In the diagram above you can see how Automated HRO process is explained. In this each and every aspects are taken care by the HR department. How RPA helps in minimizing manual work and reduce the operation cost is also explained.
Automation allows you to streamline business processes and increase Return of Investments in some easy measurable ways and several unique ones.
Lets understand it with different prospective:
- Focus on the Revenue:
People generally refer as automation is measure of stress-relief that allows businesses to reduce operational costs and rebuild companies. But there are many more reasons to start the automation journey that point straight into the revenue growth rather than coping with issues.
In any organization, there are two types of operations: revenue-drivers and supportive business processes. Revenue-drivers are concentrated in sales and marketing departments and supportive business processes s running through the accounting, finance and operations divisions.
Automation allows your revenue-drivers to focus on the strategic goals and leave the routine to programmed robots.
In same way the supportive business processes can work around-the-clock with robots filling out the necessary paperwork and transferring data even in the night time. This way effectiveness of operations in your organizations, finishing more tasks without additional hiring.
Customer Revenue Growth
With automated repetitive, rule-based processes, such as updating the information about clients, you can better manage a sophisticated referral program that’s profitable both for you and your customers. We are able to strengthen our relationship with them by solving problems and reach their business goals.
These metrics are easily measurable for ROI calculation and allow you to monitor and control the effectiveness of automations.
- RPA allows to Reduce Costs:
Lets discuss the points which are need to b consider while using RPA for reducing costs:
- Avoid Mistakes: little mistakes here and there made by your employees daily lead to missed opportunities. For instance, incorrect address on an invoice can cause the logistics issues and project timeline’s shift, which leads to a late response to the customer’s order, compensation to the client, negative feedback, etc. This is just an example there are many missed opportunities. Automated process not only make sure your documentation is always filled accurately can save you money and time spent on routine.
- Reshape the roles and responsibilities: The assistance of programmed robots with data management makes it possible for people to work on new tasks and projects, which either leads to more similar jobs or new opportunities for professional and personal growth and development. It is much more useful for companies to help specialists fulfil their potential, rather than every 2-3 years looking for talents outside of the company.
2. Non-financial Outcomes of RPA Implementation
Operations become more data-driven. Previously, the merchandiser was responsible for the assortment in the store, and his duties included making sure that the store has as many products as possible. He has to analyze statistical data about buyer personas, average check and the contents of the food basket.
As technology keeps evolving, retail companies implement more sophisticated and innovative approaches to data analysis, which implicates the rise of the data volume that has to be processed. RPA robots manage data collection, transformation, and optimization for you, which adds value to your market proposition as the company that is able to keep up with the ever-evolving market
After all this explanations let me give and few use case example to help further:
- Payroll processing
Changing tax laws, reporting requirements and simply working with systems that don’t talk to each other can suck up days each month for payroll processing. RPA’s ability to collect and connect that data between multiple systems such as time tracking, HR and employee management, accounts payable and general ledger—not to mention providing accounting reports for taxes and various departments—make it invaluable in automating this process.
- Competitive Pricing and Monitoring
According to Retail Dive’s consumer survey, nearly 60% of shoppers look up product information and prices while using their mobile phones in stores. Online, they access comparison shopping sites. And third-party merchants on platforms like Amazon.com often use repricing software that automates the time-consuming job of keeping up with the competition. With this kind of power in the hands of customers and competitors, it’s critical for your organization to have a handle on what the competition is up to. RPA can monitor and alert or proactively reprice according to your specs in real time so you’re no longer relying on outdated reports that took days or weeks to compile.
- Order processing
The ordering process can involve many time-consuming manual tasks like address verification, data entry, printing the invoice and shipping label, and updating warehouse inventory and reordering if your stock is low. RPA can automate and orchestrate this process—being a software robot and not a physical robot, the only thing it can’t do for you is pick and pack the boxes.
- User Setup and Configuration
We talked about the employee onboarding from the HR side above. On the IT side, someone has to add and configure a new user so that brand new employees can log in to their computer, email, network, etc. Let RPA automate this process so your staff can focus on higher-value work in the backlog. Discover even more ways to automate with RPA.
All in all, Robotic Process Automation can be effectively used not only as a part of the operational cost reduction strategy but also to strengthen the relationships with customers, upgrade data management systems, raise productivity and ensure that the essential business processes will be performed regardless of your team’s circumstances. All these factors positively impact your business’ stability and help elevate your ROI in ways that were previously impossible.