Robotics Process Automation: Use Cases - PowerPoint PPT Presentation

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Robotics Process Automation: Use Cases

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Robotic Process Automation can help businesses to automate their workflows and increase productivity. Check out the blog to know the RPA use cases. – PowerPoint PPT presentation

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Date added: 28 February 2024
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Title: Robotics Process Automation: Use Cases


1
Robotics Process Automation Use Cases
After the pandemic hit, the digital
transformation took over the business industry.
RPA has also emerged as a technological
breakthrough for companies. Robotic Process
Automation can help businesses automate their
workflows and operations and increase
productivity. Combining AI and RPA tools empowers
organizations to achieve unprecedented levels of
efficiency and agility in their operations,
driving sustainable growth and resilience in the
face of evolving market dynamics. According to
Forrester Research, the RPA market will be worth
2.9 billion by 2021. By adopting RPA
technology, businesses can increase their
efficiency and stay ahead of their
competitors. RPA can be utilized to streamline
and automate repetitive, mundane, and
time-consuming tasks. All sorts of industries
can implement RPA and eliminate the risks of
human errors. In this blog, we will give you
in-depth information on RPA and its use cases in
different industry verticals. Why is RPA
Important?
2
  • RPA development services can help businesses
    speed up their work processes and reduce costs.
    There are many benefits of implementing RPA that
    we have discussed below
  • RPA can automate simple, tedious, and
    step-by-step work procedures. Boosts
    productivity, as the professionals can focus on
    more critical tasks.
  • RPA improves efficiency by fastening up the
    processing time and reducing errors. For
    example, the use of RPA bots in the accounts
    department.
  • With RPA, you can achieve data accuracy and
    consistency, as there will be no manual or human
    errors. For example, by automating invoice
    processing
  • Robotic process systems can help improve and
    maintain business data security. The businesses
    define RPA parameters therefore, the risk of
    data leaks and breaches reduces.
  • RPA data-driven analytics can assist
    organizations in identifying bottlenecks and
    process gaps. These analytics can help businesses
    to optimize their processes.
  • RPA Use Cases in Different Industries
  • In this section, we will give you more
    information about RPA use cases in various
    industries. RPA can be utilized in different
    business sectors, such as
  • Healthcare
  • Banking
  • Manufacturing
  • Information Technology
  • Customer Care
  • Real Estate
  • Retail

3
  • RPA Use Cases in Banking
  • RPA is highly beneficial in the banking sector.
    It can ease many human tasks and reduce
    operational costs.
  • Banking automation can reduce the turnaround
    time, and therefore the processing cost is
    lessened up to 30 to 70.
  • Enhanced Customer Service
  • RPA bots can reduce the banks processing time by
    streamlining customer onboarding and
    cross-checking customer details for loan
    inquiries.
  • It can help banks to respond to customers at the
    earliest and retain them for a longer time.
  • Automated Accounts Payable
  • The accounts payable process involves using OCR
    (Optical Character Recognition) for collecting
    invoices from vendors, data validation, and
    processing data.
  • By utilizing RPA bots, the banks can automate
    this full process and credit the approved amount
    automatically to the vendors account.
  • Additionally, it can send standardized
    notifications to customers after finishing
    validating their data and processing the closing
    account functions.
  • Credit Card Mortgage Processing
  • By implementing RPA, banks can speed up their
    credit card processing. Automated verification
    and background checks can increase efficiency.
  • For mortgage processing, banks have to perform
    many security checks, such as employer
    confirmation, credit card history, etc. RPA can
    execute this complete process with pre-defined
  • algorithms.
  • KYC Compliance
  • Nowadays, banks have started investing in the KYC
    process. As per the statistics, KYC compliance
    figures are around 384 million every year.
  • Banks can leverage RPA to gather customer
    information, and verify process it. Automation
    can reduce FTEs, improve efficiency and accuracy
    of the compliance process.
  • Detecting Frauds Potential Threats
  • RPA can help banks in detecting frauds and
    potential threats. These software bots can assist
    banks in identifying accounts that have some
    suspicious activities or are likely to cause
    threats. Banks can then immediately close these
    accounts and start fraud investigations against
    them.
  • RPA Use Cases in Insurance

4
  • The insurance sector involves gathering a lot of
    important data and verifying it. RPA has many
    use cases in the insurance industry, such as
  • Registration Process
  • Automation can fasten up the form registration
    process by 40. This can reduce the workload of
    employees and increase productivity.
  • Maintain Compliance Standards
  • There are many compliance standards and policies
    that need to be followed in the insurance
    industry. By implementing RPA strategies, banks
    can ensure that they abide by them entirely.
  • Claims Processing
  • According to a recent study, claims processing
    using RPA bots is 75 faster than the traditional
    approach. RPA removes all the paperwork and
    improves the overall quality and precision of the
    claims processing.
  • Reduce Risks
  • RPA can process data accurately from internal and
    external websites. This reduces the risks and
    ensures data processing at a faster rate with
    accuracy.
  • RPA Use Cases in Healthcare
  • The major focus of the healthcare industry is on
    reducing costs and increasing efficiency. RPA
    can tackle these and has many use cases in the
    healthcare industry.
  • Saves Time Efforts
  • RPA can save the time and effort of healthcare
    individuals by carrying out repetitive and
    tiresome tasks. These healthcare professionals
    can then put more effort into taking care of the
    patients.
  • Record Maintenance
  • Hospitals have to maintain massive amounts of
    data such as patients medical records, claim
    processing, insurance, etc. RPA execution can
    help in automating this entire process and
    reduce costs.

5
  • Robotics Process Automation companies can aid you
    in planning and executing data migration
    accurately from traditional to modern systems. It
    can also help you save time and costs.
  • RPA Use Cases in BPOs
  • RPA can be utilized in the BPO industry to
    increase the output of customer care personnel.
    Below, we have given the different
  • RPA use cases in BPOs
  • Automated Accurate Workflows
  • RPA can undertake distinct repetitive tasks
    without human intervention and with 100
    accuracy. These software bots can help to save
    the time of individuals and reduce costs.
    Customer care executives can focus on providing
    services to customers and maintain customer
    loyalty.
  • Automated Data Exchange
  • Customer care representatives need to gather and
    maintain data constantly to draw insights from
    it. RPA can automate this process and make it
    easy for representatives to share information
    and keep records.
  • Reduce Operational Cost
  • According to the Robotic Process Automation
    Institute, the adoption of RPA reduces operating
    costs by 25-50. The RPA bots can easily perform
    monotonous and stepwise defined tasks and reduce
    business costs.
  • RPA Use Cases in Information Technology
  • Robotics Process Automation future can help in
    executing various tasks in the IT industry, such
    as employee onboarding, task tracking, CRM
    updating, payroll processing, etc.
  • The IT sector can extensively benefit from the
    RPA implementation, as it will save the time and
    effort of the IT professionals.

6
We have expertise in developing and deploying RPA
bots for different business sectors. Schedule a
call with our experts to get more information on
Robotic Process Automation, or email us at
sales_at_sphinx-solution.com.
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