How can Robotic Process Automation help you?
Only a thought in the past, robots were a fictional concept. With rapid advancements in the technology sector, robots have become a reality. Its continuous development has dominated the manufacturing business, and the same is appearing within the financial space.
As multiple businesses continue to improve efficiency and effectiveness, the need for errorless, low cost systems are in higher demand more than ever before. Robotic Process Automation (RPA), a new word surrounding many industries today has entered into the market with tremendous swagger. This innovative piece of technology has delivered exceptional improvements for many businesses.
What exactly is RPA and what does it bring to the table?
In simpler terms, RPA can do anything predictable and repeatable. They are not robots with legs or a funny face. Instead, they are software systems which live in your PC, and interact with applications to complete designated tasks. By setting relevant rules, these robots can complete routine business tasks such as data transfer and payroll processing.
As a result, many tasks can now be assigned to a robot, computerising a number of processes which would have been manual previously. Consequently, RPA can bring a number of benefits to your firm, including:
· Cost Reduction – RPA software may be costly, but this one-off cost means it can be used whenever it is required
· Improved Accuracy/Timeliness –A simple task such as f data input by a human can sometimes be jeopardised because their finger slipped, which will not happen to robots. Additionally, computers don’t need sleep, meaning it can operate 24/7
· Resource allocation – In most cases, tasks and processes which can be automated are least enjoyed by employees. The lack of emotions from RPA means it can work on these tasks without being irritated. Furthermore, staff released from these tasks canrefocus on more important and rewarding tasks
Discuss how you can implement and benefit from Robotic Process Automation with like-minded banking professionals at this year’s European Banking Forum; Technology Security & Risk 2018 in London! For more information on this year’s event, please visit: www.arena-international.com/ebf-seucirty-risk or email us at: firstname.lastname@example.org
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