Significance of Robotic Process Automation for Data Entry
Robotic process automation (RPA) is the application of software with artificial intelligence (AI) and machine learning (ML) capabilities to handle repeatable, high-volume tasks that were previously performed by humans. Bots can do repetitive tasks much more quickly, accurately, and energetically and produce higher output. Using RPA, an organization can program a software or robot to interpret applications for processing transactions, generating responses, manipulating data and communicating with other systems. Bots can be programmed to automate tasks in an ERP system. RPA is cost-effective and easy to implement. It frees up employees’ time, so that they can concentrate on core business activities. Today, many data entry service providers use the latest and updated technologies to automate their data entry processes, thereby providing their clients with prompt services.
Atos, a global leader in digital transformation, reports that RPA adoption rate is growing every year. The reason for this is automation focus has switched from IT operations to business processes and from bottom line to top line. In fact, the focus is shifted to augmenting talent, digitizing processes and extending the life of an IT system. This attracts businesses to invest in RPA.
According to a new study conducted by Grand View Research, Inc, the global robotic process automation (RPA) market size is anticipated to reach USD 3.97 bn by 2025, expanding at a CAGR of 31.1% over the forecast period.
RPA seamlessly integrates into the existing hardware and software; hence there is a total and comprehensive improvement in operational efficiencies. With RPA, businesses can reduce staffing costs and increase productivity. The following are the major reasons why using RPA for data entry (performed in-house) could prove to be an ideal option for your business.
- Accuracy in Data Entry - RPA data entry is more accurate, as software bots are not vulnerable to human error and will never get tired or distracted. RPA eliminates typos and prevents any entries from going into the wrong field. By using advanced technologies such as optical character recognition (OCR) and intelligent character recognition (ICR), a professional data entry company can offer the highest data entry accuracy.
- Works all the time - There is no downtime at all and software bots work 24 hours a day, every single day of the year, at 100% capacity. By incorporating RPA in data entry, human employees can take holidays, enjoy their vacations, get enough sleep, and take care of their health.
- Helps increase productivity – With RPA, the employees who were handling data entry can focus more on productive tasks. Entering data automatically in an easily searchable format makes it easier for employees to use the information, and thereby increase productivity. Today, many data entry companies have shifted to RPA platforms. With advanced technologies, such companies can handle even the most challenging data entry tasks with ease. So, instead of doing data entry in-house, businesses can consider outsourcing.
- Easy to implement and scale - New RPA software system can be implemented much faster than training a new person. If you get excessive work for your robotics process automation to handle, then the best solution is to add extra bots. This is much easier than hiring and training new employees for data entry tasks. RPA creates a system that is very easy to scale with your flourishing business. All you have to do is contact your software provider and tell them what you need and they will get it set up. Outsourcing also eliminates the need for hiring and training employees.
- Helps save time and money - Whenever your process changes and the bots have to learn something new, you can either replace them with new bots or alter their programming. This is much faster and easier than training employees in new tasks. In addition, it helps save time and money for the business.
- Security – As software bots never understand the significance of the data they are working with, this helps protect the privacy of your vendors and clients. In addition, bots don’t have to save or memorize passwords; this in turn reduces the chances of password breach. If data breach occurs, then businesses will get cured as the data are stored in a central repository. RPA also ensures that the setting of accessibility is done by the employees and only the right people will have the access to the data that pertains directly to their workflow. Anything that they are not supposed to see will remain encrypted and safe.
- Requires only minimal IT Resources – Maintaining software bots needs only minimal IT resources. RPA systems will be managed by the software provider and they are responsible for maintenance, updates, etc. This takes the burden off IT and saves your company money.
Here are some other advantages of RPA:
- Helps decrease or eliminate headcounts from batch data entry input and output tasks, and reduces the need for data re-keying.
- Helps to integrate faster, more accurate processes for human performance in manually entering structured data sources.
- Speeds up the time it takes to complete certain manual data entry functions such as data collation.
- Helps link to external and third-party systems that can’t be connected through other IT solutions.
- Can be easily applied to numerous data entry process scenarios, such as data enrichment, data cleansing, data mining, data de-duplication, and data extraction.
- Enhances the overall flow of end-to-end manual data entry processes.
Machine learning and RPA automates tedious and repetitive tasks and frees up the company staff for more important tasks. Mass data entry and mass email generation are made easier with RPA tools. Moreover, fewer people have access to sensitive data with automated systems having the capability to convert, move, or translate data without any human interference. This helps ensure more security for the data. Businesses not considering RPA implementation in their organizations can hire the services of a professional data entry company to meet data entry requirements. This will ensure them access to excellent resources and technology, which may not be so easily available in-house.
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