WHAT IS ROBOTIC PROCESS AUTOMATION?
Learn more about RPA, RPA results, and sample case studies.
WHAT IS RPA?
Robotic Process Automation is the fastest growing segment of technology solutions. Enterprises that still rely on traditional forms of Business Process Optimization will be left behind as their competitors implement streamlined and automated process flows.
Implementing RPA best practices not only reduces costs while increasing productivity, but also promotes innovation throughout the enterprise. A workforce is able to focus on strategic missions instead of being bogged down with tedious and repetitive process tasks.
On average, one robot is able to complete the same amount of work as three
human employees. This revolutionary increased capacity creates the conditions for building a competitive edge in both customer satisfaction and enterprise agility.
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Quick wins such as deploying robots to read and insert claim forms, and automation of rote data entry tasks can be developed, tested, and implemented within 6-8 weeks.
Showing immediate results helps breed confidence, and increases buy-in throughout the enterprise; incentivizing managers to use the technology to reduce turnaround time while increasing cash flow and customer satisfaction.
The appropriate execution of an RPA solution should always begin with assessment, with the initial automation treated as a pilot with extra attention to deal and documentation of lessons learned. An organization can then form a more structured plan of action to push automation out into the enterprise.
The business world revolves faster than ever. Traditional approaches to optimization have reached the point of diminishing returns. When harnessed correctly, Robotic Process Automation’s increased process efficiency and reduced operational cost can help build the edge in customer satisfaction and organizational agility.
50% of business leaders see automation delivering a positive impact to their processes in the next three to five years. Those organizations that do not plan for the same future will be left behind the competition.
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“Automating the provisioning of PC’s for new staff and refreshes for existing staff have shown positive ROI. PC’s did not always show up on time at the training site specific to a new employee. That meant the new hire lost out on hands on training in the class, and that the PC had to be reshipped to the employee’s permanent location. A Robot now provisions the PC the day the employee is set up in the HR system which is usually two weeks before the training date. Savings on shipments alone were $87,000.”
A robot was created and deployed to read vendor invoices for a global company. This robot increased productivity to 9:1 (compared to human workers) due to the robot handling 3 shifts with no downtime.
With an average savings of 15 minutes per week in an organization of 1,000 individuals who make an average of $50,000 per year, organizations can realize operational savings of over $300,000 in the first year with just automating a single process.
A regional healthcare provider allowed RPA to input and submit claims. As a result, their overall average TAT was reduce to 19 days. That resulted in a 63% cash ow improvement for $3B in revenue. The outcome also yielded an average $23.43/claim of increased revenue. Due to generating revenue faster than the rest of the industry, their credit rating improved.
Prior to automation, invoicing was done by Account management whose invoices were often late, fraught with errors, and with pricing that could be adjusted by the Account managers. Post RPA, invoices are now created uniformly across the enterprise leading to a 28% increase in capacity and a 33% reduction in discounts.
Incorporating artificial intelligence, a robot was able to read digitized vendor invoices and process them for payment into their SAP ERP. Over time RPA has freed up 80% of the staff assigned to this task while also paying the invoices 100% accurately.
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