Labour arbitrage has been the face of the BPM industry from almost as far back as we can remember. Service providers aim to reduce expenses by seeking out an inexpensive workforce overseas. Over the past decade, this business model has gradually lost its appeal as wages in offshore locations have increased, and technology has progressed to a point where digital labour is proving to be more productive than manual labour. Incorporating robotic process automation (RPA) is more profitable than hiring full-time employees to complete high-volume manual tasks. The way forward for the outsourcing industry is to adopt RPA in BPM processes.
We are now in the age of RPA outsourcing, and leading BPM providers are aware of it. Today’s robots possess greater processing power than an average human brain. They can handle greater volumes of repetitive tasks at a fraction of the cost of full-time employees. A BPM provider that offers their clients the latest tech is sure to acquire and retain business more successfully than one that fails to move with the times and is still hanging on to outdated methodologies. Industry leaders have already automated the following processes with excellent results.
- File and Data Manipulation: An automated system rapidly accesses important files and reports as needed and performs various actions such as analysing data, formatting, copying, or deleting files as required. Spreadsheet processing, data dynamics, and mining platforms can speed up with the incorporation of RPA.
- Data Entry and Validation: RPA software efficiently handles keyword analysis and incorporates predictive data tools when handling large amounts of data. This way human error during data entry becomes a thing of the past, and automated dictation systems can accelerate voice-to-data transcriptions.
- Uploading and Exporting: BPM service providers often work with massive, unstructured datasets from various sources. RPA converters work in conjunction with uniform conversion processes and upload and export software to streamline data migration and integration.
- Reconciliations: Automated ticketing systems handle complaints, system discrepancies, and downtime without human intervention. In addition, RPA and automated monitoring systems perform dynamic reconciliations at every operational level, effectively mitigating risk.
Let’s take a closer look at some of the key benefits of adopting RPA in BPM processes.
- Cost Savings: RPA outsourcing is cost-effective than hiring full-time employees to execute mundane and repetitive tasks.
- Accuracy: Human errors can be a thing of the past with automated processes that work independently of human intervention.
- Availability: Software robots can work round the clock to increase productivity, swiftly tackle customer issues, and perform data analyses.
- Compliance: Businesses that employ RPA for core functions don’t need to worry about operational lapses and legal hassles as standard operating procedures are programmed into the software code and are always adhered to.
Outdated BPM processes that rely on an outsourced workforce are gradually becoming less lucrative and viable from performance and cost-efficiency perspectives. Businesses must take advantage of the flexible, unique, and innovative solutions that automation provides.
Modern businesses wishing to transform business processes with RPA and benefit from the latest technology should enlist the services of a BPM provider that takes advantage of all RPA outsourcing has to offer.