Robotic Process Automation (RPA) and its impact

In my last blog I touched upon Intelligent Enterprise Automation broadly covering Machine Learning, Autonomics, Machine / Computer Vision and Natural Language Processing. Today, I will focus on Autonomics and its impact on business and IT to be more specific.

Autonomics are intelligent systems that apply self-adapting policies to “learn” from experience and respond to new conditions, with the potential to perform more and more complex tasks. Autonomics are entering mainstream back-office work and performing high volume as well as routine tasks. It is in fact predicted that autonomics will completely transform the� Business Process Outsourcing (BPO) industry. However, if you look a little deep in to these current systems, you will see that they are not “autonomics” in the truest sense but are surely evolving rapidly and will reach that stage in the near future.

Traditionally robots revolutionized the manufacturing industry largely in context of assembly lines. Today, Robotic Process Automation (RPA) is impacting the back office and process related work in the very same way. In the manufacturing sector, physical robots replaced workers doing repetitive tasks, whereas in the office world, software automation (termed as RPA) is replacing many of the repetitive tasks and associated jobs which occur across business offices worldwide.

RPA is most effective when:
  1. Actions are consistent and steps repeated
  2. Applications are rule-based
  3. Data is template based
  4. Data is entered repeatedly in the same fields
Many organizations use RPA across many functions.
Some of the most common avenues of usage are:
  • Data entry and validation
  • File and data manipulation
  • Automated formatting
  • Multi-format message creation
  • UI manipulation
  • Web scraping
  • Text mining
  • Uploading and exporting
  • Downloading and importing
  • Workflow acceleration
  • Currency/Exchange rate processing
  • Reconciliations

Other than the horizontal / generic functions listed above, there are some notable use cases for RPA across specific industry verticals also.

Regulatory Compliance for Financial Services

RPA solutions address regulatory compliance by performing the function in the same way repeatedly and provide a detailed and sustainable audit log of activities, which is a crucial requirement for compliance. RPA tools can also be scaled easily and made to ‘learn’ and perform new processes as they are introduced by regulatory agencies.

Mortgage Loan Processing

RPA tools execute routine rules-based tasks and therefore provide increased and accurate loan processing experience. By applying rule-based algorithms RPA tools resolve errors and increase speed through the loan origination systems. Also RPA tools can “learn” to analyze data in the applications and recommend cross-selling of other products to the customers like insurance, savings instruments etc.

Telecom Sector

Telecom providers need to switch circuits based on customer movement. However some of the decommissioning work requires verification from multiple systems and third party circuits and sources. Traditionally these have been resource intensive processes, requiring multiple steps and checkpoints. RPA tools have been employed across such areas and are providing increased efficiency as most of these processes are rule based.

This is still an evolving area and with more cognitive and artificial intelligence being built into the tools, they are becoming smarter. The impact of this smart revolution is felt across many industries not limited to BPO only, not to mention the impact it has on jobs and the change of human roles and skills required along the way.

We at Nalashaa are working with our enterprise customers to understand the impact of autonomics and help them adopt intelligent automation into their businesses. We provide Robotic Process Automation (RPA) services to create superior efficiency in workflow and processes and eliminate errors, allowing core human resources to focus on customers and business.

As the saying goes “Change is the only constant!!!”

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Deb Sarkar

Deb Sarkar

Deb has a strong background in IT services / Product development Sales, Delivery and Consulting. he has build IT outsourcing businesses across global customers in BFSI, Retail and Utilities. He is a bookworm, music lover apart from being travel and food crazy.