RPA process evaluation

As RPA becomes the new dominant technology in the industry, companies are looking for new processes to leverage the RPA in order to improve efficiency, reduce cost and open new revenue opportunities. This has led to an exponential growth in RPA adoption in modern enterprises.

The study conducted by IRPA-AI in June 2017 has shown that in around 22 industries globally, RPA has become part of every process. Some industries like banking and finance are particularly dominated in adopting automation. [Institute for Robotic Process Automation and Artificial Intelligence (IRPA-AI) Survey, June 2017] This article will explore the most common processes automated in various industries. Let’s get started.

Top candidates of automation by companies

It is critical to select the first process to automate in the company as failure will bring a lot of setbacks and opposition to adoption. It is recommended to consider the mundane, repetitive and rule-based processes as the first to automate. Processes that can be well-defined and includes doing the repetitive task in the large volume are the best options. Few of these processes are back-office work, data entry, information validation, resolving rule-based tasks like password reset. Below are a few processes which global companies have selected as their first:

  • Human resources
  • Finance and accounting
  • Information technology
  • Procurement
  • Core business operations
  • Data and analytics

Top automated processes in various industries

There is hardly any industry where robotic process automation has not entered. The ability to integrate with any system and a technological independent solution has made it more lucrative. RPA can integrate with any legacy system using API or screen scrapping to make the systems work together.

The dominant industry in adopting RPA is banking and finance due to its huge data and manual processes. The banking and finance industry is saving a fortune and improving efficiency with a significant amount with RPA. RPA helps them automate the time consuming boring work like validating customer information from two different systems by integrating them. Before, it has to be validated manually as two legacy systems cannot integrate. Similarly, the insurance industry is also banking on the RPA as the next revolution. The beauty of the RPA is it can be used in any function of the company in any industry. Below are the few processes in various industries that re being automated.

RPA in Healthcare

  • Patient data processing
  • Claims Underwriting and Processing
  • Medical Coding
  • Medical billing and Processing
  • Patient Payment Consolidation

RPA in Higher Education

  • Student Payment Processing
  • Education ERP Automation – Oracle, PeopleSoft, Banner, Jenzabar, PowerCampus

RPA in Manufacturing

  • Logistics Automation
  • Invoice Generation and Validation
  • ERP Business workflow automation
  • Dynamic Product price comparisons

RPA in Travel & Hospitality

  • Competitor Pricing Analysis
  • Automated Guest Checking, Room Booking
  • Travel Package Selection and Recommendation
  • Payment Processing

RPA in Banking

  • Compliance
  • Accounts Payable
  • Mortgage Processing
  • Credit Card & Loan Processing
  • Fraud Detection
  • KYC Process
  • Report Automation
  • Account Closure Process
  • Customer Service

RPA in Retail

  • Procurement & Inventory Management
  • Order Processing and Payments
  • Communication between Manufacturers, Suppliers, Third Party Logistics, and Customers
  • Product Data and Catalogue Management
  • Product Merchandizing
  • Demand & Supply Planning
  • Workforce Scheduling

RPA Software

  • Load, Stress, performance testing of mobile apps
  • Defect Tracking & Management
  • Test Suite Automation

RPA in BPO

  • Contact Centre Automation
  • Conversational IVR for human-like response

RPA in Finance

  • Accelerate period-end processing
  • Update master accounts and legal entities across systems
  • Maintain attributes across systems
  • Generate reports
  • Handle adjustments
  • Tax provisioning
  • Tax liability scenarios

What do you think about this list? Let us know in the comment.

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