Businesses in the digital era are reaping the benefits of robotic process automation. With around 80% of finance leaders implementing or planning to implement RPA and more than 90% of C-level executives reporting some level of intelligent automation already exists within their organizations, adopting new digital technologies plays a massive role in strengthening and transforming companies around the world. However, RPA implementation remains a challenging feat.
From our experience, over the past year, there has been intensifying interest in robotics and the application of cognitive and artificial intelligence technologies. Connections Consult team of RPA specialists has consolidated the top 5 most commonly asked questions while researching RPA and RPA implementation:
1. What does RPA stand for in technology?
RPA is an acronym that stands for “Robotic Process Automation.” It represents a software solution that does not involve physical hardware. In other words, bots can execute repetitive tasks that a human does on multiple systems and platforms. Actually, RPA takes over many of the responsibilities employees dislike most. Adopting RPA to reduce monotonous tasks can precipitate a happier and more productive workforce.
2. Why automate business processes and free humans? Doesn’t that lead to job losses?
Maybe you’re thinking: ”Sure, automating processes is good for businesses, but what about the people doing the work? They may not like the mindless and repetitive parts of their jobs, but they don’t want a robot to replace them.” Contrary to popular belief, RPA creates new possibilities and opportunities instead of eliminating jobs. For workers and employers.
3. What’s the difference between RPA and macros and scripting?
While some features are similarly shared by macros and RPA, others are unique to Robotic Process Automation. According to UiPath, a macro is a short code sequence that automatically expands into a set of instructions to perform a single task. Unlike a macro, a robot can act autonomously to use and orchestrate any application, from mainframe and legacy applications to closed third-party APIs.
Macros have limited scope to what they can automate because it is difficult to link them with products outside the Microsoft Office suite. When working with non-Office programs, we often face problems that cannot be dealt with by macros alone. However, because RPA can be integrated with other applications, it’s suitable for automating more tasks within a single workflow.
4. Do you need help implementing and maintaining RPA?
RPA can be a challenge for some businesses. It requires a significant change to the way your business operates. RPA installation itself can be straightforward and not dependent on your other existing systems or have demanding infrastructure requirements. RPA comes in several forms ranging from a quick record-and-play bot to a complex algorithm with multiple branches of scenarios covering several permutations of cases. In the current, constantly changing business environment, businesses need to constantly adapt their processes and products to stay on top of the competition.
To successfully harness the benefits of RPA implementation, there must be process improvements, internal controls, etc. RPA performs best with a good operating model.
5. Can RPA be accessed by outsourcing?
Your business can still reap the benefits of RPA technology even if you are not prepared to invest in an in-house digital transformation process. Collaborating with an outsourcing RPA company, you’ll have access to RPA software to help convert financial processes from manual to automated procedures.