. The higher quality of the data also ensures that more accurate insights can be gained.
Beyond supporting analytics processes, robotic process automation can provide a wealth of data on processes and tasks. This is helpful as they offer insights that help identify gaps in existing workflows, supporting process improvement initiatives.
3. Improved Employee and Customer Experience
Human employees may face physical limitations of fatigue and reduced concentration that can affect the efficiency and quality of work delivered. This is especially true for dry, repetitive tasks. In this aspect, bots have an added advantage. They can work tirelessly at greater speeds with zero compromises on quality. Thus, implementing robotic process automation enables improved turnaround time for deliverables. This gives businesses greater agility to capitalise on market opportunities and meet clients’ demands more quickly. At the same time, bots are impervious to human errors, ensuring perfect accuracy every time. This improvement in quality and consistency can significantly enhance customers’ experience, opening doors to future business opportunities.
In terms of the impact on internal stakeholders, employees relieved from onerous tasks through robotic process automation can work on more rewarding ones that increase job satisfaction. Eventually, companies will benefit from happier employees through higher levels of productivity. This echoes a Harvard Business Review Analytic Services study, which showed that a happier sales team closes 37% more deals. In a separate study, a more satisfied employee is also 20% more productive.
Benefits of an Enterprise Content Management System
Apart from robotic process automation, companies may also consider implementing an enterprise content management solution to optimise their business processes fully. An enterprise content management system stores digitised documents in a centralised repository. This complements robotic process automation by providing a centralised interface for monitoring the progress of different tasks executed by bots, allowing projects to be better managed. With content digitised, the audit trail provides more assurance on data compliance. This ensures that bots receive data of better quality, reducing the time spent on trawling and boosting work efficiency.
Beyond complementing robotic process automation, enterprise content management systems enable companies to easily access and manage all the latest business content from any location. This convenience allows businesses to make quicker, better-informed decisions and facilitate cross-team collaborations.
Why Choose FUJIFILM Business Innovation for Robotic Process Automation
Robotic process automation is one of the most promising new technologies that can stage a company for greater success by optimising each aspect of the organisation’s workflow. Committed to helping businesses leverage technology to gain a competitive edge, FUJIFILM Business Innovation New Zealand offers a comprehensive range of products, solutions and services that empowers companies to optimise end-to-end processes. These workflow automation solutions include robotic process automation, enterprise content management, and imaging. In the case of imaging, image data can be captured at a higher speed and with better quality. The enhanced calibre of data supports better analysis and facilitates forecasting and planning.
While having the right tools is essential, companies can only truly reap the dividends of automation when these technologies are utilised correctly. With years of experience in providing advanced print and automation solutions, FUJIFILM Business Innovation has the solid foundation and expertise to guide companies toward realising their full potential. Our team of experts are always ready to help your company to harness the power of these transformational technologies. Reach out to us today to learn how we can help you integrate robotic process automation or other workflow optimisation solutions in your business strategy.
