Small businesses need effective systems throughout their operations to stay ahead of the competition. These organisations may be forced out of the market if they fail to adapt to digital transformation. One of the most important aspects of digital transformation is the automation of business processes.
For instance, you can use Robotic Process Automation (RPA) to accelerate and streamline repetitive tasks. This allows you to give more time to important tasks and prevents the wastage of resources. Since it can improve efficiency, reduce costs, and enhance productivity, more small businesses are now adopting this technology. The robotic process automation technology market size is expected to cross $13 billion by 2030.
What Is RPA?
RPA is a software technology that aims to automate specific repetitive tasks and operations within software environments. It allows organisations to automate daily operations. It mostly includes bots that mimic human interaction required in call centre operations, data entry, order processing, payroll processing etc.
To help the RPA software better understand the tasks being performed, they can be combined with Artificial Intelligence (AI) and machine learning technologies. For a small business, RPA is like hiring a team of robots at a fraction of the cost. A team that gives round-the-clock availability and never makes a mistake.
How Does RPA Work?
RPA consists of programmable bots that function based on predefined rules about the actions to be performed. To handle complex tasks, the newer robotic process automation software tools are combined with advanced artificial intelligence. The software may or may not require collaboration with human counterparts. It works pretty well on its own.
It mainly depends on the type of organisation in which the technology is being used. RPA mainly works by processing the information that is already present in your IT system. This data may be accessed through the front end or through connections to databases in the back end.
In front-end integrations, the RPA can connect with several IT resources and desktop applications such as XERO, Salesforce CRM, PeopleSoft, and SAP etc. Once installed, the software can fetch data from the target application just like a human operator would. On the other hand, the backend integrations for RPA are commonly used for unattended automation.
How Is RPA Used In Small Businesses?
Small businesses can use robotic process automation solutions to automate redundant and time-consuming tasks like call centre operations, payroll, invoice filing, and data management. With bots handling this work, you and your staff can focus on higher-value work. This includes tasks such as strengthening the brand image and solving customer problems that require human creativity.
RPA is also essential for small businesses due to its ability to generate reports about its processes. These reports contain information about the processes and how they are performed. Small businesses can use insights derived from these evaluations to make better decisions and improve their operational efficiency.
Top 5 Reasons Why RPA For Small Businesses Is Important
While it may sound like a complex program, it is actually easy to install in a small business. For instance, Rinkt RPA solutions can be implemented within a single day. Here’s how Rinkt can help your business through robotic process automation in operations.
Data Analytics
Modern businesses rely heavily on big data nowadays. It not only helps small businesses understand their target customers but also helps them reduce costs, solve problems, and increase revenue. At times, this data may be unstructured, making it difficult for businesses to use.
Fortunately, the RPA robots can be programmed to process this data at tremendous speeds allowing it to make sense of both unstructured and structured data formats. This can give a significant competitive advantage to small businesses. For instance, robotic process automation in the supply chain helps businesses improve customer satisfaction by letting them analyse customer behaviour and tailoring their processes accordingly.
Artificial Intelligence
Integrating artificial intelligence capabilities with RPA technology allows it to get more intelligent over time. This is done by allowing the software to assess the data over time and helping it determine which action needs to be taken based on the data. This significantly increases the value of interactions between applications. For instance, Rinkt Docbot is capable of reading, extracting, and processing information all on its own.
Small businesses can use intelligent automation to streamline their workflows and make better decisions. Some of the best AI-enabled robotic process automation examples include chatbots, Optical Character Recognition (or OCR), and claims administration. These tools not only increase productivity but also improve accuracy and reduce costs.
Human Resource
Hiring resources for all these individual tasks can be very expensive for small businesses. Apart from paying them salaries, you will also be responsible for bearing the costs of insurance and paid leaves. Robotic process automation in HR means less bureaucracy and a more centralised workforce.
Intelligent automation replacing the human workforce is considered one of the disadvantages of robotic process automation. However, this is not the case. Taking over repetitive tasks, it actually supplements or augments the humans in their work. Meanwhile, the human workforce can refresh their skill sets and work on more complex matters. Rinkt RPA makes it easy to use for everyone by providing features like a drag-and-drop interface.
Competitive Advantage
Small businesses usually have fewer team members. By automating the repetitive tasks, you can allow your resources to do more. You’ll have more time to analyse the market and quickly adopt the changes required by the market. This is necessary to stay ahead in the fierce competition. In a production environment, RPA technology can be used to find and develop new vendor relationships.
The built-in OCR and data analytics capabilities in these softwares can be used to compare the process, reliability, and capabilities of different vendors. Small businesses can generate tremendous value for themselves by catching up with the new trends in Robotic Process Automation (RPA). These trends include cognitive automation that incorporates human emotions in its solutions. Another upcoming trend is hyper-automation which aims to standardise the automation approach all across the organisation.
Cyber Security
Besides errors and delays, there’s always a chance of data breaches when humans are involved in repetitive administrative tasks. With more businesses relying on data, you should understand that not having proper cybersecurity measures in place can be catastrophic. It might be very costly for small businesses to hire a dedicated staff for cybersecurity.
Fortunately, organisations can add RPA to their cybersecurity framework. It is capable of continuously monitoring behaviour and taking swift action in case of any suspicious activity. RPA bots can be programmed to manage the role-based authentication processes, thus preventing theft and corruption.
Final Thoughts
In conclusion, robotic process automation technology allows your small business to focus on what really matters by taking over the dull, repetitive and otherwise costly tasks. By leveraging RPA, you can enhance your data analytics and cybersecurity. You can even create a progressive IT system. Contact us and learn more about how Rinkt RPA can give your business the competitive advantage needed to get ahead in the industry!
