“In our banks, we have people behaving like robots doing mechanical things, tomorrow we’re going to have robots behaving like people”
– John Cryan, CEO, Deutsche Bank, Sept 2017.
Could your back-office benefit from 24/7 error-free accounting and invoicing; correctly routed Purchase and Work Orders; controlled inventories and Human Resource Workforce planning, and Enhanced Customer relationship management?
You can use RPA for almost anything you do. Paying suppliers? Done in minutes. Creating Invoices and sending them to customers? No longer a challenge. Controlling inventories and supplies? Easily managed. Sending mass mailings? Easy as pie. Onboarding and HR Management? Headache-free. Higher sales and better customer relationship management? Absolutely and in ‘Real-Time’. Controlled, accessible and safe data? Believe it. Happier employees? Keep reading.
Every business needs to sell to survive. By automating the entire sales operation process which relies on your company’s structured and unstructured data, you eliminate human errors and provide lightning-speed service to your customers. To accompany the sales, invoices can be sent on time to improve cash flow. Since procure-to-pay processes involve extricating invoices and payment data from multiple systems such as ERP, customer relationship management (CRM), vendor management systems (VMS), and other applications that are legacy and without integrations, the entire procure-to-pay process or parts of the process is manual; therefore, a significant amount of time is spent reconciling data from those disparate systems. These repetitive tasks are not only time consuming but error-prone. RPA bots can fill the integration gaps since they work on the front-end and provide a seamless way to automate your integrations. This allows for best practices to be followed, and there is a single-source truth for activities with a readily defined audit trail. With this audit trail comes improved data analysis which streamlines decision making and further advance business processes.
Company data constantly changes, from HR and personnel files to customer contacts and vendor payment details. RPA bots can auto-update relevant data from forms or emails, ensuring that all departments have access to fresh and correct data instantly. Screen-scraping and basic-form pattern-recognition technologies enable data extraction from almost any format, reducing the need for mundane human data entry and human data entry errors.
Stakeholder Reports are tedious to produce. Gathering data from multiple systems is painful and often times the data is outdated and contradictory. RPA bots generate data and send reports with higher frequency and better accuracy. While Company Reports can be auto-generated based on set requirements, RPA bots can analyze report content and modifying recipients according to the provided criteria.
For Sales and Customer Relationship Management, RPA bot can update Customer’s files with recent transactions, customer support issues, and previous interactions. With an RPA bot programmed to retrieve that data, your customer’s history or payment data can be invoked in seconds with a single click from the sales rep.
Onboarding and employee file management; payroll and company tax reporting is a major headache for any growing company. Most of these tasks are repetitive, mundane and prone to human data entry errors. RPA bots can simplify and tailor the process beginning with candidate searches, resume data scraping, background screening, employee onboarding, granting employee access to systems, timesheet and payroll processing, and tax filing.
For companies with inventory, inventory management typically involves reconciliation across multiple systems as companies find it challenging to bring all inventory management features under one system. RPA bots can automate such inter-system reconciliation and communication with ease. For some companies with large lot inventories, drones connected to RPA bots can process and update inventories in minutes rather than hours or days.
Having reviewed all these back-office RPA possibilities, what are the benefits of RPA for your company?
- Accelerate growth and cash flow: Back office processes hold back your service speed and growth. Processing invoices faster mean faster payment and increased cash-flow.
- Reduce errors and other manual errors: One of the greatest benefits of automation is that machines do not get distracted!
- Have updated data all the time: bots can collect refresh datasets constantly and support faster decision making with a click of a mouse!
- Get detailed and accessible insight into your company’s overall health. Predictive algorithms and visualization technologies enable seamless oversight, planning, and decision-making by planners and analysts.
- More efficient reports and streamlined business. Advanced analytics illuminates connections and trends buried within data for more detailed, accurate, and efficient reporting.
- Human contact with sensitive data can be minimized, reducing the probability of fraud and compliance issues.
- A clear Audit trail is maintained, allowing detailed audit should issues arise.
- Enables increased efficiencies and lowers operating costs –RPA computing capabilities simulate human intelligence, grinding through mountains of data to automate insights quickly, accurately and generate reports in real time.
In addition, the benefits of RPA are huge for employees. Employees welcome the technology because they hate the tasks that the robots now do. Employees will have more interesting and varied work to perform. Every organization is dealing with bigger workloads, there are exponential amounts of work to match the exponential increases in data. There are also massive increases in audit regulations and bureaucracy. Robotic Automation will relieve the stress that this creates in organizations.
To learn more about RPA and it’s benefits and use cases, please download our implementation guide below.