Robotic Process Automation (RPA), is a transformative technology that automates repetitive and rule-based tasks within business processes. RPA employs software robots or bots to mimic the actions of a human user interacting with digital systems and applications.
RPA operates in a non-invasive manner, interacting with existing user interfaces, databases, and software applications, just like a human operator. It can perform a wide range of tasks, from data entry and data extraction to form filling and report generation, with a high degree of accuracy and efficiency.
How it’s used:
- Insurance: RPA can be used to claim processing operations, regulatory compliance, policy management, and underwriting tasks
- Retail: customer feedback processing, warehouse and order management, and fraud detection for e-commerce can use RPA to improve these operations.
- Healthcare: hospitals can use RPA to optimize information management, prescriptions, insurance claim processing, etc.
- Financial services: many major banks use RPA to automate tasks like customer research, account opening, and anti-money laundering.
One of the key advantages of RPA is its ability to boost productivity by automating routine tasks, freeing up human employees to focus on more value-added activities. RPA also operates around the clock, making it particularly useful for tasks that require 24/7 attention.