Cross Industry Applications

“Automation Highway to Growth”

By leveraging RPA, all businesses can:

Reduce costs and errors
Protect against tribal knowledge loss
Enhance customer and employee experience
Improve speed and efficiency
Scale faster without major staff or IT investments

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CoSourcing Partners » Industry Experience » Cross Industry Applications

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Cross Industry Automation Opportunities

RPA is one of the hottest technologies in the market today and can be deployed across all front and back-office functions:

Finance & Accounting
Sales & Marketing
Operations
Procurement
Human Resources
IT Operations

RPA is the conduit to real gains in process efficiency and a critical tool in the digital transformation tool kit that enables growth.

Finance & Accounting

Most Accounting and Finance functions are rules-based, making them prime candidates for RPA. Accounts Payable, Accounts Receivable, Travel and Expense Management, Bank Reconciliations, Journal Entries and Month End Book Closings are just a few business units that can be improved by applying process automation. In fact, McKinsey estimates that 44% of all finance functions can be automated.

Organization often handle unstructured data inputs such as invoices and statements. In such cases, RPA can be integrated with other cognitive technologies like AI and OCR. These “smart” solutions are capable of converting unstructured documents into structured data and through AI models become progressively more accurate as the model “learns” the various formats and types of incoming documents. The automation potential has grown to 80% – 100% depending on the application.

Sales & Marketing

Sales, marketing, and service processes are all prime automation candidates; including Lead Generation, Pricing & Competition Monitoring, Order Entry and Management, Billing, and Customer Contact. With RPA applied across the customer service lifecycle, companies can put customer satisfaction first while bolstering their bottom lines.

For example, Customer Contact centers experience the highest employee turnover rate and drive customer satisfaction levels. Intelligent Automation (RPA+AI) allows Contact Centers to enhance performance and reignite the momentum behind their digital transformation with a low-risk, nonintrusive technology that can support complex processes across multiple systems. Access to required information is provided at record-speed, and agents can focus on high-value added activities. As a result, Contact Center employees are empowered to make a difference and KPIs are improved through reduced AHT, increased FCR, boosted NPS and increased customer loyalty.

Human Resources

From an operational perspective, HR departments deal with a lot of paperwork and spend much of their time doing repetitive and time-consuming tasks. Industry estimates over 50% of these tasks can be automated. Some of the most common opportunities are in Sourcing & Recruiting, On/Off-Boarding, Payroll, Benefits Administration, Time & Expense Management, and Training Administration.

One bank deployed RPA in their sourcing and recruiting process and saved over 120 hours every month while improving their hiring metrics. Another company leveraged RPA to process a large volume of 1099 timesheets monthly. RPA, in combination with Optical Character Recognition, can be deployed to receive timesheets, extract critical data, apply data matching and accuracy rules, input necessary fields into ERP and payroll systems, saving over 3000 hours per year and eliminating human error.

HR is vital for success of any company. RPA reclaims up to 40% of employees’ time and allows HR managers to focus on overall business performance, employee satisfaction, and reskilling a changing workforce.

IT Operations

There are countless applications for RPA solutions in the IT environment given the many repetitive processes staff must oversee. Some specific examples include System Migrations, Server & Application Monitoring, Routine Maintenance & Monitoring, Access Provisioning, Password Reset/Unlock, Email Processing & Distribution, and Back-up and Restoration. One manufacturer saved over $700,000 in temporary staffing to complete a data migration project.

By simplifying and streamlining user management, RPA can also help IT services to quickly respond to employee requests. By automating its service desk, AHT can be reduced by as much as 98%. Importantly, as other departments explore RPA opportunities, IT organization can also help support those projects and get them off the ground.

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