RPA or Robotic Process automation is using technology, software or machineries, etc. to imitate human activities. It’s mostly implemented in jobs that are repetitive.
RPA is the most sought after technology to deal with repetitive tasks that are inherent in any company. RPA are based on specific algorithms that allow near-perfect execution of these tasks without any errors.
Even so, there are still companies that are skeptical about it. These doubts arise from the fact that there are companies that have implemented RPA and failed. These failures have also cost them massive financial loss.
The reason for these failures was mainly implementing RPA in the wrong processes. Not fully understanding how RPA works and other technical issues.
To counter these, they had to hire an expert in the field as well. That would cost the companies more. So they decided not to be a part of the RPA system.
Just like in any field, it is mandatory to keep updated about the changing trends and adapt. RPA became something of that nature. Companies with RPA have profited largely when compared to companies without one.
Now, with research and development in this field, things have changed. Now, you don’t need heavy knowledge of coding and such to make it work. Things have become simple.
However, finding the right job for RPA still remains an objective that should be carefully dealt with.
Why Industries Need RPA?
What is the need for RPA if the employees are still able to do the job? Is implementing RPA a financially sound option?
Even though these are basic jobs, they are needed to be done carefully. These jobs essentially lay a foundation for the business as well.
So it’s important to make the output from these jobs perfect. And that’s exactly what RPA does.
How RPA Helps in the Financial Status of a Company?
A system can only be beneficial to a company if its implementation funds can be taken back by means of profits. Or if the overall benefit is worthy for the money invested. The same goes for RPA because the primary installation of RPA is a bit on the costly side.
Analyzing how it will help the company, the profits that can be made etc. play a significant role in successful RPA implementation. Successful implementation results in benefitting the companies financially.
Let’s see how RPA can financially help companies:
- RPA does the same job as employees. However, RPA reduces the mistakes in the work to a huge margin compared to human workers. It will end up getting more customer conversion.
- Another fact is that these repetitive tasks follow a similar way of functioning. It’s easier for a machine to replicate it no matter the number of times. It will free up the employees who can then be given jobs that cannot be handled by RPA.
It cuts the cost of companies by avoiding hiring extra men for work. They can do their job with the resources they already possess.
- Jobs that involve critical thinking, reasoning etc. (the human attributes) cannot be perfectly done by a machine so far. It still requires the human element. So while RPA deals with the hard work part, humans can focus on the thinking part.
- RPA implemented industries had reported about 50-70% cost savings compared to when they didn’t have it.
- Customer service gets better with RPA. Instant replies, clearing doubts. Clearing doubts etc. makes the customers much more inclined to the company compared to others.
- The risks involved with RPA are very less. If everything depended on the employee and he were to take a leave, it would affect the whole system company adversely. RPA always does the job without any leaves. Constant working and profitable outputs make it more desirable.
- Implementing RPA is a breeze. It doesn’t require the company to change the whole digital ecosystem. It can be installed with replacing none of the existing systems.
How implementing RPA affects Employees
So, what does RPA do? It does the job of other people. So what does that mean to employees?
The greatest fear of employees when it comes to machine implementation is the risk of losing their jobs. That is the case with many of the technological advances.
With machines able to do most of the work humans can do, more efficiently, it is common that some employees are laid-off.
However, with RPA, that is not the case. RPA requires some human interaction as well to function at its best.
It should be updated with the algorithms as marketing plans change. For these updations, human presence is an absolute necessity.
There are also cases with semi automation, which requires the confirmation of a human manager.
Let’s see some of the benefits to the employees:
- The workers are freed of heavy and monotonous work. Even though RPA automates repetitive jobs, it cannot be implemented in every field. So the workers can focus their energy and time on other tasks.
- Since RPA cannot do reasoning or critical evaluation of a situation, it’s common for semi-automation in workplaces. Semi-automatic processes ask for confirmation from humans for crucial works.
It requires employees as an integral part of making decisions. It is a perfect example of machines and humans working hand in hand.
- Monotonous works that require a high level of concentration can be tiring. It can lead to work-related stress. It is the common cause of all health issues. Health issues of employees can lead to more funds for health insurance, more leaves resulting in less productivity.
RPA reduces workload. Less workload makes the employees stress free. Being stress-free helps a lot with the mental and physical health of the employee and work satisfaction. It leads to much more productivity and fewer absentees.
Current Situation of RPA in Companies
RPA is gaining popularity among companies and employees equally. Analyzing the growth of RPA markets, it’s only fair to say more and more companies are turning to this system.
Most of the Multinational Corporations (MNCs) have already implemented it in their systems.
Even though RPA cannot improve work processes like an AI system, the profit rates of RPA implemented industries are more on the rise. All these data points to the success of the system in general.
These are some of the reasons why RPA has gained attention even though it’s a new concept. There are companies that have not yet implemented these services.
In the future, we will be seeing most of them having these automation services due to its strong points.
These processes negate the idea of “domination” by Artificial Intelligence. It shows us the benefits of how machines can help humans in making our lives easier.