Robots and automated processes even after a decade of their introduction are met with skepticism and seen as a competition for human jobs. On the contrary, they have the potential to increase the number of human jobs by lowering costs and boosting efficiencies. Speed and reliability that are a core requirement of new age organizations could be achieved using these advanced technologies. The newer technologies such as robotic process automation, artificial intelligence, internet of things, etc. are here to stay. The faster your organization adapts to them, the better your chances of creating a competitive edge for your business.
Robotic Process Automation in its simplest form can be defined as a process where the logic-driven robots execute pre-programmed functions on a structured data to complete a process or transaction. This process bots are capable of performing human-like functions such as evaluating, deciding, learning, and acting. These abilities of RPA allow organizations to free the human capital of the repetitive tasks thereby improving the efficiency and reducing the chances of human error.
The statistics also point towards a broad scale implementation of robotic process automation. The demand for RPA is experiencing a phenomenal compound annual growth rate of 60.50 percent from 2014 to 2020. The market value of RPA is expected to reach USD 5 billion by the year 2020. One of the prime factors that set RPA apart from other technologies is the return on investment which can be as short as 6-9 months. Robotic process automation can yield operation cost benefits up to 45 percent. The ease of use and benefits of using RPA are far more significant than it may appear to be.
In the current age where your customer is your most prominent marketers, robotic process automation can be way more effective in ensuring a delighted customer than anything else. A customer’s entire journey is a predictable pathway that can be evaluated to deduce the pain points. At certain points in any buyer journey, the experience becomes less than pleasurable. Long waiting periods are one of the most common reasons for customer dissatisfaction. Employing RPA allows you to minimize or eliminate these pain points to ensure complete customer satisfaction at every point in the buyer journey.
By researching the customer journey, RPA can be incorporated to ensure fast and intuitive overall experience resulting in a far better overall experience. Let us look at some of the key touchpoints that can benefit from the robotic process automation.
Customers are always looking for information either before making a purchase or when faced with a problem while using the product. Long waiting times to receive the relevant information can annoy the customer and may even lead to loss of a potential customer. RPA can act as a one-stop shop for agents to work with rather than working with multiple systems. These results in quicker delivery of information leaving the customer delighted.
Robotic process automation can also ensure efficient customer onboarding from websites. A company website is a first place visited by the consumer to seek information about the company or the product. Automated chatbots allow your potential customers to seek information by asking questions like they were talking to an in-person representative. The entire process can help your business improve the lead conversion rates from the website.
Processing information is a mammoth task for organizations due to the stringent compliance requirements. Companies are required to collect the customer’s data, validate it, extract data from the documents, compile the data, and update the data in the future. The entire process is time-consuming which requires immense efforts on the part of human resource and patience on the part of the consumer to wait until all the information is processed.
With the implementation of robotic process automation, the entire cycle can be automated with significant benefits and reduced timelines. RPA can be implemented to identify and enter customer information, merge data, fill different forms, update information in the future, and process structured as well as unstructured data. This results in improved operational speeds and accuracy resulting in enhanced customer experience.
A lot of backend tasks rely on repetitive human efforts. It reduces the morale of the employees while resulting in decreased operational efficiency. Tasks such as email processing and distribution, server backups & monitoring, time & attendance management, inventory management, etc. can be automated to spare the human resources for customer-centric tasks. By implementing RPA to take care of such tasks, employees will have the ability to focus on the front-end.
Implementation of robotic process automation leads to both operational and technical efficiency. The most evident benefits include reduced operational costs, multi-tasking, 24*7 availability, improved quality of tasks, regulatory compliance, and customer satisfaction. The robotic process automation allows the organization to track every step and makes them compliant with industry standards. It ensures that the tasks become error-free and risk-free. Organizations should consider the robotic process automation as the intermediate step in the overall automation of their operations.
However, companies need to remember that robots require continuous fine-tuning and maintenance. A regular quality control check is necessary to ensure that the entire automated process works smoothly. Even though the processes are automated, there could be events where the bots would not know how to react. If these ‘exceptions’ are not addressed immediately, the customer experience can be severely impacted.
We at Conneqt are backed by years of experience and a proficient team capable of end-to-end implementation of Robotic Process Automation. We work with organizations to help them improve their customer experience while ensuring that the backend processes are optimized for better operational efficiency. Get in touch with us to know how Robotic Process Automation can help your organization improve overall customer experience.