What Does RPA Mean? Here's The Answer

Basic tasks take important time from businesses. Fortunately, there is a thing called RPA. What does RPA mean? Let’s find out.

Time is very important for business owners. Every day feels like a busy day. However, such precious time may not be put on more important matters? How so? 

Simple tasks like taking received forms or filing the form in a folder take time. As result, employees are getting deprived of the more important time. Moreover, such time could be used for serving clients and higher-value work.

With that in mind, CIOs are turning to software robotics. It is called robotic process automation or RPA. However, RPA requires proper design, planning, and governance. Those are needed for the RPA to be effective. What does RPA mean? Let’s find out.

How Does RPA Work?

RPA uses software with artificial intelligence and machine learning capabilities. For what reason? To handle high-volume yet repetitive tasks. These tasks previously require manpower. Some examples are queries and file management.

In simple words, RPA works like humans. These robots capture data and manipulate applications like us humans. It can be taught a workflow with multiple steps and applications. Furthermore, these RPA robots/software never sleep. Moreover, they make ZERO mistakes.

Three Types Of RPA

Practitioners divide it into three categories, namely:

Probots

These are bots that follow simple and repeatable rules. They are mostly tasked to process data. 

Knowbots

Knowbots gather data from the Internet. Afterward, they store the collected user-specified data.

Chatbots

If you regularly browse the Web, you probably always encounter chatbots. These are virtual agents that can respond to queries in real-time.

Moreover, these robots are not part of the company’s IT infrastructure. Instead, they sit on top of it. These allow the company to use technology more effectively. Additionally, that can be done without changing the existing infrastructure and systems.

Difference Between RPA and Traditional IT Automation

It can adapt to changing circumstances, exceptions, and new situations. Moreover, it is non-intrusive. It also leverages the existing infrastructure without replacing it. Furthermore, it doesn’t cause disruptions to underlying systems. As a result, the company saves time and money.

Benefits Of RPA

Let’s ask this question again: what does RPA mean? Does it benefit businesses? Absolutely! 

It enables organizations to reduce staffing costs and human error. For example, the bank Deloitte LP deployed 85 bots. These bots will run 13 processes. As a result, they handle 1.5 million requests per year. That work is equivalent to work done by 200 full-time employees!

Moreover, it improves customer service. For example, a trade insurance company automated the credit limit underwriting process. This company has 50,000 clients worldwide. Before, underwriters manually gather information from internal to external sources. 

Thanks to RPA, they saved 2,440 hours of human work per month. As a result, employees now use that time to work directly with customers.

To sum, it works like a digital assistant. It provides better customer service and faster processing time. Moreover, it makes companies more efficient by digitizing data. It also enables companies to save money from costs caused by employment. Additionally, it allows employees to be more productive.

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