5 Industries that Could Benefit from RPA
Many industries have undergone digital transformation in recent years, particularly in the last 12 months as the pandemic has changed the way we live and work. With that in mind, Robotic Process Automation (RPA) has caught the eye of many different companies when it comes to streamlining process and becoming more efficient.
Depending on the business, RPA could bring significant benefits to the day-to-day operations. If you’re wondering how your business could make use of this breakthrough technology, Robiquity offer some insight to how some of the top industries could use RPA to their advantage.
RPA in banking and finance
The banking and financial industry is certainly at the forefront of digital innovations, but it can still be associated with inefficient processes when it comes to inputting information or information exchange. RPA could really help the banking industry speed this up, with its ability to automate processes and remove human error.
RPA in banking and finance can be used for a variety of tasks, from simple ones like confirming appointments with clients and Direct Debit cancellations, to more complex tasks such as suggesting financial products and loan applications.
RPA for retail and ecommerce
Whether your retail business works out of a builds and mortar shop or you only operate online, RPA could help with an array of areas from marketing and store planning to product categorisation and sales analytics.
RPA for retail can automate many processes to help you understand your business better, such as processing retailer and vendor data to automate the structure and categorisation of your products. RPA could also offer easy access to analytics and reports for insights of customer behaviour and preferences, as well as sales forecasting to help you plan ahead.
Local authorities and RPA
Many of the tasks associated with councils and local authorities are diverse and require efficient administration and management. From education to housing, local authorities look after a number of key areas that really make a difference. RPA could be used to productively direct information and close any gaps in complex administrative systems.
From automated indexing of emails to capturing reports, RPA can be used in a variety of ways within one organisation, providing a multifaceted approach.
RPA for insurance companies
The insurance industry is home to multi-step processes and document-heavy tasks, with a whole host of information from different sources. RPA for insurance companies could help to keep things streamlined and organised, compiling information for use.
By automating tasks, insurance firms can reduce lengthy processes and keep track of projects much easier than before. From issuing and renewing policies to processing claims, RPA could reduce its costs and make things simpler. RPA could also assist with managing reports for better insights to the business’ operations and efficiency.
RPA in HR departments
While HR may not be an industry as such, it is the backbone of many businesses. HR can deal with a huge number of administrative processes daily, managing almost everything in regards to company employees. Many tasks in a HR department are repetitive and time consuming, making it a perfect area for implementing RPA.
RPA could help your HR team to become more efficient, assisting with recruitment, claims for expenses, registering documents and more. It could improve information flow and accuracy throughout the business, with better access to data.
In some cases, RPA can be combined with machine learning and even provide chatbot capabilities.