Robotic Process Automation for Business: Debunking The 4 Misconceptions Holding You Back
Business is getting faster and busier every day.
So, it’s not surprising that management, directors, company boards and business owners are proactively looking for ways to improve their operations in a cost-effective and smarter way.
Fortunately, today’s digital and tech advancements have led even smaller businesses to consider adopting the latest cutting-edge business tools, such as CiGen on Demand, to save more time, money and resources, especially around automation.
These tools enable organisations to harness the power of business automation which can speed up repetitive, mundane and high-volume tasks. One of the top technologies in this area making a buzz in today’s business landscape is Robotic Process Automation (RPA) and it’s paving the way for businesses of all sizes to embrace digital transformation.
And the outcomes have been nothing short of revolutionary. However, there is also a lot of misconceptions around automation too holding businesses back from adoption.
New technology: benefits get mixed with misunderstandings
As with any new tech, there can be some confusion around how it works and what its role will be in business.
Although Robotic Process Automation has been employed across a large range of industries with excitement, enthusiasm and phenomenal results, there are still a lot of business automation misconceptions about what Robotic Process Automation is, how it works, its benefits and whether it will replace human labour.
So, in this article, we will explore the top myths around Robotic Process Automation (RPA) and the reality behind them so you can make the right decisions for your organisation.
What is Robotic Process Automation?
Also called RPA, Robotic Process Automation technology uses innovative software ‘bots’ to carry out tasks according to a flowchart, following rule-based decisions for a computer-based process with little to no human interpretation necessary.
In other words, RPA business automation technology is programmed to follow a set of repetitive procedures guided by your instructions to complete tasks faster and more accurately.
A quick example of Robotic Process Automation
As an example, if you had one of your team members taking information from one piece of software and re-entering the data into your CRM system, an automation bot could be programmed to do this process much faster, freeing up your team.
For more, read our blog: Why automate?
Which businesses have adopted Robotic Process Automation?
Robotic Process Automation has been successfully adopted across many different industries such as banking, financial services, healthcare and many more, helping many organisations achieve greater efficiency through the use of automation technology.
However, despite all the benefits RPA offers to businesses, automation technology has also had its fair share of myths accompanying its rise.
4 misconceptions about business automation RPA
There are many misconceptions surrounding the use of Robotic Process Automation. Here, we’ve listed 4 common myths about RPA implementation and what business owners and management should know instead:
- Humans will be replaced by robots
False.
One of the biggest misconceptions of business RPA is the concern that it eliminates the jobs of human employees. The truth is that this technology is actually designed to take away the repetitive, mundane work from your employees and enable them to focus on work that cannot be done by a software robot, instead.
Think of it this way: you can set up automation to, for example, help your payroll team to run the payroll admin so your staff can then focus on researching the latest accounting trends, conducting financial analysis and spending more time on inspiring work instead.
While it’s true that some activities previously executed by company employees can be automated these days with RPA, artificial intelligence tools still need programming by humans. In fact, according to the latest research from the World Economic Forum, they have predicted that the ‘robot revolution’ will actually create 58 million net new jobs with an emphasis on reskilling and upskilling employees.
- RPA robots ensure 100% accuracy
False, but let us explain.
Another misconception surrounding RPA is that it provides error-free results due to its consistency and reliable underlying technology.
As software robots execute the rules programmed into them, they can and will replicate errors that already exist in a workflow. If not identified by human staff early in the process of automation, these mistakes could end up just repeating in all the work. To avoid these issues altogether, it is essential to check that procedures are error-free and confirmed as correct during the transition to RPA as well as keeping an eye on the software robots in the initial stages of automation.
At CiGen, we conduct a comprehensive automation consulting process for you to ensure we all iron out any problems before integrating RPA into your business.
- RPA is not relevant to my industry
A big false.
We hear this one a lot!
There seems to be a common belief that RPA is only useful in selected industries, like banking and finance. Yet, the fact is that back-office activities, general admin and repetitive tasks exist in every industry, making Robotic Process Automation relevant to a diverse range of businesses.
Think about your operations now – what would benefit from automation? We’re sure you could think of many.
Wherever there are repetitive, standardised and numerous menial tasks to complete, RPA can be utilised in your organisation. This technology can be applied to manage details such as retail order processing, insurance claims processing, accounts payable and accounts receivable, audit and compliance, communications between manufacturers and their customers, receipts, automated marketing, and more.
It’s even been used in the healthcare industry to effectively manage patient appointments.
For more, read our blog: what can be automated?
- RPA is expensive
Another false – and believing this is holding so many businesses back.
Companies are always looking for innovative ways to cut costs. As a result, many turned to outsourcing as a solution for the completion of certain business procedures. However, with the rise of automation technology, RPA is relatively low cost and easy to implement within your business.
At CiGen, we work with small to medium-sized businesses every day to show them the potential of business automation through RBA, and they’re constantly surprised by how inexpensive it is compared to the benefits and return on investment (ROI).
RPA’s ability to cut costs and increase ROI is significant. PwC contends that ‘While a number of solution options exist, RPA offers a superior customer experience and dramatic error reduction, providing significant cost and efficiency benefits in short timeframes. Being relatively simple to implement, RPA can deliver benefits quickly and ROIs of between 300 – 800% are common.’
For more information, read our blog on how to automate your business here.
Dispelling Business Automation Fears and Misconceptions
We hope that cleared up some of the common confusion around business automation.
Small to medium businesses have a lot to gain from RPA technology and we trust that this article has encouraged you to explore the full potential it offers.
These misunderstandings surrounding RPA can cause a lot of unnecessary complications for forward-thinking business owners aiming to centralise their processes for greater flexibility and responsiveness. As you begin your search for that “next edge” to stay relevant and competitive in your industry, Robotic Process Automation is definitely a viable option.
CiGen are the experts in on-demand business automation solutions
Here at CiGen, we provide an affordable automation service to small and medium-sized businesses through our CiGen On Demand subscription solution, making it easy for your business to harness the true power of automation and buy back your valuable time.