How does robotic process automation work for SMBs?
Robotic Process Automation Market in Surge
Just how fast does the robotic process automation (RPA) market grow? In 2016, the RPA market was already worth more than $270 million. In just a few years, in 2020, the market reaches $2.5 billion. How big of an increase it has!
On the other hand, today, the RPA market is also in surge among small to medium businesses (SMBs). Not to mention that this adoption is surpassing most expectations. As years grow, SMBs and alike are seeing the need for RPA adoption.
If you are an SMB-owner, how can you get started with RPA? Which processes and operations can RPA better serve you? In this post, we will be listing the ways where RPA can hit SMBs.
How Does Robotic Process Automation Work for SMBs
1. Revamp Customer Service
Dealing with hundreds of customer complaints manually can be daunting and time-consuming. Not to mention how customer satisfaction reduces the longer you respond.
On the other hand, with RPA, customer’s concerns can be addressed in real-time. Perhaps concerns can be grouped and have pre-determined courses of action accordingly. This way, resolving matters are quicker and more efficient.
2. Invoice Processing
Automating invoices can also improve your customer’s experience. It will take less time to process invoices because bots can do the job instead. Moreover, invoicing is primarily best for automation since it is rule-based and repetitive in nature.
3. Improve Productivity
Employees are now hired not only to spend 8 hours inputting and gathering data. Because with RPA, the bots can do the job instead.
Besides, bots can do the tasks without tiring out without compromising the quality of work. Bots can work 24/7. So workflows continue even when you are away.
4. Hassle-Free Onboarding
Another mundane and repetitive task is employee onboarding. But with RPA, automation can automate the sending of offers. When an employee’s account is created, it triggers an automated workflow to proceed with the process.
Not only does it lighten the onboarding processing, but it also reduces the amount of paperwork HR staff are used to deal with.
Automating payroll processing can serve your HR staff very well. For example, RPA can standardize payroll processes.
- Writing checks
- Issuing salaries, overtime, commissions, bonuses, raises, wage deductions
- Calculating expenses
- Attendance management
These processes are rather automatable. Thus, letting HR staff focus on tasks that need them more.
6. Centralized Data Repository
Storing and sorting through massive data can be both tedious yet necessary even for SMBs. This is why this task appeals mostly to RPA. Because RPA can manage your data all around the clock. RPA can streamline data storage and transmission, for instance.
7. Data Analytics
Data gathering and analysis can be time-consuming and more prone to errors. However, with RPA, bots can ensure to deliver high-quality and useful data.
Bots do excel in this. They do so by how you configure rules in them. So the kind of data they extract is according to what you filtered.
By doing so, you get the data that you only need in less time. These data, in return, can serve as valuable insights in improving internal processes or customer service, for instance.