Home > Insights > Robotic Process Automation: The opportunity, risks and rewards

Robotic Process Automation: The opportunity, risks and rewards

Robotic Process Automation: The opportunity, risks and rewards

By: Ciopages Staff Writer

Updated on: Nov 02, 2021

Robotic process automation (RPA) is an important and emerging technology of the 21st century. Robotic Process automation entails using software with artificial intelligence (AI) and machine learning capabilities to perform large amounts of repetitive tasks that have historically needed a human to take care of them.

Once RPA software been trained to the organization’s needs and processes, the software can manipulate data and autonomously communicate with other systems.

Unlike traditional IT automation, RPA software is trainable so that it can easily adapt to changes in workflow and parameters. Once RPA software been trained to the organization’s needs and processes, the software can manipulate data and autonomously communicate with other systems. This makes RPA ideal for several functions in large organizations with many complex systems in a variety of industries, and RPA has been successfully implemented in supply chain management, accounting, human resources, customer relations, and other roles.

Risks of Robotic Process Automation

  • RPA is extremely expensive to implement. While it is a worthy investment that results in greater productivity, RPA software is still incredibly cost-prohibitive for many organizations. RPA has been successfully utilized in smaller organizations but even larger ones may have trouble justifying the shift to RPA if cash flows are poor.
  • Senior IT roles may become overburdened. Because RPA automation eliminates several low-value positions, senior IT managers are facing larger workloads from potentially having to pick up lower-ranking employees’ work as well as having to implement and manage the new RPA systems. There is concern that it will create too much extra work and stretch resources. This could reduce morale and cause issues with attracting and retaining talent.
  • RPA will redefine many roles that merit additional training and new skills. Depending on the size of the organization and other factors, providing additional employee training could be costly and as RPA software continues to evolve new hires may not be able to immediately adapt.
  • RPA presents security concerns. Depending on the level of regulation that applies to the organization, RPA can present security concerns when it comes to access controls. While robots can be trained to never stray from the policies that would apply to a similar human user, a glitch or disaster could still cause a robot to potentially run free on the network.

Benefits of Robotic Process Automation

  • Robotic Process Automation software is adaptable and can self-learn and self-correct. RPA is extremely useful for organizations that have a diverse array of complex systems that must sync together such as human resources and payroll. If a form for the human resources department is missing vital information for an employee’s file like an employee ID number, this would be flagged as an exception and an employee would manually need to look up the ID number and input it before sending it to payroll. RPA would be able to adapt to these exceptions and look up the missing information its own.
  • Elimination of humor errors and facilitation of regulatory compliance. Human errors are eliminated in data input and processing. Humans make mistakes all the time and they can result in minor inconveniences or repetitive and costly

    Robotic process automation technology doesn’t just automate tasks, it also monitors them 24/7 and can easily retrace its steps, this relieves many organizations from burdensome audits because compliance is simplified with RPA.

    penalties if these mistakes cause the organization to fail a regulatory audit. Because RPA technology doesn’t just automate tasks, it also monitors them 24/7 and can easily retrace its steps, this relieves many organizations from burdensome audits because compliance is simplified with RPA.

  • Greater service levels and reliability. RPA is very effective at managing operational risks and performing tasks that are repetitive and don’t entail complex decision-making like compiling reports from existing records. RPA can not only perform this task with great speed but also with 100% accuracy and at any hour of the day.
  • Employees can shift their focus to tasks that require a human touch. Implementing RPA will eliminate the need for many jobs in the long run because the software can function all day, doesn’t need a cost of living adjustment, and always produces accurate results. However, humans are still needed for other aspects of keeping the organization running smoothly and with their attention now diverted from business processes, they can focus on customer service, quality testing, and other value-added processes that can’t be easily accomplished through machine learning.

Overall, Robotic Process Automation can increase efficiency and productivity while minimizing risks and reducing lead times on processes. Processes aren’t just automated, they’re also monitored and synced. RPA software is a rules-based engine configured to replicate business processes that the organization has already implemented and without the risks stemming from human errors and moralities. While very expensive to implement, despite cost and security concerns it can be an investment worth making in your organization’s efficiency.

Licensing Options:

We keep the licensing options – clean and straightforward.

Individual License: Where we offer an individual license, you can use the deliverable for personal use. You pay only once for using the deliverable forever. You are entitled any new updates within 12 months.

Enterprise License: If you are representing a company, irrespective of size, and intend to use the deliverables as a part of your enterprise transformation, the enterprise license is applicable in your situation. You pay only once for using the deliverable forever. You are entitled any new updates within 12 months.

Consultancy License: A consulting or professional services or IT services company that intends to use the deliverables for their client work need to pay the consultancy license fee. You pay only once for using the deliverable forever. You are entitled any new updates within 12 months.

Product FAQs:

Can I see a Sample Deliverable?

We are sorry, but we cannot send or show sample deliverables. There are two reasons: A) The deliverables are our intellectual property, and we cannot share the same. B) While you may be a genuine buyer, our experience in the past has not been great with too many browsers and not many buyers. We believe the depth of the information in the product description and the snippets we provide are sufficient to understand the scope and quality of our products.

When can I access my deliverables?

We process each transaction manually and hence, processing a deliverable may take anywhere from a few minutes to up to a day. The reason is to ensure appropriate licensing and also validating the deliverables.

Where can I access my deliverables?

Your best bet is to log in to the portal and download the products from the included links. The links do not expire.

Are there any restrictions on Downloads?

Yes. You can only download the products three times. We believe that is sufficient for any genuine usage situation. Of course, once you download, you can save electronic copies to your computer or a cloud drive.

Can I share or sell the deliverables with anyone?

You can share the deliverables within a company for proper use. You cannot share the deliverables outside your company. Selling or giving away free is prohibited, as well.

Can we talk to you on the phone?

Not generally. Compared to our professional services fee, the price of our products is a fraction of what we charge for custom work. Hence, our business model does not support pre-sales support.

Do you offer orientation or support to understand and use your deliverables?

Yes, for a separate fee. You can hire our consultants for remote help and in some cases for onsite assistance. Please Contact Us.