The incredible success of RPA across a range of industry segments is persuading more and more businesses to jump on the bandwagon. Businesses worldwide are all geared up to adopt RPA as a part of their immediate growth strategy. One such industry that is considering value enhancement through RPA technology is BPO.
Like other segments, BPOs are also digging through other substitutes to labor arbitrage. Undoubtedly, RPA emerges as the best candidate for this. It ensures seamless integration with the business model and works to boost core competencies. By delegating the tasks to software robots, RPA implementation assures superior benefits. For a more detailed view on how RPA is changing the face of the BPO industry, keep reading.
Benefits of RPA Adoption
Considering the changing landscape, business leaders are under constant pressure to cut down costs, and at the same time, increase output. That’s where RPA can be of great use.
- Cost Savings: Using a software robot costs three times less than hiring an offshore full-time employee and five times less than an onshore full-time employee.
- Availability: Robots can work 24/7 round the clock, meaning they guarantee better productivity.
- Accuracy: As human involvement reduces, the chances of errors are minimal.
- Compliance: Software robots are programmed to operate according to standard procedures without causing any impact on productivity.
Application of RPA in BPO Industry
#1. To offer differentiated solutions:
Today’s customers want innovative and forward-thinking solutions. Here RPA is helping BPOs come up with flexible and unique solutions that cater to customers’ needs. If you are exploring new ways of offering technology solutions, chances are that your customers will find interest in your services and will stay with you for long.
#2. Achieve Process Consistency:
RPA helps in bringing consistency in the process. Even highly trained employees cannot execute a process in the same way. Their response is likely to vary every time. RPA helps in bringing uniformity. It is programmed to deliver the same experience at all times. It focuses on the execution of processes that is repetitive and requires precision of higher standard which sometimes even the proficient employees may fail to do.
#3. Less Workforce and Higher Accuracy:
Software robots are capable of performing any kind of repetitive task round the clock. As there is no involvement of humans the work is executed at a faster pace with lesser chances of errors. Thus, by employing robots to handle repetitive, mundane work, the number of employees required to be reduced considerably. This results in enhanced accuracy, reduction in time and cost involved. According to a study by the Institute of Robotic Process Automation, RPA implementation cuts down the operating cost by 25-50%.
RPA has huge potential for transforming the BPO industry. It can effectively handle everyday repetitive, rule-based work enabling employees to focus on more strategic, value-driven tasks. Although these changes may not happen overnight, it will take time to realize RPA benefits. The transformations will occur in the form of small incremental changes over some time.