In different industries, many day-to-day tasks are repetitive and may consume a significant amount of time, effort, and costs for businesses operating in their work environments. With work inefficiency creeping in because of these challenges, it becomes imperative for businesses to adopt certain practices that can reduce the workload on employees. In this manner, they can implement streamlined operations especially the ones following a repetitive mode of action. One of the ways to achieve this is by using Robotic Process Automation or RPA tools that are readily available on various marketplaces to implement process automation at the workspace.
Before discussing Simplifai Studio – an RPA tool, let’s first understand what is Robotic Process Automation (RPA)
Robotic Process Automation for Businesses
In an organization, daily responsibilities are usually carried out by employees that work on such repetitive processes. However, it is possible to automate these processes by assigning a specific software to handle them, along with associated actions. For several years, Robotic Process Automation has been used at varying degrees in the form of RPA software. To define it in simple terms, RPA is a form of business process automation that allows anyone to predetermine a set of instructions for a robot or a ‘bot’ program to perform them.
As these bot programs can work continuously without needing breaks and possess the ability to achieve high accuracy, using RPA tools are extremely beneficial for businesses in the long run. Robotic Process Automation saves time and human efforts to a significant extent and frees up resources that can be otherwise used on more complex and demanding tasks. Running on a rule-based engine, RPA can handle a large volume of tasks in a small window of time and helps boost performance and productivity for organizations.
How can organizations benefit from using RPA tool?
As per the Grandview research report, the global robotic process automation market size was valued at USD 1.57 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 32.8% from 2021 to 2028.
How Robotic Process Automation can be a boon for businesses:
- No coding: Some RPA tools do not require any programming or coding knowledge to configure the bots. Instead, they often possess a drag-and-drop feature that makes it easier even for non-technical staff to use.
- Huge cost savings: Since RPA automates most of the repetitive tasks for the staff, it thereby reduces the workload. The staff can thus focus on other priority work that requires human supervision, leading to increases in productivity and ROI.
- Improved customer satisfaction: Since bots are available around the clock, they can reduce wait times for customers, thus improving customer satisfaction.
- Improved accuracy and compliance: Human errors can be reduced by programming the RPA robots to follow specific workflows and rules, thus resulting in better processing accuracy and compliance.
RPA is basically about automating some of the most tedious and repetitive computer-operated tasks and processes at the workplace. Due to these benefits, RPA tools are a highly viable option for the small, medium as well as large-scale organizations.
Things to consider while selecting an RPA tool:
- Fast & Easy to implement
- Easy Customization
- Easy Integration
Important industries using Robotic Process Automation:
As per Markets and Markets, the Robotic Process Automation market in the BFSI industry held the largest market share among all the industries. RPA improves the accuracy and efficiency of different processes in the BFSI industry.
Banking and financial services: Today, many major banks use RPA automation solutions to automate tasks, such as account opening, KYC inquiry, loan inquiry, card services inquiry, and much more. A bank uses bots to automate manual high-volume data entry.
Insurance: Insurance is full of several repetitive processes well-suited for being handled through process automation. For example, you can apply RPA to claims processing, customer service, and many other operations in this industry.
Simplifai Studio – a user-friendly RPA tool
Simplifai Studio is our flagship platform that can help your business implement Intelligent Process Automation in your work environment by integrating AI solutions through API/RPA with your third-party systems. You can have full access to the Simplifai Studio to automate your work process with ease. It is an innovative platform to make use of an RPA tool for configuring and training your own bots without coding and with minimal effort, resulting in higher work productivity in just a few weeks.
Simplifai Studio is designed to enable end-to-end automation where all your bots can sync and work together for maximized efficiency. The platform allows you to configure, train, set rules and actions, connect to your systems, and track your bots’ performance all under one roof. Moreover, Studio offers much more than just bot configuration and deployment; it helps manage and maintain your bots to handle all its aspects efficiently.
In the Simplifai Studio, it’s easy to set up your workflow according to your business requirements. Adding rules and conditions is a prime component of the Action Flow. Using this, you can decide the actions and tasks a bot should execute and determine when they should be triggered.
Start your automation journey with Simplifai Studio by booking a demo!