Robotic Process Automation (RPA) streamlines workflow and makes the organization profitable, flexible, secured and responsive. RPA process has helped many industry leaders to shift to digital transformation with ease. RPA ecosystem is the fastest-growing segment of the global enterprise software market. The global RPA market size was already valued at $1.40 billion in 2019 and is expected to reach about $11 billion by 2027, expanding at a CAGR of 34% by 2027.
RPA automation solutions has helped many industry leaders observe a significant increase in their profit. This Robotic process automation software automation software diverts employees’ time in more specific tasks and frees them from repetitive manual tasks which can be done with bots. RPA increases employee satisfaction, engagement, and productivity.
Robotic process automation services has gradually started to dominate operations in the manufacturing industry, while the service sector has already begun to thrive with its presence. RPA has brought a wave of digital transformation. As a software application, RPA aims to set free human operations from repetitive tasks to boost efficiency and accuracy in a secured environment. RPA lends itself to common tasks across the business, such as processing invoices, setting up suppliers, human resources, and some areas of customer service all under one roof.
RPA offers tangible benefits to industries with its simple processes, secured environment, reducing cycle time and minimizing the human workload. Let us dive deep into the three industries that Robotic process automation (RPA) software has changed:
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Due to rapid technological advancement, E-Commerce is undergoing a significant transformation to upgrade its digital processes to stay up-to-dated in this customer-centric market. E-commerce stores are looking to deliver better products, value, and service to the market. The operational efficiency of any company can be achieved by opting for RPA. This helps by identifying and understanding the customer requirement and staying ahead in evaluating their choices. This improves customer personalization by integrating RPA with chat bots, which in turn helps in attending to customers more efficiently. With RPA in E-commerce, self-service options could be provided for a better shopping experience.
- Payment processing: E-commerce deals with numerous processes, and payment is one of them as it involves customer’s money and requires a secured transaction. Payment processing involves various actions such as financial filings, accounts payable and accounts receivable, account reconciliation, etc., and must be carried out securely. RPA helps E-commerce businesses unite all payment procedures securely in a single mechanism for seamlessly working across channels.
- Customer support and personalization: RPA lets e-commerce marketers delight the customers and promote conversions. Searching product information, automation of order placing, etc., are related to customer interaction and offer better user experience and increased customer loyalty. RPA speeds up the processing time and ensures information is collected and communicated error-free. This also releases the human workforce to deliver personalized customer support.
Once the bots process all tedious tasks, it sets humans free, solves problems, and drives innovation to personalize the customer experience at a faster turnaround time. Personalization is a game-changer for boosting e-commerce conversion rates. Sending personalized messages or retargeting them with the right ad messages when they are searching for a particular product, shows that your business understands the unique customer requirements.
Considering healthcare automation, RPA has the ability to make a severe impact in the healthcare industry. RPA ensures patients receive better care as staff is freed from performing more administrative work. From improving patient experience to enhancing healthcare procedures, RPA in Healthcare serves to be an advanced technology software leading the Industry towards a brighter future. Let us see how RPA has impacted healthcare:
- Improved patient experience: Healthcare practices have more time to deliver real-worth treatment by automating time-consuming tasks such as scheduling appointments, data digitalization, etc. This also benefits patients with reduced appointment waiting time and offers an opportunity to access medical records and bills online.
- Improved billing time: RPA simplifies the payment processing by sending reminders and offer an online medium for financial procedures.
- Effect on healthcare supply chain: Healthcare practices relying on RPA have observed improved efficiency due to menial tasks performed by bots. This helps them to redefine the jobs for staff and allocate them to high-value activities. RPA helps in reducing the cost and human errors, thus increasing quality and enforcement.
- Claim administration: This is one of the time-consuming tasks of healthcare practitioners as this involves submitting, evaluating, and updating claims. RPA allows healthcare practice to become the frontline in the claim management digitization movement.
RPA in banking allows the customer to securely process payments, deposits, withdrawals, and other banking transactions with no human intervention. Banks use RPA to perform tedious manual tasks such as data entry and customer service. Banks implement RPA, elevating the customer experience while improving quality and reducing operation costs. Let us have a look at how banks benefit from RPA:
- Saves Time and Money: Implementing RPA in different operations and departments makes banks execute processes faster. Banks can save up to 75% on certain operational processes while also improving productivity and quality. This also leads to helping existing employees become more effective.
- Improve processes: Digitization data has allowed banks to reduce paperwork. RPA scans relevant information and makes strategic data analysis. Bots can also take care of data entry, payroll, and other tasks, thus allowing them to focus on more strategic work.
- Improve customer experience: RPA in banking enhances the customer experience. Customers do not need to reach out to staff to address any issue. Robotic automation process software quickly analyses customers' challenges and answers their queries. RPA specific tools handle customer issues with ease to improve customer satisfaction. RPA can also reduce loan processing time, which leads to happy clients.
By embracing RPA, different industries can improve their customer experience by improving efficiency. Increased automation makes daily tasks easier for employees as they spend less time performing tedious manual tasks and more time on profitable projects.
Calpion Inc. is a Dallas-headquartered technology company that specializes in providing innovative solutions. From creating robust analytic tools to developing cloud-based applications, Calpion is well known for delivering solutions to keep pace with the latest advanced technologies.
If you’re interested to know more on how Calpion can help you automate your workflow process and move you ahead of your competitors, schedule a consultation with us now.