rpatraction-blog

[rpatraction-blog]

 For better or worse, the world order is changing and it is changing fast. Scientists, doctors, and researchers are all scrambling to find a solution to end the corona virus crisis. The economic fallout has and will be tremendous and every country across the globe is now trying to find a release point to open up their offices and business operations. Companies need to have a clear plan covering employee safety, work-at-home, data security, business continuity and financial resilience – and yes, to continue to provide products and/or services to their customers.

Companies are looking to minimize risk by reducing physical interaction, increase operational efficiency and regain credibility amongst customers quickly and be able to carry out timely and accurate transactions.

Our previous article (https://www.linkedin.com/posts/marchingbots_automation-keep-your-organisation-healthy-activity-6655371172840075264-01ej ) discussed about how we can minimize risk by reducing physical interaction through using RPA tool.

Robotic Process Automation (RPA) precisely meets all the necessary criteria and therefore is a very effective solution to reboot companies operation in today’s time. As Leslie Willcocks, PhD, a professor of technology, work, and globalization at the London School of Economics, states: “RPA is a type of software that mimics the activity of a human being in carrying out a task within a process.  It can do repetitive stuff more quickly, accurately, and tirelessly than humans, freeing them to do other tasks requiring human strengths such as emotional intelligence, reasoning, judgment, and interaction with the customer.”

Over the past few months, companies have had to quickly adjust to COVID-19 situation. The first step for many organizations is to stabilize operations and safeguard their own employees. And to achieve that, the companies are realizing that with some training, consulting and eventually deploying bots, a computer will work much smarter – do more with less effort and greater accuracy. Today, tools powered by artificial intelligence and machine learning have the potential to make any workforce more efficient and more productive than ever. Companies are reinventing themselves and coming out with innovative solutions. A car manufacturing unit is manufacturing ventilators, distilleries producing hand sanitizers and apparel firms producing face masks. The fast adaptability of these firms is not only ensuring operational agility but also generating much needed revenues and contributing towards overall humanitarian efforts. These changes would also mean a change in production line processes like – regulatory compliance, procurement or inventory management which are time-intensive processes. To stay competitive, manufacturing organizations must adapt and optimize these often complex and intertwined processes that define the manufacturing value chain and the key to such change is to automate back-office and operational processes. RPA and AI are enabling new frontiers of growth and scale for manufacturing organizations.

Companies beyond manufacturing are able to innovate their product portfolio to contribute to safety initiatives. Transportation and logistics companies are looking to use their network to transport medicine and basic goods. RPA tools enable to eliminate costly manual functions by automatically acquiring, integrating and delivering data across supply chain. Bots help in automating manual tasks—from the initial pick-up request to checking and reporting delivery status between internal systems and portals. Deploying bots helps extract all details from incoming emails, log jobs in scheduling systems and provide pick-up times in customer/carrier portals.

Many companies and firms are facing financial stress as well. Companies are forced to decrease operations and many small business owners are facing massive income and liquidity issues. These firms are now looking for some relaxations from financial companies. Financial institutions are therefore not penalizing customers who cannot meet the payment obligations for a time period. Telecoms are not terminating service or enforcing late-payment fees for customers facing hardships for an extra time period. And energy companies are not shutting off power for non-payment. To enable such changes, the staff of financial institutions would have to deal with huge data volumes, make exceptions and process all the billings manually which could also have potential for manual errors resulting in loss of credibility and revenue. RPA tools can, in such cases deploy bots which can run all the transactions based on standardized set of defined rules and be able to produce even reports handling voluminous amount of data. This saves time, effort with utmost accuracy.

Marching Bots, an authorised partner for Automation Anywhere, can help in this endeavour to help automate specific roles and/or functions. Kindly contact us at getmarching@marchingbots.com  for further details.