What is Robotic Process Automation?
RPA allows automation of the human tasks that are done on a computer, thereby reducing the time for the task to be done, reducing or eliminating the effort required by a human being, reducing the costs associated with the execution of the task and increasing the quality of the work done.
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Robotics Process Automation
In corporate finance, automation changed the game. Accountants and other financial professionals once tasked with manual processes and number-crunching were freed up to focus on more strategic initiatives.
Robotics process automation (RPA) is a recent favorite among some B2B FinTechs. Corporate accounting software company Gappify, for instance, announced only weeks ago that it is rolling out an RPA-fueled bot to automate many accounting processes — that is, to automate processes without requiring human intervention to initiate that automation. RPA-based solution to help companies more easily access data stored within on-premise ERP systems.
ADF Framework Consists
- What is Robotics Process Automation?
- Alternate to Outsourcing and Offshoring
- An opportunity to automate repetitive, rule based manual processes
- An opportunity to get better and faster return
- However, not necessarily easy – it requires a well-defined, structured project with appropriate scope, budget, team, timeline, etc.
- Initial research and kickoff:
- Work with various vendors (tool providers and system integrators or solution providers) to thoroughly understand this technology.
- Partner with various business groups to get an initial list of potential use cases for pilot
- Acquire free pilot licenses
- Negotiate free services from solution providers
- Work with various stakeholders to educate them and manage their expectations regarding RPA, and its usage as compare to the traditional automation
- Some of the sectors where RPA can be implemented
- BPO Non-Voice sector
- Business Support Services like Finance, HR, Admin, Sales, Marketing, etc.
- Data Analytics will see a lower but sure impact.
- All areas where compliance and reporting are major needs.
- IT will face a lot of impact as IT itself is the enabler of automation.
- BFSI will see a major impact (the department focused on cost reduction).
- Insurance is already on the way towards automation.
- SAP users will see a lot of automation and major impact on people.