RPA use cases

There are several industries that leverage RPA technology to streamline their business operations. RPA implementations can be found across the following industries:

Banking and financial services: In the Forrester report “The RPA Services Market Will Grow To Reach USD 12 Billion By 2023,” 36% of all use cases were in the finance and accounting space. More than one in three bots today are in the financial industry, which is of little surprise given banking's early adoption of automation. Today, many major banks use RPA automation solutions to automate tasks, such as customer research, account opening, inquiry processing, and anti-money laundering. A bank deploys thousands of bots to automate manual high-volume data entry. These processes entail a plethora of tedious, rule-based tasks that automation streamlines.

Supply chain:  RPA has also been impactful within supply chain operations. By integrating information across shippers and operation managers, companies can better communicate to their customers when unscheduled events occur, like delivery changes or delays. By communicating ahead of time, businesses can improve overall customer satisfaction. Delve deeper into our Inter Aduaneira case study, where they used RPA to improve their response times by 80%.

Telecom: Telecom is another one of the industries using the most RPA as it experiences massive growth driven by the Internet of Things, 5G, and edge computing. As demand soars, RPA can help a telecom company streamline its apps and infrastructure and help them share data. Combined with AI processing, RPA can analyze network usage data to keep the user experience consistent and collect compliance data to keep up with regulatory Federal Communications Commission (FCC) mandates. RPA can also help providers automate customer recordkeeping, improve customer experiences, keep services affordable and uninterrupted, and monetize new 5G services.

Insurance: The insurance industry is full of repetitive processes well-suited for automation. For example, you can apply RPA to claims processing operations, regulatory compliance, and policy management. RPA can help generate faster quotes and policy documents at the “quote and bind” stage and the underwriting process. It can help standardize midterm adjustments by bringing data into a single source of truth and processing policy changes quicker. Agents work more efficiently with RPA tools, meaning the volume and length of customer calls are reduced, and customers are more satisfied. It also means being able to streamline renewal tasks, such as pricing and policy documentation, freeing employees to spend more time on customer retention.

Retail: The rise of e-commerce has made RPA an integral component of the modern retail industry by automating tasks that impact both customers and employees, such as collecting employee information for onboarding, scheduling, and payroll. RPA helps with managing inventory, warehouse and order management, supply chain operations, fraud detection, customer feedback processing, and returns processing. It can aggregate information from cash register reports. Retailers use RPA to automate pricing, analyze factors that impact sales such as geographic location, cultural and age preferences, aggregate information from registers, and send automated messages to suppliers and customers. Automating repetitive tasks not only improves customer support and the customer experience, but also frees employees to focus on more value-added and impactful actions.

Healthcare: Accuracy and compliance are paramount in the healthcare industry. Some of the world's largest hospitals use robotic process automation software to optimize information management, prescription management, insurance claim processing, and payment cycles, among other processes. Throughout the healthcare industry, RPA addresses process challenges such as billing and compliance, electronic health records, clinical documentation, patient scheduling, and more, helping organizations become more efficient and effective and improving the employee and customer experience.