What is robotic process automation meaning in today’s business? Well, you can only know by knowing what RPA truly means by context.
In this article, let us discuss what RPA means in today’s evolving business landscape. Also, we will be discussing what drives companies in believing RPA. By knowing these factors, you will then know how to rightly implement this technology in your own business.
What is Robotic Process Automation Meaning
Robotic process automation (RPA) is the technology that mimics how a human works in the software. These works or tasks are most often rule-based, in high volumes, and repetitive in nature.
The most common tasks that an RPA bot can perform are the following:
- Log applications
- Enter data
- Calculate & complete tasks
- Migration of data between applications
Although these tasks somehow appear simple and basic, when done repetitively, these most often result in more human error. Not to mention that repetitive tasks also degrade human productivity.
Besides, RPA technology can also be integrated with artificial intelligence (AI) and machine learning (ML). As a result, RPA can do more than just the context. It can extract entities like invoice terms, addresses, names. All of this is possible through natural language processing (NLP). Not to mention that it can even automate the estimation of accident damage in an insurance claim picture.
Because of this, RPA is growing in more popularity. Not only that it streamlines business processes and operations. But RPA reduces business costs while driving a better customer experience.
Lastly, RPA can evolve and transform a business without interfering with the existing systems. Which makes it an ultimate attraction for business leaders.
Challenges of Robotic Process Automation
However, adapting to this new technology also has its own set of challenges and limitations. Below, we will be listing the following. Perhaps knowing these beforehand can help you manage your expectations from implementing the technology.
1. Hard to Scale
One of the most common challenges with RPA is the limitation it brings with scalability. Although it is true that RPA systems are easy to implement, RPA is hard to govern. As a result, implementing it can be a bit of a challenge in management and in scalability.
2. Limited Capabilities
Stitching multiple tasks in a single process is a bit complex. This is where RPA often creates its own limitations. This is why experts suggest observing the “rule of five” in building applications. By doing so, you can avoid the tendency of a bot to break.
3. Poses More Security Issues
In order to operate, bots need to gain sensitive information in completing tasks. For instance, data is compromised, then this is an additional security issue for organizations.
RPA can be both promising and challenging at the same time. So gaining a balanced perspective in between can help you better manage the implementation.
Apart from its challenges, RPA is being useful in many business cases. For example, in healthcare, human resources, supply chain management, customer service, financial services, and accounting.
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