The latest component of Industry 4.0, Robotic Process Automation (RPA), maybe be an unfamiliar concept now, but soon these three words will be on the lips of operators big and small all over the world. RPA is already generating substantial revenue savings for businesses, with $50 million recovered in 2017, with a projected compound annual growth rate of more than 60% through 2026. Coupling this emerging technology with a business-centric solution like ERP systems will ensure your workforce is free to engage in the more demanding aspects of your operations, all while automation handles the rest.
What Is RPA?
When it comes to robots, we tend to think of the latest development from research labs like KUKA-style assembly line robots and the agile creations emerging from the labs of Boston Dynamics. RPA is quite a bit different. It refers to automation technology; more specifically RPA is a technology designed to handle clerical process automation based on the concept of Artificial Intelligence (AI) workers. These digital entities are also referred to as software robots.
ERP serves as the backbone of your IT infrastructure by acting as a single source of information for your business. RPA automates several processes traditionally involving human interaction with the ERP system by entering transactions, executing programs, and extracting reports automatically, in a fraction of the time. These robots are taking the lead when it comes to back-office tasks that are repetitive and uninteresting to their human counterparts. Due to the repetitive nature of these tasks, robots are prime candidates to take over in completing the tasks with speed and efficiency. This gives the human capital component of your business more freedom to approach tasks that require reasoning, judgment, and critical thinking.
RPA Benefits For ERP-Equipped Businesses
Coupled with the right ERP, RPA is primed to deliver substantial benefits to small and medium businesses looking to leverage technology for a leg up on competition in keeping operations lean.
Savings in costs is one of the most immediate benefits of RPA. Completing work faster and with higher accuracy than traditional data entry and management methods, RPA outputs more with fewer inputs and when tasks are completed for a fraction of the cost the result is in an improved ROI for your business.
Even the most diligent and experienced professionals make data entry and filing mistakes, with fatigue being one of the main culprits. RPA Delivers higher quality results within a fully-automated process. You’ll find data entry errors quickly falling out of the equation and you’ll enjoy higher satisfaction both internally and externally when the mundane is managed by RPA.
Stemming directly from the relief of having to complete fewer mundane tasks, your employees will enjoy newfound job satisfaction by being able to engage in tasks that require talent, intelligence, and problem-solving.
Another benefit realized as a result of fewer errors and omissions in documentation is a higher standard of compliance. By maintaining standards and practices within the operations of your organization, compliance is more readily assured and employees have a firmer grasp of overall operations, explore their roles, and invest in the growth of the organization.
Your Competitive Advantage With ERP And RPA
The business world is a competitive one, and you’ll need every advantage at your disposal to ensure you’re operating at peak performance. A powerful ERP system and incorporating powerful technologies like RAP are an exceptional way to ensure your competitiveness. Consulting with professionals is the best way to get an idea of how relevant these powerful tools are to you and your business, as well as how they can be leveraged to great effect. Consider working with implementation and consulting professionals to more effectively outline and execute the future of your business’ digital operations strategy.
About Encompass Solutions
Encompass Solutions, Inc. is an ERP consulting firm that offers professional services in business consulting, project management, and software implementation. Whether undertaking full-scale implementation, integration, and renovation of existing systems or addressing the emerging challenges in corporate and operational growth, Encompass provides a specialized approach to every client’s needs. As experts in identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of Industry.