In this RPA tutorial for beginners, you will learn about what does RPA stands for in technology, benefits of RPA, and what is RPA in the medical field, real estate, and banking in brief.
What does RPA mean?
RPA stands for Robotic Process Automation. RPA as a combination of Artificial Intelligence (AI) and software automation. It’s a simple computer coded software that automates manual activities by performing repetitive rules-based tasks.
What does RPA stand for in Technology
RPA technology consists of software robots (bots) that can mimic a human worker. RPA bots can log into applications, enter data, calculate and complete tasks and then log out. Currently, practitioners divide RPA technologies into three broad categories: probots, knowbots, and chatbots.
- Probots are bots that follow simple, repeatable rules to process data.
- Knowbots are bots that search the internet to gather and store user-specified information.
- Chatbots are virtual agents who can respond to customer queries in real-time.
Benefits of RPA
Robotic process automation technology can help organizations on their digital transformation journeys by:
- Enabling better customer service.
- Ensuring business operations and processes comply with regulations and standards.
- Allowing processes to be completed much more rapidly.
- Providing improved efficiency by digitizing and auditing process data.
- Creating cost savings for manual and repetitive tasks.
- Enabling employees to be more productive.
What is RPA in the medical field?
Medical organizations can use RPA for handling patient records, claims, customer support, account management, billing, reporting, and analytics.
Here’s how RPA can help in the Healthcare sector:-
- Manpower savings.
- Elimination of waste/save the environment.
- Improved quality/consistency.
- Membership management.
- Claims administration etc.
What is RPA in real-estate?
With Robotic Process Automation (RPA), property management companies can automate the processes & reduce the turnaround time, improve the efficiency of managing critical business processes such as financial reporting, and importantly, save cost on hiring people.
Here’s how RPA can help property managers in managing their different processes:-
- Offer Refunds to the Home Owners.
- Sharing bank account statements for General Ledger reconciliation.
- Coupon management.
- Intimating the property managers about the GL mismatch.
- Updating the bank account information.
- Correcting the incorrect payment transfers.
- UiPath offers an open platform to help organizations efficiently automate business processes.
- Automation Anywhere Inc. provides an enterprise digital workforce platform geared toward procure-to-pay, quote-to-cash, HR, claims processing and other back-office processes.
- Blue Prism focuses on providing organizations in regulated industries with more agile virtual workforces, offering desktop-aligned robots that are defined and managed centrally.
- Workfusion combines robotics, AI-powered cognitive automation, and workforce orchestration to automate enterprise business processes.
What to look for in RPA software
When enterprise leaders look for RPA technologies, they should consider a number of things, including:
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