Insights from Our Experts
Automation can ensure Business as usual even during a Pandemic
Humanity is going through a crisis on a scale that has never been witnessed due to the COVID-19 pandemic and changing every aspect of how the society, businesses, and economy functions. The current business model is still heavily dependent upon humans and is not designed to mitigate a situation such as this. Businesses that can operate with people working from home have to a certain extent been able to keep their operations running, but the factories and transport systems where the physical presence of a worker is required are left with no option but to close.
The technology of Robotic Process Automation (RPA) has been around the corner for some time, the tech enables the repetitive rule-based tasks to be shifted from people to robots. The RPA robots can carry out repetitive tasks with greater efficiency and accuracy compared to their human counterparts, they utilize the user interface to accept data and manipulate applications or automate operations that are not judgment based.
RPA enhances Business Connectivity
Work From Home is the current norm and some businesses have been able to keep things up and running, but still far from business as usual and comes with challenges in terms of connectivity and security. If enterprises prohibit or limit employee access to some critical business systems due to security concerns it can cause disruptions in regular operations. Robotic process automation is a possible solution for this, the regular administrative or operational tasks can be carried out by RPA robots easing the load from the business servers and infrastructure connectivity. The software robots can carry out a higher volume of work with impeccable accuracy and maintain Customer services without any disruptions. Robotic Process Automation ensures business connectivity across teams and systems and offers round the clock stability.
Automation Will Grow
The world is witnessing a lockdown, factories are getting closed either due to sick workers or to prevent more from getting sick. This has brought production of essential and non-essential commodities to a stand-still. Automation will surge in future to avoid such situations because robots are unaffected by any of the above discussed happening and this could eventually lead to long-term structural changes to the labor force.
With workplaces getting shut call centers operations too have been disrupted and in the wake of the COVID-19 situation, companies are looking at the use of automated bots to attend user queries and questions, which also offers companies to shrink down their physical workspace as it would be a software program installed and running from a server room that can cater to multiple users simultaneously. As per Gartner soon virtual assistants and chatbots will take 70% of managerial workload augmenting these roles to take care of the more valued aspects of their businesses and the on-slaught of COVID-19 has further accelerated this need for such Artificial Intelligence tools.
Robotic Process Automation helps organizations optimize their operations, save operational costs in such dire times, and it finds applications across all domains, finance, manufacturing, retail, and IT businesses. Disruptions of such a global scale throw business operations out of its normal flow, thus creating a backlog at various service levels. For example, a bank deciding to reschedule payment of its hundred thousands of loan accounts to ensure that the late payments do not issue an automatic notice to the credit rating agencies, a task of this volume to complete will take many people with thousands of man-hours and a huge cost. Robotic Process Automation can be a boon in such scenarios, it would take mere days for RPA bots to identify and finish the task of such scale.
Business enterprises must think beyond damage control, Robotic Process Automation is not a mere mitigation tech but its benefits go beyond that. It's time we reconsider how we utilize human resources, robots are capable of handling repetitive voluminous tasks which may be mundane and jarring for humans to do. RPA creates an opportunity for organizations to make use of their people to take care of jobs that are of higher value. Integrating automation and artificial intelligence in business processes is the foundation for the future-ready company and insurance to cover your company from future surprises like the current pandemic.