Discover the Advantages of Robotic Process Automation (RPA) As A Service
Modern enterprises are always looking for new and innovative ways to be more efficient and cost-saving. Robotic process automation (RPA) is a strong emerging field that aims to automate complex user-driven tasks to improve workflow. RPA is available as a fixed solution or subscription service, and RPA as a service (RPAaaS) is making great in-roads in all fields of business. RPAaaS is focused on artificial intelligence software, allowing businesses to lease robotic devices when required to automate repetitive tasks with this cloud-based solution. RPAaaS offers several major advantages over fixed RPA solutions.
What is robotic process automation?
RPA is an exciting new method of business process automation (BPA), a process that aims to streamline business activities by automating the system and digital transformation. RPA operates by creating a dynamic action list based on how a software application will work with a human client. Repetitive tasks are automated after a detailed analysis in an effort to improve the quality of service and reduce business expenses.
RPA can make systems more efficient and minimize associated costs by reviewing individual workflow cases and creating a list of actions capable of automating specific processes. RPA is designed to automate transactions, data collection, triggers, and many other processes of repetitive data. RPA’s best candidates are mature, manual, repetitive, rule-based, high volume, and dependency-isolated processes.
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UNDERSTANDING RPA AS A SERVICE
The world is moving from software products to cloud-based services gradually. There are several benefits to this strategy, whether you’re talking about file sharing, social networking, or critical business infrastructure. Businesses will benefit from increased flexibility, increased efficiency, and multiple productivity benefits when technology is provided as a dynamic service rather than a static item. In terms of cost savings and long-term business growth, this has a variety of flow-on effects.
Although RPA as a service can be difficult due to the complexity and implementation of internal systems, there are many ways to overcome these challenges and build reliable and effective workplace practices. RPA as a service typically involves a cloud-hosted RPA stack where robots of code conduct automation in the cloud or on servers or virtual machines of the customer. Automation processes can include usability, control injection, display OCR, and manipulation of UI elements, depending on the use case scenario.
The successful implementation of RPAaaS requires, in addition to the systems themselves, the hard work of skilled and experienced people with the techniques and tooling needed to integrate automated processes with existing business practices. RPA as a service involves a simple subscription-based engagement model that enables the delivery and remote control of these automated services for maximum efficiency.
BENEFITS OF RPA AS A SERVICE
RPAaaS offers a number of powerful advantages over traditional RPA, including shorter launch time, zero lock-in technology, resource access, and zero capital spending. It’s not all about increasing the entry barrier but also enhancing efficiency and data input between the company and automation provider with a subscription model. Once process automation is implemented in a straightforward pay-per-use system, it is much easier for businesses to understand the benefits that are returned to their company.
LOWER BARRIER TO ENTRY
RPA as a service provides companies with numerous advantages, including a much lower entry barrier. You will not only experience faster market time, but there is also no need to engage in expensive and complicated technology. You will jump-start the RPA projects and make informed decisions without the pressure of lock-in software instead of spending months designing automation processes.
While you have to pay for the service itself, there is no capital expenditure outlay and a greater ability over time to make gradual and sustainable improvements. Customers can simplify basic processes first with RPA as a service and build from there with a clear understanding of their ROI.
IMPROVED ACCESS TO CAPABILITIES
Businesses have a greater ability to access the resources and tools needed to automate business processes effectively with RPA as a service. When it comes to automation, not all processes are identical, with skilled and experienced individuals needing to separate tasks and integrate automation with existing business practices. During this cycle, experience and thorough methods will be important.
RPAaaS providers should at least be able to manage the stack of automation and control the workflow. We should also be ready to handle and simple user prompts for automation, upgrade automation when appropriate, perform preventive maintenance, and provide a quick response when environmental conditions interrupt an automation. If process automation is implemented as a subscription model, without additional investment, the resources and equipment needed to perform these tasks are available.
ENHANCED FLEXIBILITY and TRANSPARANCY
RPAaaS offers a solution that is much more versatile and transparent than RPA. You can use existing infrastructure and industry experience instead of investing in a large number of automations or buying expensive equipment to operate the robots. The ability to integrate ongoing feedback and automation training in your production environment should not be underestimated along with the significant cost advantages.
RPA as a service allows you to make improvements more easily, to access preventive measures and to incorporate new automations as your company evolves over time. Instead of engaging in highly complex systems, those with high volumes of transactions, or those with major dependencies, you should recognize easy processes to simplify the business early and reduce the overall effect.
57 RPA Use Cases / Applications / Examples
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COMMON PRACTICES
- Quote-to-cash
- Procure-to-pay
- Customer onboarding
- Data migration and entry
- Extracting data from PDFs, scanned documents and other formats
- Data updates
- Data validation
- Periodic report preparation and dissemination
- Generating mass emails
ACTIVITIES IN COMMERCIAL FUNCTION
Marketing
- Lead nurturing – quantifying and transforming incoming contacts
Sales
- Creating and delivering invoices
- Updating CRM
- Updating scorecards
- Loading a detailed customer profile including previous interactions with support
- Getting detailed billing data
- Updating user preferences and other user information
- Resolving simple but common customer issues
- Automating multi-step complex tasks that require little decision making such as Level 1 Tech support
ACTIVITIES IN SUPPORT FUNCTION
Regular diagnostics
- Fault remediation
Technology
- Opening up internal tools to customers or employees
- Software installations
- Automated testing
Finance
- Financial planning
- Bank statement reconciliation
- Daily P&L preparation
Human Resources
- Candidate sourcing
- Employment history verification
- Hiring & onboarding & headcount reduction
- Payroll automation
- Absence management
- Worker’s compensation claims
- Expense management
- HR virtual assistants
Operations
- Updating inventory records
- Issuing refunds
- Compliance Procurement
- Updating vendor records
INDUSTRY SPECIFIC
Banking
- Know Your Customer (KYC)
- Loan processing
- Trade execution
- Same day funds transfers
- Account Closure
- Validating and processing online loan applications
- Audits
Logistics
- Trade Finance Insurance
- Claims processing
- Appeals processing
- Responding to partner queries
Telecom
- Credit check
- SIM swapping
- Customer dispute resolution
- Porting customers numbers
Retail
- Product categorization
- Automated returns
- Trade promotions
- Inventory and supply chain management
Functioning a modern business involves lots of repetitive processes almost without exception. Robotic process automation allows you to streamline how simple and complex routine processes are performed by your organization. RPA is a clever and robust, future-proof solution from workflow improvements and cost reductions to process analytics and autonomous collaboration. If you’ve been thinking about RPA for your company, there are a range of distinct benefits to RPA as a service. You will not only get into the game sooner, but you will also have more access to existing tools and knowledge, as well as a more versatile and transparent solution that will evolve alongside your company.
List57 Digital Workforce Platform (L57-DWP)
L57-DWP is now available on-site and in any public, private or hybrid cloud, delivering RPA-as – a-Service seamlessly through any delivery channel anywhere in the world to any user and any business. The game-changing application, now available in more than 14 languages, dramatically reduces obstacles to RPA adoption in costs and infrastructure.
Inspired by the way people work, the company’s flagship platform now offers more than 175 new features across 40 different product categories to improve business automation. It also provides input from more than 3,000 customers worldwide and thousands of hours of research and development to put automation one step closer to understanding the estimated $100 billion market opportunity analysts from the industry.
Our all new L57-DWP is that drastic departure, with a refreshing, instant-on user experience that removes the frustration that many businesses still face in creating, deploying and scaling bots. Users can now log in from any web browser to the platform, dramatically increasing the speed of RPA deployment while reducing the time that companies derive compelling business value.
The new platform of L57-DWP provides unparalleled capabilities for businesses of all sizes. These include the following:
Instant-on user-friendliness: The highly intuitive web-based interface simplifies bot creation and lets companies automate more business processes than ever. Using a web browser, users of all kinds and abilities can log in and create in minutes their first bots. Nothing can be installed, configured, or preserved. The RPA platform allows users to create computer bots on any operating system, including Windows, macOS, or Linux, and any phone, without any effort.
Cloud-based on an unprecedented scale: L57-DWP is a cloud-based platform providing both cloud-based RPA-as-a-Service (RPAaaS) and on-site delivery with enterprise-class data privacy, security and authentication in each. The software-as-a-service model allows users to take advantage of RPA’s inherent benefits, but with reduced ownership costs, near-infinite scalability, and dramatically reduced purchase time. Customers may choose to deploy or provide it from the cloud on-site.
Artificial Intelligence (AI) infused: Users now have the ability to leverage built-in AI technologies and easily integrate third-party AI applications like computer vision, natural language processing, and predictive modeling – all with the ease of drag-and-drop AI in any automation workflow.
Advanced Attended Automation 2.0: Users now have access to new technologies for automation that provides greater group and workflow bot and human collaboration.
“Many enterprises today are recognizing the benefits of automation and are currently in the midst of understanding the best strategies for optimal implementation,” said distinguished analyst. “With features such as a function-specific user experience, availability on multiple clouds, RPA-as-a-Service, and built-in AI capabilities, this new release from L57-DWP could simplify automation and reduce its cost of ownership. These types of developments will increase the market for automation, bringing it within the reach of more enterprises with different budgets and tech skills.”
“L57-DWP has a new web interface that is optimized for a variety of users, creating a collaborative work atmosphere while maximizing efficiency and productivity,” said another high-level Intelligent Automation Consultant. “Bots used to be cumbersome to download and manage, but with the new cloud-based platform, bots are available on request for enhanced scalability and simplified user access and functionality.”
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