BANKING

Automation: the future of work

28.09.2020

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BANKING

Automation: the future of work

28.09.2020

 

RPA is becoming more and more popular with large companies. Key routine tasks can be defined and then delegated to a bot, thus saving a lot of specialist time and frustration. How? Let’s discuss what “RPA” is and how it can help your company with digital transformation.

Robotic Process Automation – or RPA - is all about optimizing individual processes and freeing up people for human-only tasks. It unburdens your employees from mundane, repetitive work, allowing them to focus on solving problems and creating value.

Automation frees employees from repetitive work, allowing them to focus on more creative, innovative, and higher-value work.

Let’s take an accountant’s workplace for example. There is a table, chair, and PC. Normally, an accountant performs a hell lot of work: fill in the documents in a special way, stamp every now and then, and calculate in between, which is all nothing but a time-eater. Here comes RPA to save the day! The PC gets RPA software installed on it and our user gets a personal account. User’s routines are recorded and then consolidated into a set of actions triggered to do the job automatically. It means no more manual paperwork for our accountant – just one click to run a dedicated algorithm that perfectly fills in every single field of a form automatically.

This empowers employees and permits companies to increase business volume and drive the organization forward.

…Will a robot take my job?

Many people used to fear robots because they are believe robots will replace them and increase unemployment, while in fact, automation will accelerate human achievement.

Robots will never completely replace humans, that’s for sure, since feelings, emotions, and critical thinking are all beyond machines’ capability. However, robots excel at calculations and simple tasks – no hard choices or emotional investing. Lacking emotional investment, which is synonymous with art professions and inherent in service and teaching, artificial intelligence has absolutely no clue how to act in critical situations when time is running out and critical thinking is a must.

In years past, the leaders may have narrowed in on reducing labor costs and helping the bottom line.

Being concerned about disruptive effect of innovations, most businesses just try them out in a few cases and do not go further. Thus, robots are trusted to make the first lead touch only, with all other steps being usually assigned to a human being. This is why such robots are not expected to do more than read, write, speak, and copy/paste.

The leaders of today recognize that automation is about more than that. It is about progress and quality of life and work: focus on important tasks, think strategicly. COVID-19 outbreak just highlighted the importance of automation in our lives.

Process automation during COVID-19

Self-isolation caused big changes in our office routine. Many people started to work remotely. Remote work requires the automation of standard operational tasks: document signage, calculations, travel approvals, feedback request, etc. A corporate bot can perform hundreds of contactless recurring and routine tasks instead of an employee, automating the execution of standard documents.

For example, our strategic partner IT company CROC and its partner Infobot have jointly developed a voice bot to assist employees with their daily targets. On the one hand, this bot will help thousands of office employees stay motivated and keep a teamwork mindset; on the other hand, it will enable managers to build a simple and effective remote work reporting system.

The lack of a business-like atmosphere is the main disadvantage of remote work for the majority of employees at any company. Most office employees have never worked from home before and now find it difficult to balance their job duties with family responsibilities. In addition, switching to this mode entails many more employee progress reports compared with working in an office when progress can be discussed with managers in person without any recording.

The bot communicates with employees on work-related and personal matters several times a day. This way, the bot not only helps employees keep on track and focus on their targets but also quickly interprets and records plan-fact data. Heads of departments can promptly obtain information about task performance and KPI achievement with no extra effort. Moreover, such tracking helps quickly identify and eliminate any objective and subjective barriers preventing employees from completing their tasks. The bot is a universal tool that can call 200 employees per minute and obtain any necessary information.

It's up to you

RPA proves to be a very adaptive and flexible tool for automating absolutely any process that does not require emotional involvement. You can ask our experts for help and we will show you how to increase your company's efficiency with RPA.