When did the automation of robotic processes begin?

What is Robotic Process Automation (RPA)?

For which industries does the use of RPA make particular sense?

If RPA can be used everywhere, experience shows that using RPA has a greater impact in some industries than in others. This primarily includes the Financial services sector. An important part of the business of banks and insurance companies is the data acquisition and processing. According to the report by the McKinsey Global Institute 2017, 43% of this work can be automated. In addition, the regulations of banks and insurance companies, such as the KYC requirements, are subject to constant changes. Software robots can be quickly adapted to regulatory changes. This way, companies avoid embarrassing compliance issues.

in theInsurance sector for example, there are a number of tasks that are suitable for process automation, such as

  • Update of sales scorecards to brokers
  • Carrying out credit checks as well as regulatory and legal reviews
  • Accounting services that are not currently supported by straight-through processing
  • Data entry for approval and registration processes
  • Generating renewal awards
  • Manage policies
  • Update of customer data including bank details
  • Rejecting or canceling policies if no payments are received
  • Detection and coordination of premium deviations in the policy
  • Claims handling
  • Assignment to clerks
  • Enter the first notification of loss (FNOL)
  • Notification of the claims adjuster
  • Automate daily bank reconciliations
  • Processing of low risk payments

Banks & Financial Services

With RPA, financial processes can be made not only more efficient, but also more secure, quickly and easily. Classic financial processes such as account reconciliations, data processing, the maintenance of master data, the creation of invoices or the processing of terminations can be fully automated. This frees up resources, e.g. for dealing with new regulatory challenges.

In connection with residual debt insurance for credit cards and compensation claims from customers, software robots can, for example, download and convert PDF files from databases. The software robots then extract information according to a set of rules. On the basis of the information, they calculate the level of benefit and make the payment to the customer.

Insurance

RPA can also be used in the insurance industry wherever structured processes determine the work. This includes, for example, the sending of insurance confirmations, new registrations on the Internet, the processing of contracts in the event of the insured's death, the inclusion and changes of address data, direct debits and standing orders in the system.

Since all rule-based work can be carried out by a software robot, it can also calculate a new insurance amount, for example. He then automatically sends the updated contract to the customer or notifies him by email that the new contract is available for download.

Energy industry

The use of software robots in the energy industry does not make sense simply by improving process efficiency and achieving greater transparency. Energy companies also benefit from the use of a software robot due to the higher processing speed and more processed volume. Specifically, software robots can take over the processing of meter data, tariff adjustments and changes from end customers and taking on new customers. In addition, there is the clarification of discrepancies in the service plan and tariff, the processing of errors in account assignments and the processing of incoming payments.

Healthcare

In the healthcare sector, process automation relieves the burden primarily through the automation of administration and billing processes. Doctors and nurses have more time to look after their patients, as the software robot frees them from repetitive, labor-intensive administrative tasks. By using software robots, patient data can be analyzed and evaluated faster and more completely, which improves medical care. Decisions that offer the patient the best possible help in individual cases can be made much faster. The quality of medical care increases.

telecommunications

In the telecommunications sector, too, with the support of Robotic Process Automation (RPA), companies can automate standardized and repetitive processes in customer service (“front-end”) and thus make them more efficient. New customer admission and order management can be automated. The employees in customer service are relieved and have more time for a personal conversation with the customer. Software robots are able to automatically answer standardized, recurring customer inquiries or to take measurements in the event of a fault in the telephone connection or for the router setup.

administration

In public administration, the use of RPA could solve a variety of problems. For example, the chronic staff shortage and tight public coffers that prevent recruitment ensure that citizens wait months for appointments and applications are not processed. Software robots can help here, for example, with sending forms, with the routine calculation of the amount of a cash benefit, with checking forms and applications for completeness and plausibility, or with transferring data from different systems and channels to digital case files. RPA gives authorities the opportunity to free employees from time-consuming or "nonsensical" activities.

The use of RPA in public administration benefits from the fact that the willingness of the public increases significantly to allow software robots to help them with standard issues in favor of the processing speed and outside of opening hours.

Transport & logistics

Business processes in the transport and logistics sector are very dependent on back office activities. This includes, for example, entering orders, updating customer details on web portals with the current state of charge and ETA, planning a delivery, tracking a trailer, entering data in ERP systems or carrying out inventories. In addition, access to data from freight forwarders, carriers, logistics partners and freight cost accounting companies can be automated. In general, the use of software robots makes core business processes more efficient, which leads to higher process and operational efficiency and thus greater economies of scale. This is becoming more and more important for transport and logistics companies as they are increasingly being pushed into a ruinous price war by customers and freight forwarders. Consequently, these companies can only increase their profits if they automate existing processes.

Commerce and e-commerce

For companies in the retail sector, there are a number of approaches for automated data exchange. Because in trade, the flow of goods from the producer to the end customer takes place via a large number of intermediate stations. By using RPA, inventory management, product scanning, wage and salary accounting, orders, dispatch notifications or invoicing can be processed automatically. In addition, software robots can be used to extract product data from manufacturer websites and update online content and product information. RPA can also be used to effectively manage returns and make any necessary changes required to modify the inventory database and customer invoicing. In general, the use of RPA reduces error-prone manual interventions, consequently lowers processing and administration costs and increases the efficiency of the communication processes.