How can SMEs benefit from RPA technology
by: Riddhi Parekh 2020-09-09 Source: botreetechnologies
SME image & by N/A is licensed under unsplash.com Unsplash
Small and Medium Enterprises (SMEs) play a vital role in the inclusive growth of a country. Such enterprises strengthen the industrial and economic development of an economy. But this sector of business faces innumerable challenges, for instance, unskilled workforce, low-scale operation, use of outdated machines, complex supply chain, inefficient working capital, inappropriate strategies and planning, lack of focused decision-making.
How RPA can help SMEs in their business?
RPA can ensure greater quality and compliance of data by removing the possibility of human error, therefore giving greater security to data and information. The key is to work in partnership with customers to examine which of their business processes can and should automate; which tasks if automated shall dramatically increase productivity, and thus freeing up staff for more important jobs.
RPA technology is relatively simple to implement into an SME and requires very little to no infrastructure or application re-architecture. Traditionally SMEs have been overburdened with repetitive and monotonous tasks. And they often end up spending on non-core activities than providing a focus on what they would really want to do, where there is a value for them. The resources freed up in this way can then be deployed into more valuable activities such as business counseling and scenario analysis. And here RPA is one candidate that fits into.
Advantages of using RPA in SMEs?
- Based on the analysis, about 30 to 70 percent of the basic activities required to resolve service desk tickets can be automated through RPA and related technologies.
- In many business sectors that range from small to medium enterprises (SMEs), RPA technology can be leveraged to automate business processes.
- By automating the more time-consuming, and repetitive tasks, SMEs can improve productivity, which could help them in gaining competitive advantage.
- Banking & Finance, Insurance, Pharma, Human Resources, and other core processes of the back-office would be easily automated using RPA.
- Prospective Scalability in Terms of Opportunities:
- In this age, the market demands change constantly. If small-medium businesses appoint human employees, it will be very difficult to handle such variations due to less flexibility as humans need much time to adapt to process changes.
- Robotic Process Automation completely eradicates this issue. With the help of Robotic Process Automation, organizations can get done all the manual work accurately without considering the volume or the time-frame.
- Better Data Management and Intelligent Insights
- As humans, it gets tough to keep track of every minute detail in a long process, especially when the time frame is very short, and the workload is high. Robotic Process Automation (RPA) is very smart in this respect as it has the capability to store data at every step and provide for the same.
- This archived data can be exceedingly useful for analyzing and gaining valuable insights. In the end helps the business to judge its observations of the market trends, probable, discover its weaknesses and strengths, and overcome challenges. With the help of the archived data, SMEs business can scale up and be at par with its competitors.
- Increased Customer Satisfaction
- A hotel chain with properties operated with its staff of 90 employees who were busy with their regular work that included recording daily expenses, answering emails, and so on.
- So we assisted this hotel chain with RPA to automate its daily operations leaving employees to more difficult tasks like customer complaints and queries giving personalized attention to all.