You might be wondering what exactly this technology is that everyone is talking about. RPA is, at its core, a combination of AI, machine learning, and logic coded into what we call “bots”. You can have as many of these bots as you want, and you can deploy them on tasks that can impact the speed and accuracy of your processes. Companies from various industries are implementing this system to get rid of human errors and slowness in activities like copying, extracting, and filling in data and forms, undergoing an analysis of various results and reporting.
Look at the American retail giant Walmart, for example. They employed 500 bots in their operations to automate tasks such as answering employee questions or retrieving useful information from huge blocks of data or text. Walmart can also track its inventory flow and identify when an item is out of stock and needs to be replaced! RPA automation has this power.
We see this becoming a big trend and for a good reason. It is forever changing the way business is conducted. While companies are focusing on speed and accuracy in processes, employees might get worried that their jobs are in danger. The truth is that, even though in some cases layoffs are happening, in other cases, employees get their jobs improved by merging their work with the capabilities of a robot. We think that this is the future of the working environment. Teamwork can exist between humans and machines. The combination between human intelligence and robots is creating a better way of doing business.
Consequently, digital transformation and RPA transformation refer to the integration of software in the workplace, namely in all areas of it, and profiting from an automated way of doing business. It results in both customer satisfaction and employee satisfaction.
There is an interdependence between digital transformation and the technology that these robots provide, with applications varying from invoice generation and payment handling to Excel sheet analysis and data filling. Digital transformation is not limited to a domain of activity. People from finance, HR, customer relations, and even health care are seeing huge increases in productivity by employing automation companies to start the process of transformation.
The German multinational Siemens has employed RPA tools in its processes - especially in the fields of invoice processing, accounts payable, and customer service. And guess what - it proved to be successful, as Siemens has reported faster processing times, reduced errors, and improved compliance.
The good news is that working with a company specializing in RPA robots means there is no need for coding on your part. These companies are improving their user experience in working with their bots, making it easy for anyone to work alongside their technology. In this way, people in a company can work on more creative focus tasks and step up their business.
With companies like UiPath and BluePrism continuously innovating their products, we can only assume the future will see RPA get smarter. What do we mean by smarter? Basically, RPA tools are getting tailored for specific industries, being able to automate even more complex processes.
Cognitive RPA takes this process even further by incorporating artificial intelligence and machine learning into the mix. This allows the robots to learn from their interactions with humans. What does that mean? Well, robots can now adapt to changing situations and make decisions on their own. Of course, with human directions.
And that’s not all! Cognitive RPA also calls for more productive collaboration. As RPA is getting more developed - it will be able to work side by side with humans in order to get the most out of every situation we will confront.
We can only be excited about smarter automation, and we are keeping an eye out for every update this industry offers. At the end of the day, we are sure businesses will continue to see advantages by using RPA robots as their tool for business transformation in the IoT and technology era.
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