Robotic Process Automation (RPA) Design and Development V3.0 (Lesson 2)

 Today we will continue with lesson 2 on our RPA tutorials, you can read through from the previous topic for a better understanding.

 

LESSON 1: Robotic Process Automation (RPA) Design and Development V3.0 

 okay guys, let's go on today's teaching.

 

Overview of RPA and Emerging Ecosystem

Several technologies are emerging in the RPA ecosystem:

• Process mining: It refers to the analysis of business processes based on event logs.

By using data from business applications

• Intelligent OCR: Intelligent character recognition is a derivative of the classic Optical

Character Recognition and allows the user to extract data from documents. It equips

RPA with the capability to automate the more difficult cases where unstructured and

semi-structured content is involved.

• Reporting software: The reporting software gives insights into how robots perform.

These are useful for Business Intelligence and Management Information systems.

• Workflow management tools: These tools provide seamless workflow between

humans and robots. For example, Business Process Management tool

In addition to these, components are being developed and traded on platforms like

UiPath such as UiPath Marketplace!

Visit https://connect.uipath.com/marketplace for more information.

 Overview of Industries best-suited for RPA

RPA solutions are being deployed in various industries globally. Some of the industries

that benefit from RPA are:

• Banking and Finance: This industry benefits considerably from RPA as it helps them

to strengthen their compliance processes. RPA deployment helps in achieving

operational efficiency and provides better analytical insights. Processes such as retail

credit assessment & fraud prevention and account settlement & payment clearance are

already automated.

• Insurance: RPA solution provides streamlined compliance underwriting. The quick

processing of tasks by robots has speeded up the claims management process thereby

enhancing customer experience and satisfaction. The operational costs are also

reduced accordingly. All this had enabled the organizations to get better customer

insights and analysis from the RPA solutions.

• Healthcare: RPA solutions are used to streamline the front and back-end office

operations. As the applications are integrated into RPA solutions, the processes can

work seamlessly without any manual intervention. This leads to enhanced patient record

confidentiality.

• Manufacturing: RPA solution facilitates reporting and administrative tasks. It provides

benefits in areas like Bills of Materials, front office experience, back-office operations,

etcetera, thereby lowering the operational costs.

• Customer Service: RPA provides numerous benefits like better data integration and security and enhanced visibility of service provision. It also enables the organization to handle seasonal volume spikes and combine services with flexible integration. All this leads to streamlined collections processes.

• Travel/Transportation/Logistic: RPA helps in streamlining the order management process, enabling real-time access to customer information and linking external supply chain applications to internal tools. RPA implementation optimizes the order distribution cycle and thus ensures seamless and error-free operations.

 

  Business Units best suited for RPA

Every organization comprises of various business units and each unit follows multiple

processes. Some of the business units where RPA can be used for automating the

processes are:

• Sales

• Human Resources

• Operations

• Information Technology

• Supply Chain

• Finance & Accounting

 Attributes of Processes best-suited for automation

To choose a process for automation, identify whether a process follows certain

attributes to make it fit for automation. A process is best-suited for automation if it is:

• Rules-Driven: Processes that are rules-based and consistent.

• Voluminous: Processes that have high volumes of transactions.

• Data-Intensive: Processes that require lots of data manipulation and crunching.

• Repetitive in Nature: Processes that involve manual and repetitive tasks.

• Driven by Digital Inputs: Processes that begin by receiving data through digital files.

 

 Examples of Business Processes for automation

After identifying the processes suitable for automation, here are some examples of the

processes that can be automated:

• Customer onboarding

• Vendor onboarding

• Material master management (creating/updating)

• Sales order creation

• Invoice processing

• Bank reconciliation

• Payment allocation

• Purchase order processing

• Order fulfillment

• Cash allocation and reporting

All these processes exhibit some or all the features of processes suitable for automation

as discussed and can easily be automated using RPA.

  

 Summary

 Please let me know if there is anything else I can do for you! All questions and comments are welcome. If you enjoyed reading this post please share it with others using one of those social media sharing buttons below or leave me a comment down below! Thanks again for reading and have an awesome day.

see you in next class!!!