Robotic Process Automation
Introducing Automation at low cost and with near-zero risk
Robotic Process Automation (RPA) is a software technology that is simplified and makes it easier to build, deploy, and manage software robots that emulate human actions interacting with digital systems and software. The concept is simple: a software “robot” replicates routine human-computer interactions, automating what would otherwise be tedious, repetitive tasks.
Just like people, software robots can do things like understanding what’s on a screen, complete the right keystrokes, navigate systems, identify and extract data, and perform a wide range of defined actions. But software robots can do it faster and more consistently than people, without the need to get up and stretch or take a coffee break.
Some of the tasks that can easily be handled by the Robots:
- Log in to any application
- Read and write to databases
- Connect to system APIs
- Open emails and attachments
- Move files and folders
- Scrape data from web
- Extract content from documents, PDFs, emails and other forms
- Make calculations
RPA can help you with
Manual labor-intensive tasks
Repetitive manual (usually low value and high volume) work often arises from legacy systems that are inflexible and not integrated into other areas of bank systems. This leads to low job satisfaction, morale and productivity, as well as a lack of freedom to do more important work like solving problems or adding value to customer interactions.
Legacy systems
In many cases [ERP systems] force companies to re-engineer their business processes to accommodate the logic of software modules for streamlining data flow throughout the organization.
Paper-based documents
Many accounting documents such as invoices, purchase orders, expense statements, and even checks, are still processed on physical paper.
Unstructured formats and natural language
Once the data has been extracted, it often takes the form of unstructured information or consists of natural language that is understood by humans but is not easily used by most software.
The fitness criteria for choosing which processes to automate
- Highly manual, repetitive and high-volume process
- Rule-based process
- Low exception rate (low variation between processes)
- The inputs must be electronic or machine-readable
- The processes and their underlying Applications must be stable
RPA is enabling us to do more with less
Digital labor in the form of RPA can supplement and augment the human workforce, it allows people to achieve more with fewer resources in less time.
- Higher efficiency
RPA brings reduced cycle time and enhanced productivity to the table, thanks to its ability to work 24/7. - Advanced analytics
With RPA making, gathering and organizing data easier, you can predict future outcomes and optimize processes. - Greater performance and quality
Robots work consistently and tirelessly, and ensure greater accuracy, resulting in high-quality output. - Lower cost
To replace a full-time employee with software (RPA) can bring about 25-50% cost savings. - Non-invasive technology
There is no need to rewrite legacy software. A robot is like any other worker, carrying out tasks by using the same applications as you do.
Give a try to RPA
Select a few simple tasks to automate based on fitness criteria and assess how much time each takes across the business
Record the steps of the tasks using RPA and adjust it after initial checks
Put robot into production for a trial period
Measure results, analyze the impact on business and employees and asses gains and savings
