Data from the IBM (Institute for Business Value) report on Covid19 and the future of business reveals that 60 % of businesses say COVID-19 has “adjusted our approach to change management” and “accelerated process automation,” with 64% acknowledging a shift to more cloud-based business activities. These are just two examples of the many changes that are happening in the world and how they’re impacting businesses.

Technology has always been a driver of change, and it’s more important than ever for businesses to embrace new technologies as they come out. Technologies like cloud computing, Artificial Intelligence (AI), and the internet of things (IoT) are changing the way businesses operate, and it’s essential for businesses to embrace these changes in order to stay competitive.

Robotic Process Automation is another example of a technology that’s rapidly changing the business landscape. RPA is a form of AI that uses software to automate manual tasks, and it’s already being used by businesses all over the world to improve efficiency and productivity.

In this article, we’ll discover how this new technology is changing the business landscape and how you can embrace it to improve your business.

Robotic Process Automation (RPA) is a form of artificial intelligence that uses software to automate manual tasks. RPA software is programmed to mimic the actions of a human user, and it can be used to automate a wide range of tasks, including data entry, transcription, and customer service.

RPA is becoming increasingly popular among businesses because it’s a cost-effective way to automate tedious and time-consuming tasks. It also helps businesses improve efficiency and productivity by allowing employees to focus on more important tasks.

Consider the process of onboarding a new employee. This process often involves tasks such as entering the new employee’s data into a system, setting up their email account, and creating a user profile. All of these tasks can be automated using RPA software.

RPA software can be programmed to automatically enter data into a system, create email accounts, and set up user profiles. It can also be used to automatically generate reports, format documents, and process invoices. In short, RPA can automate just about any task that can be performed manually.

There are many benefits of Robotic Process Automation, including the following:

•  Improved efficiency and productivity 

It allows employees to focus on more important tasks, which improves efficiency and productivity.

• Cost savings 

RPA is a cost-effective way to automate tedious and time-consuming tasks.

• Increased accuracy

 The  software is highly accurate, which reduces the likelihood of human error.

• Improved compliance 

RPA helps businesses automate compliance tasks, such as data entry and transcription, which helps ensure compliance with regulations.

Every business is different, and not every business will have the same needs when it comes to robotic process automation. That said, most businesses can benefit in some way or another.

Here are a few examples of how businesses from different industries can leverage this solution:

1. Retail

Retail is a competitive industry, and businesses in this industry need to find ways to improve efficiency and productivity. RPA can help retailers do just that by automating tasks such as data entry, order processing, and inventory management.

Consider the task of order processing. This task often involves verifying customer information, adding items to the cart, and calculating shipping costs. RPA can automate all of these tasks, which helps reduce the time it takes to process an order.

Inventory management is another area where RPA can help businesses in the retail industry. Retailers often need to keep track of inventory levels and stock shortages. RPA can be used to automatically update inventory levels and generate reports on stock levels and shortages.

2. Banking and Financial Services

Banks and other financial institutions can use RPA to automate tasks such as customer service, account management, and fraud detection.

Automating customer service tasks can help financial institutions improve the customer experience. RPA can be used to answer customer inquiries, process transactions, and update account information.

RPA can also be used to manage accounts and detect fraud. Account management tasks that can be automated include adding or deleting accounts, updating account information, and issuing statements. Fraud detection tasks that can be automated include identifying fraudulent transactions and verifying customer identities.

3. Healthcare

Healthcare providers can use RPA to automate tasks such as data entry, transcription, and billing.

Data entry is a common task in the healthcare industry, and RPA can be used to automate this task. RPA can also be used to automate transcription tasks, which can help providers improve accuracy and speed up the transcription process.

Billing is another task that can be automated using RPA. This task often involves processing claims, calculating reimbursements, and submitting invoices. RPA can automate all of these tasks, which can help healthcare providers save time and money.

4. Manufacturing

Manufacturers can use RPA to automate tasks such as inventory management, quality control, and production scheduling.

When it comes to quality control, RPA can be used to automate tasks such as quality checking, defect detection, and statistical analysis. This can help manufacturers improve product quality and reduce the number of defects.

Production scheduling is another task that can be automated using RPA. This task often involves creating schedules, allocating resources, and predicting demand.

5. Sales

Sales professionals can use RPA in a sales order automation and contract management process follows ups, invoicing, reporting, and more.

For instance, based on the existing CRM system, bots can be used to:

• Send proactive emails to clients (such as “Thank you for your order!”)
• Create a sales pipeline and track stages of the sales process
• Generate quotes and invoices
• Update contact information

6. Human Resources

HR departments can use RPA to automate tasks such as onboarding new employees, payroll processing, and benefits administration.

• Onboarding new employees is a time-consuming task that can be automated using RPA. RPA can be used to create and track employee files, input employee data into HR systems, and generate welcome letters.
• When it comes to Payroll processing, the task often involves calculating wages, issuing paychecks, and preparing tax forms.
• Benefits administration is another task that can be automated using RPA. This task often involves enrolling employees in benefits plans, tracking employee eligibility, and processing claims.