Operating Cost Reductions
In Your Business
How does RPA do that?
Robotic Process Automation (RPA) is the automation of back and front office processes that are largely rules based, structured and repetitive. The automation replaces or augments humans normally performing the task with “robotic” equivalents. These are software robots and not physical ones.
Companies that don’t embrace RPA will experience significant disadvantages in their markets and profitability.
Robotic Process Automation (RPA) has achieved a significant level of maturity in the business world. This has been driven by the release of multiple sophisticated software solutions not previously available and also by the growing demand for organizations to optimize operating costs and to increase quality of services.
Cost savings of approximately 90% can be achieved when a business process performed by a full-time equivalent human is replaced by a software robot. Unlike their human counterpart software robots make less mistakes, don’t complain and work 24×7 if required.
RPA has been cited as an example of what economists are calling, the ‘Fourth Industrial Revolution’. The need to take action is further reinforced because of the increasing economic pressures inflicted on organizations from digital disruption.
Examples of how your company can reduce operating expenses with RPA.
Just some examples of how to reduce operating expenses in your business:
- Simplify customer document verification,
- Guarantee on-time billing and fast payment processing,
- Simplify data entry with OCR technology,
- Increase First Call Resolution (FCR) rate (the most commonly watched metric in a customer call or support center)
- Automate data format transformation,
- Optimize customer onboarding/offboarding process
The list of processes that can be automated does not always require high volume of work to justify the business case. Software based robots can be multi-skilled and can be shared in a department to undertake multiple low-value, but essential processes.
In logistics and supply chain
Robotic automatization in logistics and supply chain improves company efficiency. Time-consuming processes optimized with RPA software, in the area of inventory management, supply and demand planning, or freight management are drastically improving the business effectiveness and profitability.
In which areas logistics industry can get the most from robotic process automation.
- Scheduling and tracking shipments,
- Speed invoicing and credit collections,
- Supply and demand planning,
- Refunds and returns processing,
- Price lookup and comparison.
Reduce or eliminate outsourcing
The traditional model of outsourcing low-value processes to reduce operating costs is no longer the only option available. RPA offers organizations an alternative to outsourcing to a low-cost base country to gain a labor arbitrage advantage.
There is also the advantage of keeping a process onshore, maintaining greater control, and at the same time saving more than if the process is sent to a low-cost base country such as India or the Philippines.
RPA allows tasks, previously conducted by humans, to be done by intelligent software that learns on the job. A recent survey reported that 64% of participants agreed that RPA would reduce the human based pricing (HBP) and non-linearized their business model. 49% of the surveyed respondents have already seen reduction of more than 20% human efforts due to RPA.
When implemented correctly, RPA can offer wide-reaching benefits to the organization beyond the obvious cost-saving in human headcount. RPA is about further cost optimization in the operations of the business.
If you’re wondering how to start or improve the implementation of automation and digitization of processes and document flow in your company, contact us for your 30 minutes free consultation.
After completing the form, we will arrange a call at a time convenient for you. During the call, our consultant will suggest how to approach the Robotic Process Automation initiative in your Company. Thanks to this, you will assess which technologies will bring you the greatest benefits in the area of automation and standardization of processes.
What questions we will ask?
Number of repetitive tasks in your business by department.
The departments most suitable for digital opportunities in your company?
Health Care Providers, Especially nursing homes.