How to Get Started with Robotic Process Automation in 2023
Updated: Dec 7, 2022
Robotic Process Automation leverages software robots to mimic all of the steps full-time employees take in doing manual, repetitive processes within the systems they use on a daily basis.
Companies choose workflows to “outsource'' to software robots who are designed to automate a task or process that is rule-based.
RPA bots are able to log into the same applications as your staff and would automate the workflow (albeit 10x faster and without the errors that humans tend to make).
When you leverage an RPA-as-a-service solution such as Stealth Scaling, you can automate repetitive tasks and your business can drive outcomes with less staff; or, you can repurpose your staff to focus on completing more strategic work.
For example, finance and accounting departments should be leveraging and could very well thrive off of RPA to automate processes like invoices, order to cash, procure to pay, database management, and data reconciliation.
What Processes are Low Hanging Fruit for RPA?
When you start implementing RPA, you want to focus on processes that are very repetitive; ones that require full-time employees to work on those processes manually and frequently.
RPA software robots are scalable, which means they have the ability to scale up or down instantly to accommodate for a changing workload. With a human workforce, managers would have to hire additional staff for spikes in the workload.
Another advantage of RPA robots is that they can maintain low error rates and high accuracy while scaling adjustments take place.
Additional RPA benefits include reducing headcount so you can increase profitability and revenue in some verticals such as Healthcare.
Automation can add a ton of value to companies in healthcare, insurance, banking, public sector, and literally any finance and accounting department.
Any industry can benefit from robotic automation if they are consistently processing large quantities of data such as insurance claims or loan applications. Other business processes that are ideal for automation include:
Resolving mismatched data
Syncing reports from multiple sources
Generating An ROI From RPA
While RPA is broadly beneficial for many companies and industries, it’s not a perfect fit for every workflow. There are a few key factors to keep in mind when considering RPA for your processes:
1 FTE or More Doing the Process: What business processes take up a large portion of time for your human workforce? Which tasks require additional staff when the workload spikes? What is the percent of human error within these tasks?
Complexity of Tasks: How many steps are in the business process? Do decisions need to be made by humans anywhere in the process? What is the complexity scope required? (RPA does best with low-to-moderate complexity work.)
Stability of Processes: Do processes change? If so, how much? What is the lead time for change?
Human-in-the-loop Exception Process: Do you have a skilled human that can pick up where the bot left off to streamline exceptions the bot can’t handle?
Setting Expectations For RPA
If Your Processes Aren’t Optimized, RPA Can’t Solve it
RPA is not a quick fix or a Band-aid for broken business processes. It cannot fix fragmented processes, but it can optimize those that are already working well and support business development. Many businesses think in the short-term about RPA, but automation has the potential to make a lasting impact on a business.
Outsource Your RPA to a “Center of Excellence” to Get a Bigger ROI
A CoE (or a center of excellence) is an in-house resource dedicated to monitoring and overseeing RPA robots and their daily work. This team should help manage the automation plan and keep long-term goals in mind. Having employees who are dedicated to working full time with software robots can keep progress in check and help the business adjust when the company decides to automate more processes.
RPA Robots don’t Always Aim to Eliminate Human Jobs; Rather, They Help Liberate Employees from Mundane, Repetitive Work.
A common fear for employees (or SME's) is that they’re training a robot to take their job. This isn’t always the case; RPA robots can complete rote, mundane tasks very rapidly and with incredible accuracy. Many employees enjoy feeling supported by automation as they take on more creative work, perhaps even moving into a new, more challenging position.
How Stealth Scaling is Solving Problems for Mid-market Companies
For the first time ever, Stealth Scaling is focused on making automation affordable for mid-market companies who have yet to embrace automation; in the past, it has simply been too expensive or unavailable to them.
Stealth Scaling is an intelligent automation-as-a-service company that helps automate manual, repetitive processes end-to-end for finance and accounting departments by leveraging AI, RPA, and humans in the loop.
Stealth is investing in the mid-market space by funding the automation implementation, maintenance, human in the loop costs, and license costs and becomes your center of excellence for automation.
Stealth only charges per successful transaction, whether a bot or human completes it.
This allows customers to start reaping the benefits of automation and have a tangible ROI on day 1 of the bots and humans in the loop going live.
Going from a payback period with software to a ROI on day 1 of launch is revolutionizing automation within the mid-market space.
Stealth Scaling has operations in Miami, Fl and Metro Manila, Philippines to completely automate work end to end.
Stealth will build out software robots that can mimic what humans do in manual repetitive processes such as invoice processing, order to cash, data reconciliation, data entry, know your customer, claims processing, and more.
The bots run 24/7, can scale up or down based on seasonality, and are backed by trained humans in the loop who have clinical experience.
The humans only handle exceptions or validations that the bot needs assistance with.
The Philippines has a hub of talented practitioners in a variety of verticals that can jump in and support these processes when needed.
This is truly a disruptive model because clients don’t pay any implementation, maintenance, or license fees to software companies to start automating processes.
If you would like to get a free automation evaluation please fill out our contact form and our automation specialists will get in touch with you right away!