Simply put, Automation makes finance processes better, faster and cheaper. It eliminates human errors and delays which are the precise ask in the finance industry. It is an accepted fact that 70% of finance use-cases will be automated sooner or later. Most companies are already reaping benefits of automation by automating teir most crucial and painful processes like:
Retail industry is dynamic and customer expectation is ever increasing. Using automation is the only way to stay on top of the market, have complete control over logistics and provide customer delight. Retail industries is a perfect target industry where automation has shown tremendous ROI in areas like :
Manufacturing sector is full of manual processes and high volume repeated tasks. This involves huge human force to maintain the logistics posing many challenges. Automation can help streamline and increase efficiency of many such processes, reducing effort and loss of revenue due to delays and errors. Some of the most painful processes which automation can truly improve are :
BPO or contact centers are classic case studies with huge volumes and repeated tasks. Automation has worked wonders to streamline this industry by reducing costs, increased service levels and improved speed and efficiency of the operations. Most of the outsourcing industry processes can be automated achieving minimal or no human intervention.
Healthcare providers are constantly troubled by endless paperwork and repetitive administrative tasks which affect providing efficient service to their patients. It also affects the bottom line revenue and does not allow growth beyond a point. Introducing automation to take care of laborious and voluminous tasks has proved highly effective in health care industry. Some the common scenario where automation can bring in huge improvements are:
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The insurance core processes and back-office operations pose a challenge with huge amount of documents in unstructured formats and time-consuming processes. Leveraging Artificial Intelligence and Machine Learning models for intelligent data extraction from documents help end to end digitization of all processes. Automation has proven to reduce enormous human effort for insurance industry with high ROI. Processes that are best suited are:
Manual work is present in every organisation, making RPA an absolute necessity for any sector we can think of: Education, Shipping Industry, Hospitality, Services, Aerospace, Transport, Government and Public sectors, Pharmaceutical, Media, Food, Construction, Telecom and Agriculture Industries.
The area of automation can be generic support functions like HR, Finance, Operations, Customer Service or core business functions specific to the industry.
The compulsive factors to favour RPA for any of the automation scenario are :
Power
Platform
UiPath
